logo
Русский
menu
Русский
  • Our Group
  • Developing
    • Our Developing
    • PROPERTIES FOR SALE
      • Opalion
      • West Hill
      • Nashville
    • COMPLETED PROJECTS
      • Opera
      • Savoya
      • Other Projects
    • PROJECTS UNDER STUDY
      • The Gallery
    • Properties For Rent
    • Our People
    • Maintenance & Services
  • Contracting
    • Our Contracting
    • Our Story
    • TECHNICAL CAPACITY
      • Experience
      • Equipment
      • Our Partners
      • Our People
    • OUR CONTRACTING PROJECTS
      • Commercial Projects
      • Residential Projects
      • Hotels | Leisure
      • Private Villas
      • Restoration
      • Churches
      • Schools
  • Legal & Financial Information
  • About Cyprus
    • About Cyprus
    • About Limassol
  • News & Blog
  • Contact Us
    • Contact Us
    • Land Wanted
    • Job Opportunities

Changes to the Cyprus Investment Programme

Home>News & Blog>Changes to the Cyprus Investment Programme
27
May
2019

The Cypriot Investment Programme (CIP) was established as part of the local government’s efforts to attract foreign investment to Cyprus. It encompasses a set of legislation and financial criteria that allows non-Cypriot high net worth individuals and investors, as well as their families, to obtain Cypriot citizenship through naturalization within six months.

Recently, the Ministers of Finance and Internal Affairs have recommended a series of modifications to the Cyprus Investment Program, in an effort to make it even more targeted and trustworthy, and these came into effect on 15 May 2019.

The changes to the Cyprus Investment Programme:

  • There will be a limit of 700 applications per year.
  • Applicants must be holders of a valid Schengen visa to be able to apply for naturalization.
  • In cases where an applicant had previously submitted a Citizenship application in any other EU Member State and was rejected, he/she will not be permitted to apply for Cyprus Citizenship via the CIP.
  • The applicant must make an investment of at least €2 million for the purchase or construction of buildings or other land development projects (residential or commercial), as per the original regulations.
  • If the applicant has invested or is planning to invest in housing units that have already been used for the purposes of acquiring Citizenship via the CIP, the total investment amount, including the privately-owned residence, will need to be at least €2.5 million.
  • Investors will be required to keep their investments for a period of at least 5 years from the date of naturalization (compared to the previous version of the Program, which stipulated that investors keep their investments for a period of at least 3 years).
  • Should the investor wish to alter his investment in any way during the 5-year period, he or she is permitted to do so upon consent from the Ministry of Finance.
  • The investment in Government bonds as an acceptable criterion in the Cyprus Investment Program, as per the previous regulations, has now been completely abolished.
  • Investments made to the Cyprus shipping industry will be considered as an eligible criterion for the Cyprus Investment Program. Investors will still need to obtain a residence worth €500,000, which will need to be kept for life.
  • In addition to the aforementioned conditions, investors will be required to make a mandatory donation of €75,000 in order to promote the creation of an entrepreneurial innovation ecosystem, as well as a mandatory donation of €75,000 to the Cyprus Land Development Corporation aimed at contributing to the integrated housing policy.
  • For investments relating to the purchase of real estate or property that is under construction, a planning permit is required.
  • Cypriot citizenship can be granted to the spouse /partner of the investor and the investor’s parents, financially dependent adult children, and minor children (under the age of 18), via an application for Naturalization by Exception, which includes fees of €2,000 per person.
  • In order for the parents of the investor to receive the passport, they must be in possession of a permanent residence in Cyprus, purchased for at least €500,000. The investor and his/her parents can jointly purchase one residence, provided that the purchase price is at least €1,000,000. Alternatively, the investor must increase his/her investment to the amount of at least €500,000 in order to allow for his/her parents to apply for a Cyprus Citizenship.

For more information on the Cyprus Investment Programme, and information on the investment solutions offered by Askanis Group, please contact us on [email protected] or call us on +357 25 336 171.

 

Download 'Changes to the Cyprus Investment Program' in PDF format

 

 

Home>News & Blog>Changes to the Cyprus Investment Programme

Related Posts

16
Mar
2022
Two Bedroom Apartments at the WEST...
11
Mar
2022
WEST HILL Update
01
Dec
2020
New virtual tour of SAVOYA Duplex...
20
Nov
2020
Navigating the Pandemic
16
Oct
2020
Delivery of 13-storey building in Limassol
16
Oct
2020
News from the WEST HILL Construction...
16
Oct
2020
Life After Lockdown: Staying Safe Indoors...
26
Feb
2020
5+1 Must-visit Cyprus Dams
14
Jan
2020
Introducing WEST HILL by Askanis Group
28
Nov
2019
Askanis Group Launches New Project WEST...
31
Jul
2019
10+1 Cool Things to do in...
19
Jun
2019
Two Bedroom Apartment for Sale
12
Jun
2019
New Video of Savoya Apartments B1...
10
Jun
2019
Casting Concrete Time Lapse
19
Apr
2019
7+1 Peculiar Easter Traditions around the...
03
Apr
2019
An Island Steeped in Ancient History
01
Mar
2019
The History of the Limassol Carnival
01
Feb
2019
9+1 Modern Architectural Wonders Around the...
13
Dec
2018
Christmas Traditions and Where They Came...
20
Nov
2018
6 + 1 Things to Do...
26
Jun
2018
When the Old Meets the New
29
Mar
2018
Easter Traditions in Cyprus
05
Mar
2018
Tips and Tricks for Designing Your...
12
Feb
2018
5 + 1 things to do...
17
Jan
2018
Transforming Your Bedroom into a Welcoming...
16
Jan
2018
A Gateway to the EU: Cyprus...
22
Dec
2017
Christmas blog
04
Dec
2017
Our 8 Favourite Interior Design Tips
31
Oct
2017
European Property Award for Opera by...
07
Jun
2017
Villa Amelia Photos
01
Jun
2017
The Gallery by Askanis – Update
07
Apr
2017
New Maintenance Facility
06
Apr
2017
Askanis Group sponsors the Sculpture Park
06
Feb
2017
Antonis Askanis Ltd undertakes renovation at...
21
Dec
2016
Amendment for the reduced rate of...
12
Dec
2016
Opera New Show House
04
Nov
2016
Filming at OPERA
29
Sep
2016
Seminar on Marketing and Social Media
27
Sep
2016
Askanis Group supports the BEST LEGAL...
27
Jul
2016
New Photos of Villa La Boheme
15
Apr
2016
New photos of Pool Villas at...
27
Jan
2016
Aida Spa at OPERA
15
May
2015
Askanis Group wins award for Best...
15
May
2015
Villa LA BOHEME wins award
24
Apr
2015
The Impressive A11 Maisonette
31
Oct
2014
Opera Business Cocktail
31
Jul
2014
OPERA One Bedroom Apartment for Sale...
24
Jul
2014
New sketches for Side Villas in...
04
Jun
2014
OPERA by Askanis at night
28
Feb
2014
Opera Show Maisonette
01
Jan
2013
Award-winning Villa La Traviata
07
Jun
2011
Opera Event at the Le Meridien...
logo-footer
  • +357 25336171
  • [email protected]
  • 8, Loizou Askani Street, 3110 Limassol – Cyprus
  • Our Group
  • Developing
  • Contracting
  • Legal & Financial Information
  • News & Blog
  • About Cyprus
  • Contact Us
© 2025 ANTONIS ASKANIS LTD
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
Convertico Media

Website Designed & Developed by Convertico Media