ARTICLE · 17 MAY 2019

Key Changes To The Cyprus Citizenship By Investment Programme

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In February 2019 the Cyprus Council of Ministers approved revisions to the Cyprus Citizenship by Investment Programme.

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Charalambos Pittas

In February 2019 the Cyprus Council of Ministers approved revisions to the Cyprus Citizenship by Investment Programme. These changes include the addition of contributions to research and development within Cyprus and to fund affordable housing on the Island.

Changes with Immediate Effect

Three changes to the programme came into effect immediately:

The minimum amount of time for which the investment must be maintained in Cyprus has changed from 3 years to 5 years, from the date of naturalisation as a Cyprus citizen (this excludes the primary residence in Cyprus with a minimum value of €500,000, which must still be held for life).
Non-EU nationals must hold a valid Schengen visa if they wish to travel to, and within, EU member states.

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