According to reports from domestic media in Cyprus, in order to ensure the stability and coherence of the investment citizenship policy, Mr. Hasikos, the Minister of Interior of Cyprus, has proposed that the Council of Ministers submit the aforementioned investment citizenship policy to the Parliament for discussion and legislative approval, thereby upgrading the policy from its current status as secondary law (which falls under regulations and policy) to primary law. This will permanently enshrine the policy at the legal level, making the investment citizenship law and related matters internal affairs of Cyprus, free from the constraints of EU directives or other rules. This enhances the security of investment immigration to Cyprus.
Since the implementation of the policy in 2013, which grants citizenship to foreigners who invest a minimum of 5 million euros independently or 2.5 million euros collectively, the highly valuable EU passport has been favored by investors. Cyprus has attracted over 2 billion euros in foreign investment, with the majority of investors coming from countries such as China, Russia, and Israel. This has led to a stable increase in government revenue, significantly alleviating fiscal pressure and effectively addressing the persistently high unemployment rate. It can be said that Cyprus has greatly benefited in various aspects of its economy and politics due to the implementation of this policy. However, due to the relatively low threshold for collective investment (2.5 million euros) in the "investment citizenship" policy, the EU has recently exerted pressure on the Cypriot government, demanding that the investment citizenship threshold be restored to 5 million euros or even higher once the country emerges from recession and meets relevant EU economic and financial indicators.
To this end, Cyprus will permanently enshrine the investment citizenship law at the legal level, making it an internal affair of Cyprus, free from the constraints of EU directives or other rules. The Minister expects this work to be completed within six months after Cyprus exits the EU bailout program, specifically by the first half of 2016. This is a significant benefit for immigration investors in Cyprus. This means that the professionalism of immigration service agencies and law firms, as well as their influence on the Ministry of Interior, will largely determine whether investors' demands can be met. Therefore, investors should compare various service agencies and choose the best option. Leading immigration institutions like Worldway will increasingly be favored by investors.
Cyprus is an ideal location for your investment in Europe or external investment towards Europe. According to immigration experts at Worldway, investing in Cyprus not only has a low threshold for immigration applications, allowing for flexibility in "immigrating without residing," but also provides great convenience for children's education, access to high welfare benefits in the EU, and offers convenient overseas listing pathways for high-net-worth individuals. Moreover, immigration investment will soon have the protection of primary law, which will undoubtedly attract more investors to immigrate. For more details on Cyprus investment immigration, please consult 400-138-2929.