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What RCBI incentives are available to foreign investors in Cyprus now when its CBI program is gone?

I'm a foreign investor based in Malaysia. The Cypriot president recently said other incentives for foreign investors would remain available even though the path to naturalization might be off the table. What incentives are these?

Answers
  • Michalis Anastasiou
    Evagoras Anastasiou & Associates LLC
    February 04, 2021

    The permanent residency-by-investment program remains available. An investor can obtain for themselves and their family permanent residencies in Cyprus by: investing at least 300,000 euros (plus VAT) in a brand-new house or apartment; depositing at least 30,000 euros in their Cypriot bank account which should remain there for three years; prove their yearly income of minimum 30,000 euros from abroad, which increases by 5,000 euros for each dependent (spouse and children); show a clean criminal record from their current country of residence.

  • Celia Pourgoura
    CA Advocates (Pourgoura & Aspri LLC)
    February 04, 2021

    There is no new program announced involving citizenship; however, there are already many programs and taxation benefits in place. There is the residence permit program, there is the intellectual property program, and there is the start-up visa program.

  • Yiannos Vasiliou
    Vasiliou Law
    February 15, 2021

    A variety of different incentives remain available. You would need to consult with an immigration attorney to know what options would work best for you.

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