Cyprus has struck a production-sharing deal for the Aphrodite gas reservoir worth over $9 billion over 18 years between the government and the Noble Energy, Delek and Shell joint venture (JV).
Based on published reports, the agreed profit split is now about 57 per cent to Cyprus and 43 per cent to the JV. So the total profit would be $16.7billion. The development cost, including operations and maintenance, is report... Read more
The number of property sales in Cyprus rose sharply in May 2019 with Paphos and Limassol districts recording the highest number of transactions. And this could be related to the recent implementation of new criteria on the Mediterranean island’s popular citizenship for investment scheme.
Figures released by the Department of Lands and Surveys show that Paphos is leading the way where sales more than doubled compared... Read more
The main changes to the Cyprus Investment Programme which will take place on the 15th of May 2019.
Investment requirement for residential properties is kept at €2,000,000. Investment in other sectors is €2,500,000. Any application which includes resale property already used for a previous Citizenship application by another applicant, increases the amount of investment for the New Application to €2,500,000.
A donation of €75,000 for Research and Innovation will be mand... Read more
We all know Cyprus is a beautiful Mediterranean island. But did you know Cyprus is a developing country that right now is investing billions of euros in its infrastructure? Watch our video about 5 large scale projects that are currently ongoing... https://youtu.be/63T9kiksaGA Read more
The island of Cyprus, a “jewel” of a Mediterranean island and the mythical birthplace of Aphrodite, combines a rich cultural heritage and great natural beauty. We are sharing with you this amazing video created by the very talented team of Cyprus Aerial Photography. Enjoy. Read more
Cyprus on Wednesday approved a series of changes to its much-criticised Citizenship for Investment scheme, so it becomes “more targeted and trustworthy”, said Finance Minister Harris Georgiades. The Cabinet approved new criteria which will see a Cyprus passport being granted in exchange for an investment of €2.5 mln, raising it from €2 mln, including the purchase of a residency. Provision was also made for a mandatory donation of €75,000 to the Resear... Read more