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Cyprus seeks to attract long term investors
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April 4, 2021
To further attract foreign investment to the island and help economic recovery, Cyprus announced amendments to Regulation 6 (2) of the Aliens and Immigration Regulations, which came into effect on March 24.
The regulation gives non-EU nationals the right to reside in Cyprus permanently. The revision is in line with the Government’s objective to stimulate foreign investment in areas other than real estate and promote Cyprus funds.
The amendments introduced to the Cyprus Residency Programme are more than welcome, especially after the previous Cyprus Investment Programme was suspended.
We are optimistic that the Residency Programme, as amended, will continue to attract those investors who are searching for a Plan B to safeguard their families, in addition to merely protecting their wealth.