Cyprus's New Immigration Policy

On August 18, 2020, the Ministry of Interior of Cyprus officially announced the new policy of Cyprus Investment Project (CIP). Details are as follows:

◆ The investor's donation was changed from the original 6.5438+0.5 million euros to 200,000 euros;

◆ Politically sensitive person (pep) will not hold any "important position" for nearly one year (the original policy is five years) after submitting the application for investment projects in Cyprus. If he can provide proof of the source of funds, he will open the application;

◆ Parents of the investor's spouse can be included in the investment project plan;

◆ The validity period of the certificate of no crime is increased from 3 months in the original policy to 6 months;

◆ Investors are no longer allowed to apply for Cypriot citizenship by setting up real estate development companies.