VIZUS H.C. LTD - the licenced provider of Cyprus Investment Programme

VIZUS H.C. LTD - the licenced provider of  Cyprus Investment Programme

VIZUS H.C. LTD - one of the companies of VIZUS GROUP – is licensed service provider of the Cyprus Investment Programme.

As of July 31, 2018, the consulting company VIZUS H.C. LTD is in the list of 255 individuals and companies, entitled by the Ministry of Finance of the Republic of Cyprus to provide the services to the foreign investors who are willing to invest at least 2 million euros in the Cypriot economy in exchange for acquisition of the citizenship: http://cipregistry.mof.gov.cy/en/

As of spring of 2018, the Government of the Republic of Cyprus revised the rules for granting citizenship of the Republic of Cyprus in exchange for investments. The Committee of Supervision and Control for the Cyprus Investment Programme was established on the basis of a Council of Ministers decision, aiming at further improving the Cyprus Investment Programme. Its purpose is to eliminate misapplications and violations.

The recent amendments to improve CIP, briefly, consist of the following:

1. As of July 31 2018, any applications for the Cyprus Investment Programme may be submitted on behalf of the applicants only by natural / legal persons registered with the Registry of Service Providers (Registry) of the Cyprus Investment Programme.

2. The service provider has to submit a report of the findings of due diligence review for each applicant, as specified in the Code of Conduct provided by an extract from it (for example, World Check, LexisNexis Diligence) with a date not later than thirty (30) days from the date of its application.

3. A Self-Declaration form, duly completed and signed, must be submitted by the applicant / investor who received services for the purposes of the Programme.  

4. A Self-Declaration form, duly completed and signed, must be provided by the service provider for CIP purposes, confirming its knowledge, professionalism, compliance with the CIP and its Code of Conduct, and any other relevant laws and regulations.

5. According to the Resolution of the Council of Ministers dated 21.05.2018, the expected period for consideration of any application submitted in accordance with the CIP provisions is six (6) months.

6. The Council of Ministers has introduced an annual quote which allows a maximum of 700 investors participate in the Cyprus Investment Programme.