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04.03.2019

From the 15th May 2019 changes to the Citizenship Procedure come into force when investing in Real Estate

Now is the perfect time to invest in property at Aphrodite Hills Resort, especially if as an investor, you are also looking at obtaining Cyprus Citizenship.

 

Aphrodite Hills offers a selection of world-class real estate that is second-to-none, constructed to the highest of standards and offering an overall finish that exceeds even the most exacting of expectations. The Villas of both the Ouranos and Aeneas projects at the Resort adhere entirely to the new requirements expected of the revised Cyprus Investment Programme (CIP), which will come in to force from 15th May 2019.

 

The Cyprus Council of Ministers, on the 13th February 2019, in an effort to further regulate CIP and to secure its continuity, approved the following revisions to the Programme:

  1. Required Investment: If the property has already been used for obtaining Cyprus Citizenship, the required investment should be a minimum of €2,500.000 + VAT.

 

  1. Compulsory One-time Donation: A compulsory one-time donation is required of €150,000. This donation is to be split between two payments: €75,000 to the Government’s Research & Innovation Programme and €75,000 to the Cyprus Organisation of Land Development, to help fund affordable housing schemes.

 

  1. Exit Strategy: During a 5-year period the investor will be able to change his investment, provided that a consent has been granted in this regard by the Ministry of Finance.

 

  1. Schengen Visa: It is mandatory to have a valid Schengen Visa. The Schengen Visa is the most common visa for Europe. It enables its holder to enter, freely travel within, and leave the Schengen zone from any of the Schengen member countries. There are no border controls within the Schengen Zone.

 

  1. Due Diligence & Background Checks: Due diligence and background checks shall be carried out by a specialised foreign firm for each applicant.

 

  1. Planning Permit Required: A Planning Permit is mandatory for all properties under construction.

 

 

Aphrodite Hills Real Estate offer an excellent selection of property investment opportunities, that all fully meet the required revised criteria, as listed above.

 

NOW is the time for investors to purchase a property AND receive their Cyprus Citizenship before the revised amendments come into force in May 2019.

 

If you are looking to maximise the associated benefits when purchasing Real Estate at Aphrodite Hills Resort and in Cyprus, then don’t hesitate in contacting us for further information.

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