The Government of Cyprus in the recent decision of the council of ministers taken on the 13th of February 2019 has decided to change the "Cyprus Investment Programme” in order to make it more trustworthy and targeted. The following provisions will apply to all citizenship by investment applications submitted as from the 15th of May 2019,
For any applications submitted prior to the 15th of May, the previous provisions are still applicable with the exception that the applicant should not have been rejected on an application for citizenship in any other member-state of the European Union. This provision applies immediately and in such a case the applicant is not eligible to apply for the acquisition of the Cypriot citizenship through the Cyprus Investment Programme.
a) To donate €75.000 to the Research and Innovation Foundation, or to invest at least €75.000 in a certified innovative enterprise or a certified social enterprise.
The above obligation is lifted If the applicant has made an investment under the criterion for Purchase / Establishment /Participation in Cypriot Companies of a total amount equal to at least €400.000 in a company active within the primary, or secondary sector of the economy (excluding constructions), or in the sectors of research and development, education, health and renewable energy sources.
b) To donate €75.000 to the Cyprus Land development Corporation.