The Cyprus Investment Programme is viewed as the quickest way to obtain the EU passport by taking around 6 months. The methods of obtaining Cyprus Visa mainly divided into “Cyprus Citizenship Program” and “Cyprus Permanent Residence Program”. The amendments for the programme will be effective on 15th May 2019 which mainly focus on Cyprus Citizenship Program. The program is geared towards High Net Worth Individuals with a required investment in Real Estate in Cyprus of EUR 2,500,000 currently, the extra requirements are listed as follows.
Amendment of Cyprus Citizenship Program:
- A €75,000 contribution to the Research and Innovation Foundation
- A €75,000 contribution to the Cyprus Land Development Corporation
- An obligation to maintain the investment for 5 years (*The property investment has currently to be kept for 3 years.)
Amendment of Application Requirements:
- Applicants must have a Schengen Visa
- Applicants that have denied an EU visa or passport previously will no longer be accepted into the programme
New changes make the application more restrictive and costly. The policy will be implemented on 15th May 2019. Grab the last chance to get the EU passport now!