Partly spurred on by a pending price-hike, investors have picked up some EUR 1.1 billion in (mostly) real estate assets so far this year.
Figures obtained by StockWatch Cyprus indicate 550 investors have gained approvals for their CIP-applications in the year to date, a number just shy of record-year 2018, which saw 581 main applicants approved.
Assuming each participant made the minimum EUR 2 million investment, the world’s most lucrative citizenship by investment program will have benefited from a EUR 1.1 billion capital injection, or about EUR 28 million a week, in 2019. The great preponderance of that, presumably, will have been recorded prior to May 15th as investors scrambled to file their applications before the onset of new rules that added a EUR 150,000 donation to the program criteria.
While the Cyprus CIP has enjoyed eight straight years of application growth, a self-imposed ceiling of 700 applications annually – a policy introduced last year largely to mollify concerns in Brussels – will prevent the program from continuing its upward trajectory indefinitely; if not in terms of euros (they could always raise the price of entry) then at least in terms of the absolute number of new citizens.
See recent articles, statistics, FAQs, and more about the Cyprus CIP on its Program Page. To see which companies can assist with an application to the Cyprus CIP, visit the Residence & Citizenship by Investment Company Directory.
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.