Cyprus raises the requirements on its investment immigration program

Cyprus yesterday announced a significant change to its investment immigration program. Under the new rules, investors will need to acquire a permanent residence first and hold it for a minimum of 6 months. Moreover, two sums of 75, 000 euro each must be donated to two newly incorporated funds, the initial investment amount is increased to 2, 500 000 euro and investment must be held for a minimum term of 5 years.


Another significant amendment is that as a part of the initial investment applicant must purchase real estate worth at least 500, 000 euro and it cannot be sold. Cyprus aims to tighten the requirements of its program and distribute further benefits to the local population coming from the investments raised through the program, in an effort to increase its credibility in home and abroad.