EXCEPTIONAL NATURALIZATION

For the background information on the topic please refer to the article Acquiring Cypriot Citizenship by Direct Investment. What is the applicable law? Law 141(Ι)/2002-2011 (sections 109-113 και 3rd schedule) Appendix “D” of the Treaty of Establishment of the Republic of Cyprus Ministerial Council Decision dated 10.10.2011 1.  Immediate Investments Investment Purchases of immovable property, or businesses/companies […]

ACQUIRING CYPRIOT CITIZENSHIP BY DIRECT INVESTMENT

The Council of Ministers has in recent years announced a policy according to which it will examine favourably applications for citizenship provided certain investment criteria are satisfied. The main pillars of this policy are: Direct Investments: The applicant should have direct investments in Cyprus of more than €25 million), i.e. land, offices, factories etc OR Entrepreneurial […]

NEW CYPRUS DRILLING ROUND FOR OIL AND GAS LICENSING

A new oil and gas licencing round organised by the Republic of Cyprus. Further drilling blogs in the eastern Mediterranean will contribute to energy security in southern Europe. The new round was announced by the Cypriot government on 13 February, with 12 offshore blocks available. The blocks being offered are located off the southern coast, […]

NOBLE ENERGY ANNOUNCES SIGNIFICANT NATURAL GAS RESERVES OFFSHORE CYPRUS

On December 28th Noble Energy, Inc. made an official announcement of a natural gas discovery at the Cyprus Block 12 of the Aphrodite Gas Field, offshore Cyprus. Results from the Cyprus A-1 well indicate from 5 to 8 trillion cubic feet of gas and could be enough to power all the electricity on the island […]

CYPRUS TO BECOME THE RICHEST COUNTRY IN EUROPE

Ten years ago when I was applying to grad schools with my Cyprus diploma, there were couple of occasions when, to my shock, I was asked where Cyprus was. Since then things have changed.  Cyprus popularity grew and reputation strengthened, especially, in the area of international tax planning.   But will this trend continue?  Is it […]