The Cyprus citizenship by investment scheme has contributed to 1.2% of GDP growth bringing in €6.6 billion euros since the launch of the scheme.

A total of 1,864 cases of naturalization by investment have been approved since the start of the project in 2013, said Finance Minister Haris Georgiades in a cabinet meeting

The Cabinet approved the new criteria for granting a Cypriot passport for an investment of €2.5 million, including the purchase by the owner of a homeowner. The total investment included of their own dwelling amount to at least € 2.5 million euros.

New Changes

• Cyprus CBI will be more stringent with applicants refused by Schengen and member states will be refused.
• The holding period for investments has been increased to 5 years from 3 years
• New Provision is also made for a mandatory donation of € 75,000 to the Research and Innovation Foundation and a second € 75,000 to the Cyprus Land Development Agency, amounting to total donation of €150,000.  The mandatory contribution to the research and innovation institute is lifted if the applicant will invest at least € 75,000 in a certified innovative business or a certified social business.
• Investment Property and Infrastructure are not required to buy additional dwelling, if atleast one of these dwellings is worth at least € 500,000

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