CYPRUS INVESTMENT PROGRAM (AMENDMENTS – JULY 2019)
Civil Registry Laws of 2002-2015
The Council of Ministers of Cyprus have approved the below amendments on the Cyprus Investment Program:
Α. EXCLUDED HIGH RISK PERSONS
High Risk Persons are no longer allowed to submit an application under the Cyprus Investment Program.
The term “High Risk” person has been defined in the official publication for the amendments of the Cyprus Investment Program as below:
- Political Exposed Person (PEP), term which includes, a person or persons who are either politically exposed persons at present or they have been so within the last five years.
- People who are subject to criminal investigation even before the lay of any official charge
- People who are subject to criminal prosecutions and are defendants
- People who have been convicted to imprisonment for serious offences (i.e. bribery by a public person, tax evasion etc.) even if the offence has been expunged from police records.
- People who are related to legal entities in which restrictive measures have been imposed by the European Union (i.e. Shareholders, Ultimate Beneficial Owners, Managing Directors) – this extends to people who at the time when the restrictive measures have been imposed, were related to the legal entities, even though they have resigned from the legal entities – people who have resigned prior to the imposing of the restrictive measures are not included
- People for whom sanctions have been imposed by a third country (i.e. USA, Russia, Ukraine)
- People who are related to legal entities in which sanctions have been imposed by a third country
- People who are under investigation or are accused of criminal offences and are wanted within Europe by EUROPOL or Internationally by INTERPOL
- People who have been investigated and have been accused of criminal offences and/or are wanted within Europe by EUROPOL or Internationally by INTERPOL
- People who are subject to sanctions from the United Nations Security Council (UN)
B. DONATION (A1 CRITERION)
Α.1 Economic Criteria:
The applicant must fulfil the criterion of the Donation of the amount of €75.000= to the Research and Innovation Foundation and the Donation of the amount of €75.000= to the Cyprus Land Development Corporation.
The Donation of the two above amounts can be completed after the approval of the Citizenship Application by the Council of Ministers and not in advance.
C. COMBINATION OF INVESTMENTS (A5 CRITERION)
In the combination of Investments under Criterion A5 of the Cyprus Investment Program, the applicant will have the possibility to invest in stock markets of the secondary market of the Cyprus Stock Exchange up to the amount of €200.000=.