On the 13th of February 2019, the Council of Ministers of the Republic of Cyprus approved the revised Cyprus Investment Programme (the “CIP”) with the aim to revise and include new due diligence procedures to strengthen the credibility of the CIP taking into account at the same time the concerns raised by the European Union. The new CIP aims to allow foreign high-net worth individuals and their family members to obtain the Cypriot Citizenship within a six month-period.
Changes to the CIP effective from 15th of May 2019:
The proposed investors will be required to make a mandatory donation of Euro 75,000...
In light of the fast approaching deadline for the legal exit of Britain from the European Union, awe outline below key concerns for expatriates in Cyprus as well as what you can do to prepare for Brexit.
Leaving the European Union will affect most UK nationals to varying degrees, but those living in or owning property in Cyprus will have specific concerns about their future.
The Ministry of Interior of the Republic of Cyprus has issued a document underlying they ways that the Republic of Cyprus intents to implement the Withdrawal Agreement (the ‘Agreement’) to safeguard the residence rights of the UK nationals and their respective families who ha...
On June 15th, 2018, and based on the decision numbered 81.292 and 84.068 dated 13/09/2016 and 09/01/2018, the following amendments to the scheme have been decided and approved by the Council of Ministers:
The program of Cyprus Citizenship by Investment programme will be renamed to “Cyprus Investment Programme”;
All applications for the Cyprus Investment Programme should be submitted on behalf of the applicant(s) by natural/legal persons whose name is included in the registry of certified service providers supervised by the newly created Supervisory and Control Committee;
All certified service providers should comply with the newly establi...