[Immigration Consultation] What changes have taken place in the new policy of investment immigration in Cyprus?

Answers from lawyers of China Immigration Cyprus Branch;

On March 24th, the Cyprus Immigration Bureau updated the latest policy 202 1 on permanent residence projects.

The specific revised policies are as follows:

1. Cancel the requirement to open an account with a Cyprus bank and deposit 30,000 euros. You don't need to open an account, you can get a green card by directly buying a property worth 300,000 euros.

2. New investment methods:

Invest 300,000 euros in non-residential properties, such as offices, shops and hotels, which can be new houses or second-hand properties.

Buy 300,000 euros worth of shares in a Cyprus company, which needs to operate for the entity and employ at least 5 employees.

Collective investment funds (AIF, AIFLNP, RAIF) invested 300,000 euros in Cyprus investment institutions.

3. The approval period was shortened, and the government promised to complete the approval within 2 months.