The Cypriot Government has announced some important changes to their popular Citizenship by Investment programme this week. The most significant changes are as follows.

Previously, applicants were required to purchase real estate for a minimum of €2,000,000 and then make an additional donation of €150,000. This donation has now increased to €200,000, bringing the total programme cost to €2.2 million.

On a positive note, all family members are now able to submit their citizenship applications simultaneously, which was previously not allowed. This amendment is expected to significantly increase the processing time for family applications.

Additionally, along with the main applicants’ parents, parents-in-law can now also be included under a family application, providing they invest a further €500,000 into real estate.

A few other amendments were published relating to applications from a Politically Exposed Person (PEP) and documentation for processing. For a full breakdown of the changes, please get in touch with our experts.

Tags: citizenship by investment 2020 , cyprus , europe

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