The Cyprus government has unveiled new rules for its golden visa scheme which take effect from today (2 May). Ministry of Interior minister Constantinos Ioannou said last week the changes were necessary "to eliminate weaknesses" in the existing criteria. The minimum investment for the investor permanent residency scheme is unchanged at €300,000 in property or in a company based in Cyprus employing at least five people. But the new rules do mean that applicants are required to prove on an annual basis that they have maintained their investment as well as meet the bar of a required i...
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