Newsletter No.1 – October 2018

Enhancement of the Cyprus Investment Programme

According to the Cyprus Investment Programme, a non-Cypriot citizen who meets certain economic and other criteria may file an application with the Minister of Interior for the acquisition of the Cypriot Citizenship.

The Cyprus Investment Programme is becoming more and more popular through the advantages which it offers. Aiming at further improving the Cyprus Investment Programme, the Council of Ministers through a Decision has established the Committee of Supervision and Control for the Cyprus Investment Programme, consisting of representatives from the Ministry of Finance, the Ministry of Interior and Invest Cyprus.

As of July 31^st, 2018, any applications for the Cyprus Investment Programme can only be submitted on behalf of the applicants by natural / legal persons registered with the Registry of Service Providers (Registry) of the Cyprus Investment Programme. All applications must be accompanied, inter alia, by the service provider Self-Declaration form and by the applicant’s Self-Declaration form who received services for the purposes of the Programme. In addition, 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.

Our law firm E. TZIONI & ASSOCIATES LLC, being a legal person registered on the Registry of Service Providers (Registry) of the Cyprus Investment Programme as of 8 October 2018, may offer the following services:

• Preliminary consultation and provision of legal advice and insight on the requirements to obtain the Cyprus Citizenship.
• Performance of legal due diligence on the business, corporate entity or property to be acquired.
• Legal advice on the preparation, drafting, review or negotiation of any agreement or legal document regarding the purchase of property in Cyprus or making other eligible investment.
• Legal advice and support throughout the process and communication with the Ministry of Interior for submitting and following up on the application until obtaining the Cyprus Citizenship or the Cyprus Residency Permit.

For more information you can contact Eleni Tzioni at eleni@tzionilaw.com.cy and on +357 22932293.