The New Cyprus Investment Programme

CCA welcomes Changes to the Cyprus Investment Programme

| Published on 23 Jun 2018

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"As of 1st November 2020, the Cyprus Investment Programme is closed until further notice. Contact us for further information."

The Council of Ministers in Cyprus has announced new amendments to the Cyprus Investment Programme.  The Cypriot Investment Programme enables investors to obtain Cypriot citizenship for an investment of a minimum of €2 million. The announcement by the Cypriot Press and Information Office include three changes including the introduction of an annual cap of applicants, a change in the official name of the programme and the tightening of due diligence conducted on the applicants.

New Annual Quota Restriction to apply to Cyprus Investment Programme

Cyprus has announced that the number of investors to be granted citizenship under the Citizenship by Investment Programme will be limited to 700 applicants per year, starting from this year.  Since the programme as launched in 2014, the number of applications has increased steadily however it has never passed this 700 cap.

New Official Name for Cyprus Investment Programme

The Government’s Press and Information Office has also announced a change in the official name of the programme. Following these amendments, the Citizenship by Investment Programme will now be known as the ‘Cypriot Investment Programme’.

Stricter Due Diligence Process to apply to the Cyprus Investment Programme

With the new amendments, the citizenship programme will also see the implementation of enhanced due diligence procedures. The new due diligence tests will lengthen the application process to a six-month period for clearance, and due diligence costs will be borne by applicants.

Contact our Cyprus Investment Lawyers for more Info

We are able to advise you and assist you in submitting an application under the Cyprus Investment Programme options as well as indicate the expect time frames based on the specific circumstances and the nature of your application.

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Key Contacts

Dr Jean-Philippe Chetcuti

Senior Partner, Tax & Immigration

+356 22056411

Dr Antoine Saliba Haig

Senior Lawyer

+356 22056266

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