On 25 May 2013, the Council of Ministers laid down new criteria and conditions for the naturalisation of foreign investors and entrepreneurs by exemption. The new Citizenship by Investment scheme of the Republic of Cyprus aims predominantly to entice and incentivise foreign investors, entrepreneurs and high net worth individuals to invest in Cyprus in return for an alternative citizenship and a Cypriot (EU) passport.
L. Papaphilippou & Co
律师事务所
律师
塞浦路斯
Associate
L. Papaphilippou & Co
Cyprus
The increasing popularity of the Cypriot Citizenship by Investment scheme in China has much to do with its unique features. With the review of the complete application by the Council of Ministers taking four to six months, this means that the applicant acquires a Cypriot (EU) passport fast. Once Cyprus citizenship has been acquired, it is for life. Not only the applicant, but his dependants, may enjoy full Cypriot (EU) citizenship for life.
As dual citizenship and passport are permitted under Cyprus law, this means that the applicant does not need to relinquish any other citizenships and/or passports he or she may have. Further, the applicant is not obliged to sit any language aptitude or other local knowledge tests.
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Nick Tsilimidos is an associate at L Papaphilippou & Co in Cyprus
17 Ifigenias street
2007 Strovolos, P.O. Box 28541
2080 Nicosia, Cyprus
电话 Tel：+357 22 27 10 00
传真 Fax：+357 22 27 11 11
电子邮件 E-mail：nt@papaphilippou.eu
www.papaphilippou.eu
