LS Legal News Bulletin
Important Changes in Cyprus Investment Program comes into force on 15 May 2019
Monday 15th April 2019
What's new:
- Investment period: 5 years following the date of naturalisation, instead of 3 years;
- Schengen Visa required: Applicants will have to be in possession of a Valid Schengen visa in order to be eligible to apply for naturalisation;
- A mandatory donation fee of EUR 150,000. The amount includes EUR 75,000 to the Research and Innovation Foundation plus EUR 75,000 to the Cyprus Land Development Corporation;
- Investment requirements for real estate investment other that residential properties: increase up to EUR 500,000 and will be EUR 2.5million for all new applicants submitting after 15 May 2019.
Mentioned changes require a higher investment than before. Taking this into account, if you are looking to take up this program and become a European citizen in 180 days it's better to apply before 15 May without delay.
LS Legal Solicitors may assist you with any type of immigration and citizenship application. Please contact our firm on 02081445588, via email on info@LSLegaLUK.com or use the contact box to discuss your matter or make an appointment.
