Loading...
topic
HOME  /  NEWS  /  CITIZENSHIP CRITERIA MORE RELAXED FOR “COLLECTIVE INVESTMENTS”

News

Search News
Citizenship criteria more relaxed for “collective Investments”

Citizenship criteria more relaxed for “collective Investments”

The Council of Ministers announced on 28 March 2014 certain changes to the criteria by which Cypriot citizenship is granted (by way of exception) to foreign investors.

The main amendments relate to the discretion of the Cabinet to lower certain criteria regarding investment in real estate, development and infrastructure projects and regarding the purchase, establishment or participation in Cypriot businesses and companies, government bonds and assets in Cypriot enterprises or organisations.

The ‘special cases’ concern:

  1. The amount necessary for foreign investors to secure a Cypriot passport, which is reduced to €2.5 million for someone participating in a collective investment worth at least €12.5 million.
  2. The amount necessary for foreign investors to secure a Cypriot passport, which is reduced to €2.0 million for someone participating in a collective investment worth more than €12.5 million. This provision will apply until 1.6.2014.

Note: Collective investment does not imply that one property/asset is acquired by all investors collectively (i.e. in practice, a number of different properties may be purchased by any of the investors and be registered in his/her own name).

 

Related News

We are looking to recruit an enthusiastic, motivated and responsible individual, with excellent communication and interpersonal skills and a positive approach, who should be able to work under pressure ...
We are delighted and proud to announce that our firm has been ranked for another year by the reputable directory Chambers and Partners.
We are delighted to announce that Andreas Erotocritou has been ranked as “Thought Leader” in Commercial Litigation and the Asset Recovery sector by the reputable directory Who’sWhoLegal, following independent ...