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UGLOBAL IMMIGRATION MAGAZINE
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• The applicant will also need to obtain a Schengen
Visa before applying for the investment.
• Applicants need to make a donation of 75,000
e u r o s to t h e Fo u n d a ti o n fo r R e s e a r c h a n d
Innovation (which can be waived under certain
conditions) and a donation of 75,000 euros to the
Cyprus Land Development Corporation.
• Proper ties under construction will require a
mandatory planning permit.
• Applicants can no longer invest in government
bonds, however they are now allowed to invest in
the shipping sector as a new option.
• Investments in a registered Alternative Investment
Fund has been added as an eligible investment
as well as the possibility for these Organizations
to invest up to 200,000 euros in the Cyprus Stock
Exchange's secondary market.
• For the purchase of new residencies, the
investment remains at 2 million euros, while
re-sales require a minimum investment of 2.5
million euros.
Other positive amendments include that only authorized
service providers approved to represent the program in
Cyprus can offer services. These providers, including
both individuals and legal entities, also need to follow a
Code of Conduct for the Cyprus investment program.
NADA STAROVLAH
Nada Starovlah is a qualified Barrister based in Limassol, Cyprus.
She specializes in the field of litigation with a cross border
element. She was awarded by Legal500 for offering sound advice
to clients. She is a member of the Cyprus Bar Association, the
Council of the Bar of England, the Honourable Society of the
Inner Temple and the Chartered Institute of Arbitrators. She has
obtained her LLB from the University of Manchester, then qualified
as a Barrister and has obtained her LLM from the Queen Mary
University. She speaks English and Greek.