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How can I invest in my own startup business to fulfill the requirements of Cyprus’ CBI program?

I understand that under the new regulation, it is required to invest 75,000 euros in a startup company in order to participate in the CBI program of Cyprus. Can a CBI applicant set up a new company and invest in his own startup to fulfill this requirement?


Answers
  • CHRISO SAVVA LLC
    November 14, 2019

    Please note that the amount of 75,000 euros is required to be paid into a specific bank account designated by the government or be contributed to an existing startup. In addition to this, you will need to invest the amount of 2 million euros and purchase a house for the value of 500,000 euros plus VAT.

  • Costas Indianos & CO – Advocates & Legal Consultants
    November 14, 2019

    Please note that the minimum investment has been reduced from 50,000 euros to 20,000 euros, all other financial criteria remaining the same. The applicant must set up an innovative company with a 10% budget dedicated to research and innovation.

  • CA Advocates (Pourgoura & Aspri LLC)
    November 14, 2019

    The applicant must have donated at least 75,000 euros to the Research and Innovation Foundation. This obligation is lifted if the applicant has invested at least 75,000 euros in a certified innovative enterprise, an enterprise that had acquired the relevant certificate by the Ministry of Finance. The applicant must have donated at least 75,000 euros to the Cyprus Land Development Corporation for the financing of housing schemes for affordable housing, but also for the materialization of other housing schemes/measures. If you can create your own company that will be approved by the Ministry of Finance, then you may proceed as such.