New Regulations of Submitting the Applications for Cyprus Investment Programme

New Regulations of Submitting the Applications for Cyprus Investment Programme

By Council of Ministers Decision, the Committee of Supervision and Control for the Cyprus Investment Programme was established, aiming at further improving the Programme.

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 using a special form on the website of the Committee http://www.moi.gov.cy/moi/moi.nsf/All/36DB428D50A58C00C2257C1B00218CAB. Property developers, law and accounting firms and other professionals, who can be the service providers are required to sign and comply with the provisions of a Code of Conduct. In addition, the service providers will have to submit a report of the findings of due diligence review for each applicant, as specified in the Code of Conduct.

In June 21 the representatives of our company VIZUS GROUP participated in a special training seminar and received a certificate of attendance, which is one of the registration requirements for service providers.

Cyprus’s citizenship-by-investment scheme, renamed Cyprus Investment Programme, as before allows investors to acquire the Cypriot citizenship in a fast-track procedure with a €2mln investment.