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Important changes in the Cyprus investment programme for citizenship

The Council of Ministers of the Republic of Cyprus has just recently proposed changes to the current Cyprus Investment Programme (citizenship by investment program), which allows obtaining the citizenship of the country in a little more than six months. The proposed changes: Investors will be required to make a donation of €75,000 to the “Cyprus Land Development Corporation” (effective from May 15, 2019); Investors will be required to make a donation of €75,000 to the “Research Promotion Foundation” (effective from May 15, 2019); Instead of the previous 3 years’ requirement, investors shall keep their investments for a period of at least 5...