accordion_add accrd arrow_down Artwork5_91630abc-4525-4546-b388-bf5ed4a60fc7 Artwork3_259cb767-599e-4ce2-be5c-6abfa29dddaa arrow_right_dark Artwork4_fe88f147-9df8-4a0a-9b8f-49a321af4024 circle_add citizenship close_video_overlay cross eligibility emailexit_strategy family golf_bookingMute Icon passport pause pen play requirements restart Artwork2_1b5e3cec-92db-4ce1-9040-3691c03f483f scrollsearch share_new share social_facebookGoogle Plus Instagram LinkedIn Pinterest social_twitterYouTube tax_consequences visa_free volume_mute volume
 / 

Make An Enquiry

For more information on Minthis or to request that a member of our sales team contact you, please fill in the form below.

NEW REGULATIONS INTRODUCED AUGUST 2020

THE CYPRUS INVESTMENT PROGRAM

In August 2020, the Cyprus Government officially published new Regulations (Κ.Δ.Π. 379/2020),  to reflect the current Cyprus Investment Program with the following changes:

  1. A Government contribution shall be paid after the approval of the application and before the issuance of the naturalisation certificate. This was also the policy of the Government until today but it was not included in the CIP process.
  2. The contribution has been slightly increased and the approved funds have been expanded as follows:
    • Donation of €100.000 in the Research and Innovation Foundation of Cyprus OR the Service of Industry and Technology OR the Renewable Energy Sources and Energy Conservation Fund OR the National Solidarity Fund
    • Donation of €100.000 in the Cyprus Land Development Corporation

3. The investors are no longer eligible to set up a property development company in order to complete their investment for citizenship purposes.

4. For investments in companies, they have increased the requirement to have EU employees from 5 to 9.

5. The payment of the investment funds for the purposes of the CIP must be made from the account of main investor or his company only, they cannot be paid by the spouse.

6. Two or more investors are able to purchase a single unit as their main residence in Cyprus provided that they are relatives up to first degree of kinship and at least EUR 500.000- of the value of the property can be attributed to each investor.

7. The applicants are required to provide a police clearance certificate from the country of residence only and the certificate can be up to 6 months old.

8. The applicant and his family members should not have behaved in a manner that constitutes acceptance of the illegitimate administration in areas not controlled by the Republic, should not hold any position related to such administration or hold or have illegally entered, caused damage or interfered with, immovable property located in those areas belonging to another rightful owner.

9. The applications of all dependents can now be submitted simultaneously with the application of the main applicant (or afterwards). Up until today the applications of the dependents could only be submitted after the naturalization of the main applicant was completed.

10. The parents of the applicant’s spouse are now eligible to apply for citizenship, provided they purchase property of EUR 500.000- plus V.A.T. up until today only the parents of the main applicant where eligible to apply. However, they cannot purchase one single unit with the main investor and his parents, but rather the property of the parents in law will have to be separate.

11.The main applicant and his family members should not fall within any of the following categories:

(i) Persons against whom there is an order to seize their property within the borders of the European Union ∙

(ii) Politically Exposed Persons (PEPs), within the meaning given to the term by section 2 of the Law on the Prevention and Suppression of Money Laundering and who hold a political position at the date of application or have held such a position  during the twelve (12) months preceding the date of submission of the application ∙

(iii)  Persons who have been convicted for a serious criminal offence punishable by imprisonment of five (5) years or more or of another serious offence or a dishonourable offence involving moral turpitude. It is understood that, in case of conviction in another country, it is required that it is connected to an offense which constitutes an offense and in the Republic of Cyprus which carries a prison sentence;

(iv)  Persons subject to criminal investigation either in Cyprus or in another country in relation to a serious criminal offence, which carries a prison sentence of five (5) years or more or for another serious offence or for a dishonourable offence or involving moral turpitude;

(v)  Persons who are associated with any physical or legal person, entity, organization or body to which restrictive measures have been imposed by the European Union and are in force, such as shareholders or senior executives of companies included in sanctions list;

(vi)  Persons who were associated but are no longer associated with any physical or legal person, entity, or body to which restrictive measures have been imposed by the European Union and are in force, such as shareholders or senior executives of companies included in sanctions list, who were associated with such companies at the time the sanctions were imposed;

(vii)  Persons to whom the European Union or the United Nations have imposed sanctions which are in force or were in force for a period of up to twelve (12) months prior to the submission of the application;

(viii)  Persons associated with any physical or legal person, entity, body or agency which has been sanctioned by the European Union or the United Nations which have been in force for a period of up to twelve (12) months prior to the submission of the application ∙

(ix) Persons who were associated but no longer associated with any physical or legal person, entity or body to which restrictive measures have been imposed by the European Union or the United Nations which are or were in force for a period of up to twelve (12) months prior to the submission of the application, such as shareholders or senior executives of companies included in a sanctions list, who were associated with such companies at the time the sanctions were imposed

(x)  Persons wanted across Europe by EUROPOL or internationally by INTERPOL˙

For more information click here

Rental Items:

December 2020
Mon Tues Wed Thu Fri Sat Sun
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31