Citizenship by Investment in Cyprus
New attractive legislation is in place which makes obtaining the Cyprus/EU Citizenship even easier. The relevant scheme grants approvals within 3-4 months. Compared to the previous scheme, thresholds are considerably lower (reduced to €2mln from €5mln), in addition to a more inclusive set of criteria. Investors do not need to reside in Cyprus and they do not become tax residents (unless they spend over 183 days in Cyprus). The scheme is in force from November 1st, 2016 onwards.