On last Monday 13th of September, the Cyprus Council of Ministers has approved the amendments to the Scheme for Naturalisation of Investors in Cyprus by Exception. The said scheme is based on subsection (2) in section 111A of the Civil Registry Laws of 2002-2015.
The said amendments are in line with the strategy of the Cyprus Government to further attract Foreign Direct Investment and encourage the use of Cyprus by High Net Worth Individuals.
We provide below information on the changes introduced, the revised criteria and on our value proposition in supporting clients and their families to obtain the Cyprus (EU) Citizenship.
We will be able to provide you with more details next week after our meeting with Ministries.
We summarise below key information on the revised criteria, terms and conditions of the Scheme:
- Land for development
- Alternative Investment Funds (AIFs) regulated by the Cyprus Securities and Exchange Commission (''CySec'')
- Financial assets (i.e. bonds, debentures) of Cyprus companies, issued under the auspices of the CySec. The said Cyprus companies must have tangible presence and
substantial economic activity in Cyprus
To find our more information or to discuss this opportunity with us please contact Mr Theo Parperis, Head of Tax and Legal Services, and Phryni Yiakoumetti Mina, Director, Immigration Services at 0035722555477 and 0035722555719 respectively.