On the 13.2.2019 the Council of Ministers introduced new criteria and terms aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Within this framework and taking into account the strong investor interest, the Government of Cyprus has established and revised the “Cyprus Investment Programme” (Programme) on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2019, with specific incentives, terms and conditions and control procedures in order to prevent abuse.
Harris Koufettas & Associates LLC is a registered official provider authorized by the Ministry of Finance of the Republic of Cyprus, keeping in line with the high standards set up by the Republic of Cyprus.
Reg. No. (CIP) 119
On the basis of the Programme, a non-Cypriot citizen may apply for the acquisition of the Cypriot citizenship through naturalization by exception, if he/she fulfils the financial criterion A.1 and one of the financial criteria A.2-A.5, either:
A.1. Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation:
The applicant must proceed additionally with any of the following investments in Cyprus:
A.2. Investment in real estate, land development and infrastructure projects of at least €2 million for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects.
A.3. Purchase or Establishment or Participation in Cypriot Companies or Businesses of at least €2 million for the purchase or participation in companies or organizations established and operating in the Republic of Cyprus with investment costs of. Moreover, investments in the shipping sector are eligible on the basis of measurable criteria that will be determined jointly by the Ministry of Finance and the Shipping Deputy Ministry.
A.4. Investment in Alternative Investment Funds or Registered Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by Cyprus Securities and Exchange Commission of at least €2 million. It is permitted for these AIFs or RAIFs to invest in secondary market stock-market values of the Cyprus Stock Exchange an amount that does not exceed the €200.000.
A.5. Combination of the aforementioned investments provided that the total investment will amount up to at least €2,0 million.