New policy of investment immigration in Cyprus

2065438+On February 26th, 2009, the Cabinet of Cyprus officially promulgated the new detailed rules of the Policy Law on Citizenship of Investment in Cyprus, which will be officially implemented from now on.

1. The following new regulations will be implemented from now on:

-All applicants must submit a declaration to the Cyprus government, stating whether they have ever applied for citizenship of an EU member state.

-Cancel the bond investment model.

2. The following provisions will take effect on May 20 19 15:

-The investment must be retained for at least 5 years from the date of naturalization, not 3 years.

All adult applicants must hold a valid Schengen visa when submitting their immigration applications.

-It is necessary to donate 75,000 euros to the Research and Innovation Foundation to promote the establishment of an enterprise innovation ecosystem in Cyprus.

-It is necessary to donate 75,000 euros to the Cyprus Land Development Association to support the construction of affordable housing projects and other housing projects for Cypriot citizens.

-If the property purchased by the investor has been used to apply for investment in the Cyprus naturalization project, the minimum investment will rise to 2.5 million euros.

-If investors apply for naturalization by purchasing real estate projects, they need to provide planning permission, proof of completion time and bank exemption.

According to the new law, it can be seen that after May 20 19 and 15, the donation cost of investors applying for Cyprus EU passports will increase by150,000 euros; If an investor buys a property (second-hand house) in Cyprus that has been used to apply for investment projects, the minimum investment will be increased from the original 2 million euros to 2.5 million euros. Therefore, those who are interested in applying for investment immigration in Cyprus should seize the time to submit their applications before May 20 19 and 15. Apply early and benefit early!