Since 1970
Call us: +357 (24) 822 870 // www.palourtis.com

Newsletter

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... read more

  • 30 April 2019 KPMG Sales of many properties over 1 million

    The exogenous demand for luxury properties, particularly in Limassol, is... read more

  • 22 April 2019 Cyprus real estate investment Prospects and Risks

    The figures, trends and the state of the Cyprus real estate market over the... read more

  • 19 April 2019 Solution for trapped buyers edging closer

    Amendments to the law designed to resolve the Title Deed mess by enabling... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... read more

  • 30 April 2019 KPMG Sales of many properties over 1 million

    The exogenous demand for luxury properties, particularly in Limassol, is... read more

  • 22 April 2019 Cyprus real estate investment Prospects and Risks

    The figures, trends and the state of the Cyprus real estate market over the... read more

  • 19 April 2019 Solution for trapped buyers edging closer

    Amendments to the law designed to resolve the Title Deed mess by enabling... read more

Revised citizenship scheme approved

   

THE COUNCIL of Ministers approved on Tuesday the revised scheme for granting Cypriot citizenship to non-Cypriot entrepreneurs/investors. In statements to the press on Wednesday, Minister of Finance Harris noted that the revision of the scheme aims to encourage real investments that would benefit the economy. The government, he said, wants to attract investors who will chose Cyprus as their basis of residence and economic activity. Investments should be kept for three years and companies in which investments are made should employ at least five Cypriot citizens. The most important change, Georgiades said, is that the revised scheme abolishes the provision for collective investment of €12 million which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000. The new scheme terminates the provisions for the granting of citizenship to those with bank deposits worth €5 million, to persons whose deposits have been impaired due to the measures implemented after the 15th March 2013 and those who purchased bonds worth €2.5 million.

Read more at: http://www.news.cyprus-property-buyers.com/2016/09/15/revised-citizenship-scheme-approved/id=00151628
Copyright © Cyprus Property News