Cyprus may limit its citizenship program like Malta

Cyprus the most popular European citizenship by investment program may be capped like Malta but the CIP will continue in Cyprus.  Malta’s citizenship program (IIP) has been capped to a limit of 1800 applicants

Currently foreign individuals and families can get Cypriot citizenship with passport by investing 2 million euros in real estate or 5 million euros in investment bonds and maintain it for three years.  It may take about 6-8 months to get the citizenship in Cyprus.

• Citizenship of an European Union member state
• The right to live, work, and study in all 28 EU countries
• EU citizenship and passports are granted to the applicant and included family members
• Visa-free travel to 158 countries around the world
• Citizenship by acquiring assets in Cyprus (no wasting money like donation)

According to Cyprus business mail,  Finance minister Harris Georgiades said that while the government plans to keep its citizenship by investment scheme in place, it may consider a cap on the number of beneficiaries, already exceeding 1,000 since 2013, Kathimerini reported in its Sunday edition.

“The government has already gone ahead with a substantial revision of the scheme and will not hesitate to go ahead with new adjustment and modification in order to ensure that the scheme will continue, will serve our economy’s needs, will not lead to excesses and will preserve the good reputation of our country,” Georgiades was quoted as saying.

The Citizenship-by-investment programme in Cyprus has fetched 4 billion euros, or 20 percent of GDP of Cyprus. and Cyprus has gone from bust to boom in less than four years since the 2011 Cyprus financial crisis. Health, Real estate and Education has been attracting major investments  according to Ekathimerini

The Cyprus citizenship by investment programme (CIP) was introduced in 2012 requiring 15 million euros investment, which was subsequently reduced to 5 million euros, then revised to 2.5 million euros, then again to final 2 million euros in 2016.

Cyprus passport is one the best travel documents highly respected in the world with visa free travel to 158 world countries.