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UGLOBAL IMMIGRATION MAGAZINE
into effect this year. The overall purpose of the changes
was to enhance the credibility and the efficiency of the
program and to secure the country’s reputation with an
ultimate goal of benefitting the economy. Indeed, the new
guidelines meant that the program is now more regulated
while the investment is safeguarded through legal
provisions. Additionally, the program acquired a socially
responsible character, since the new changes provide
for support for research and development as well as for
“ The overall purpose of the
changes was to enhance the
credibility and the efficiency of
the program. ”
contribution to housing incentives for sensitive groups,
which have been affected by the increase in housing
prices caused by the program’s popularity.
KEY CHANGES TO CIP
In May, a donation of 150,000 euros was introduced, which
is split between the Research and Innovation Foundation
and the Cyprus Land Development Corporation. In spite
of the beneficial aspect of the donation to the society at
large, this criterion has increased the overall cost of the
investment, especially taking into account the relevant
duties and taxes (e.g. VAT on new properties.)
In July, the Council of Ministers decided to impose the
requirement for the donation, following the approval of a
successful citizenship application, instead of requiring
the donation at the early stages before the submission
of the application. This was a positive development for
interested investors since their funds will not be donated
if and when a citizenship application is rejected.
Also, the minimum period of maintaining the investment
has been increased from three to five years. While
this extends the overall return on interest, maintaining
the investment for two more years has been neutrally
received by interested investors. In addition to this, a
valid Schengen visa must be presented at the time of
submission of the investors’ application. The same
requirement applies to any of their family members who
are over 18 years old.
The criterion of investing in governmental bonds is no
longer an option, while the financial criterion of bank
deposits has not been available since September 2016.
Instead, the investment in securities on the secondary
của đất nước với mục tiêu cuối cùng là mang lại lợi ích
cho nền kinh tế. Thật vậy, các hướng dẫn mới có nghĩa
là chương trình hiện tại được quy định rõ ràng hơn đồng
thời các dự án đầu tư cũng được các quy định pháp luật
“ Mục đích chung của những thay đổi
là nâng cao uy tín và tính hiệu quả
của chương trình. ”
bảo vệ. Ngoài ra, chương trình đã trở nên có trách nhiệm
với xã hội, vì những điều sửa đổi, bổ sung mới bao gồm
cả việc hỗ trợ cho nghiên cứu và phát triển, cũng như góp
phần thúc đẩy nhà ở cho các nhóm đối tượng nhạy cảm,
vốn đã bị ảnh hưởng bởi giá nhà đất tăng do sự phổ biến
của chương trình.
NHỮNG THAY ĐỔI CHÍNH ĐỐI VỚI CIP
Vào tháng 5, một khoản quyên góp 150.000 euro đã được
đưa vào thực hiện, quỹ này được phân phối giữa Quỹ