Revised Cyprus EU Citizenship Scheme Approved through Parliament

The Council of Ministers have just approved this week the revised scheme for granting Cyprus EU Citizenship to non-Cypriot investors and Entrepreneurs.

In a statement to the press Mr Harris the Minister of Finance said that the revision of the scheme aims to encourage " Real Investments" that will benefit the Cyprus Economy. 

The Government also said that they want to attract new investors who will choose Cyprus as their base for residence and economic activities. 

New Investors need to be kept in Cyprus for a minimum of 3 years and companies in which investments are made should employ at least 5 local Cypriot citizens , so aiding local jobs as well.

The most important changes are that this new updated scheme abolishes the provision for a collective investment of € 12 million and is reduced to € 2 million with the purchase of a private residence of at least € 500,000 , so this opens up Cyprus as a very attractive proposition to many more non-EU investors , primarily in China and Russia , but also now in Great Britain after the BREXIT vote. 

11th International Film Festival starts in Paphos

Weds 14th September 2016

The eleventh Cyprus International Film Festival – The Best of the First – (CYIFF) will start in Paphos on Wednesday 14th September and screen 100 films in addition to a few parallel events that might even make you feel you are at the Oscars.

The festival, that will run over a period of 12 days at both K-Cineplex the Kings Avenue Mall and at the Neapolis University amphitheatre, will include feature films, animations and documentaries from directors from 37 countries from around the world.

All screened films will enter a number of competitions, the main one being the Golden Aphrodite for feature films, named to honour the goddess Aphrodite who is said to have been born in the waters of Paphos and is the reason why Cyprus is called the island of love.