The Ministry of Interior’s proposal to revise the criteria for granting permanent residency under Regulation 6(2) of the Aliens and Immigration Regulation was approved by the Council of Ministers.
New Amendments to the Provision of Regulation 6(2) of the Alien and Immigration Regulations for the Cyprus Permanent Residency Programme: Cyprus has been considered as an attractive destination for investors, individuals and their families for many reasons, such as: a favourable tax framework with an expanded network of double tax treaties (currently 65); fast access…
Managing and/or marketing funds across the EU – Options for UK fund managers in view of Brexit Passporting allows UCITS and AIFs, as well as UCITS Managers and AIF Managers registered in Cyprus and licensed by CySEC, to manage and/or market funds across the EU, without having to apply for any additional authorisation. Cyprus may…
On the 13th of September 2016 the Cyprus Government approved the new regime for granting Cypriot – European citizenship for foreign investors. The new regime is the more competitive Citizenship programme in Europe and it is expected to attract an increase of citizenship applications. The regime provides for the reduction of the required investment to…
The new criteria for granting Cypriot citizenship with the Scheme for Naturalization of Investors in Cyprus by exception to foreigner investors were approved on 19th March 2014 by the Council of Ministers. The major changes are mentioned in criteria 8 where it is noted that the Council of Ministers has the right to decrease the…
Cyprus property market is picking up with a 67% growth year to year. In accordance to Land Registry statistics the numbers are not really huge but the rates are and it seems that the real estate market is kick starting. The growth rates per district are the following: Nicosia (Capital): 131%; Limassol: 4%; Larnaca: 50%;…
Cyprus has recently enacted a regulation allowing for a permanent residence permit via property investment. The regulation provides for the grant of a Cyprus permanent residence permit if the candidate purchases a privately-owned residence for self-occupancy in Cyprus, with a value of not less than €300.000. Main Conditions The applicant must prove that he has…