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ILN Today Post

New Improved Criteria for Citizenship by Exemption

On Friday, 16th of September 2016, the Cyprus Government revised the economic criteria and conditions of the Scheme for Cyprus citizenship by investment (the “Scheme”) so as make it more attractive for non-Cypriot investors wishing to acquire Cypriot Citizenship.

The most important change is that an applicant is, now, only required to make an investment of €2.000.000, instead of €5.000.000 as had previously applied.  The required investment can be in real estate, tourism and infrastructure projects or in shares or financial instruments of companies operating in Cyprus, including investment in Alternative Investment Funds. The Scheme also allows the investment in Cyprus Government Bonds for a maximum amount of €500.000.

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