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Cyprus denies ‘selling’ EU citizenship to rich

Cyprus Finance minister Harris Georgiades has said that reports in the Guardian newspaper concerning the granting of EU citizenship to billionaire Russians and Ukrainians are exaggerated.

Cyprus 7th in citizenship by investment

Cyprus has emerged as one of the most popular jurisdictions for EU and non-EU nationals in the Citizenship by Investment Index, published by Financial Times group’s Professional Wealth Management.

Contract signed for Cyprus casino resort

Earlier today a landmark deal for Europe’s largest casino was signed between the gaming authority and the Melco Hard Rock consortium at the Filoxenia Conference Centre in Nicosia.

Revised citizenship scheme approved

The Cyprus government has approved a revised citizenship-by-investment scheme designed to further encourage investments in the island’s economy by non-Cypriot businessmen and investors.

Plans for luxury apartments in Larnaca

Lebanese investor Yussef Kanaan has announced plans to invest €15 million to build luxury apartments in Larnaca on land that he purchased for €3.5 million and expects to get a building permit within the week.

Citizenship scheme raises €2 billion

The ‘Citizenship by Investment’ programme for foreigners has boosted the Cyprus economy by €2 billion from property sales and investments in the country according to an audit services report.

Ayia Napa marina investment

Naguib Sawiris, billionaire businessman and founding member of the Al Masreyeen Al Ahrrar political party, plans to invest around €220 million in the construction of the Ayia Napa marina.

Ayia Napa marina gets green light

Although contracts were signed two years ago, the Town Planning Department has just been given the go-ahead to issue a licence for the construction of the long-awaited Ayia Napa marina.

Cyprus needs to earn trust of Chinese investors

A conference in Nicosia has heard that Chinese property buyers are slowly returning to Cyprus, but that the country needs to earn their trust if it wants them to make further investments.

Business development stifled by bureaucracy

The 11th edition of the Doing Business 2014 – Understanding Regulations for Small and Medium-Sized Enterprises report highlights some of the bureaucratic problems that hamper Cyprus’ ability to attract investment.

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