Diplomatic Delegation visits Ayia Napa Marina

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18 March, 2019

Diplomatic Delegation visits Ayia Napa Marina

International diplomats, comprised of financial and commercial representatives from various foreign embassies in Athens, in collaboration with the Enterprise Greece organization under the auspices of the Embassy of Cyprus in Athens, visited the construction site of the iconic Ayia Napa Marina on March 15th, 2019. The visit took place within the framework of a wider initiative to enhance and promote business opportunities in Cyprus.

The high-profile visitors were welcomed by Stavros Caramondanis, CEO of M.M Makronisos Marina Ltd, who also conducted a tour of the construction site while highlighting the importance of Ayia Napa Marina in the reinforcement of nautical tourism in the eastern Mediterranean, and the contribution of the project to the upgrade of the Cyprus tourism product, attracting quality tourism throughout the year. Caramondanis pointed out: “Ayia Napa Marina is a unique project, not just for Cyprus but for the whole of Europe, with innovative technology used for the construction of both the marina and other areas on the grounds. This important project has already gained international recognition, exemplified by increasing interest from buyers and investors around the world. To date, 75% of the Ayia Napa Marina East Tower has already been sold and we are witnessing increased interest, mainly from Russian, Middle Eastern and Asian markets.”

During the tour, diplomats were given the opportunity to witness the significant development of the project, with the first phase of infrastructure almost complete (barring the complementary and final embankment), while the precast concrete units, produced by two dedicated batching plants near the site, are in their final phase of construction. The South Breakwater is at full length, with a few precast concrete units left to be installed. The Roadway superstructure is almost complete, while the foundations for the breakwater road and all roadworks progressing at a fast pace. The delegation was greatly impressed by the main and commercial area buildings which are now clearly visible. The construction of the chandlery, administration and government buildings are also moving full speed ahead.

The diplomats who attended the event concurred that Ayia Napa Marina deserves to be hailed among the most ambitious projects in Cyprus and the Eastern Mediterranean, and were given detailed informative material regarding recent developments, and the final look of this impressive project.

The Cyprus Spring Scenery

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14 March, 2019

The Cyprus Spring Scenery

How amazing is to be able to get from snowy mountains to the warm beach of Makronisos at Ayia Napa, in just shy of two hours? Look at the pictures below and you can feel the antithesis of scenery which Cyprus is blessed with. Today’s temperature is around 22°C and sunny.

Changes to Cyprus Investment Programme

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11 March, 2019

Changes to Cyprus Investment Programme

On February 13, 2019, the Cyprus Council of Ministers decided to proceed with the revision of the Cyprus Investment Programme.
The changes to the Programme are designed to increase transparency and to support the economy in general.



1. Investments in the shipping industry have been included in the eligible investments, on the basis of contribution to the Cyprus economy in line with measurable criteria to be set by the Ministry of Finance and the Shipping Deputy Ministry.

2. The option to invest in Cyprus Government Bonds has been abolished.

3. Investment in a Registered Alternative Investment Fund (RAIF) are now eligible, in addition to investments in an Alternative Investment Fund (AIF) established in the Republic of Cyprus. These Funds can also invest up to €200.000 in securities traded on the secondary market of the Cyprus Stock Exchange.

4. Applicants or any family members, excluding minor children, whose application for citizenship in any other EU country had been rejected, are not eligible to apply for the acquisition of the Cypriot Citizenship through the Cyprus Investment Programme.

5. Applicants and their family members, excluding minor children, must hold a Residence Permit in Cyprus for a period of at least 6 months prior to their Naturalization.

6. Due diligence checks through an internationally accepted database must be performed for all family members of the applicant, excluding minor children.



1. Donation of €75.000 to the Cyprus Land Development Corporation which is one of the main government bodies responsible for the government’s housing policy.

2. Donation of €75.000 to the Research Promotion Foundation which is the National agency supporting research/technology/innovation. If an applicant has invested 20% of his/her main investment (€400.000) in a Cyprus company operating in specific sectors set in the Decision, he/she will be exempted from this requirement.

3. In case an applicant is applying on the basis of investment in residential property/ies which have been previously used for the purpose of the Cyprus Investment Programme, the total investment amount is increased from EUR 2m to EUR 2.5m. The total investment for newly built properties will remain at EUR 2m.

4. Applicants and their family members, excluding minor children, must be holders of a Schengen Visa prior to submitting a citizenship application. Third-country nationals that do not require an entry visa for travelling in EU countries, as well as EU citizens are excluded from this obligation.

5. The applicants must hold the investments for a period of 5 years from the date of Naturalization, instead of 3 years which is with the current Programme. If an investor wishes to change his/her investment within the 5-year period, he/she should firstly obtain approval from the Ministry of Finance.

6. If the investment is in real estate, a Town Planning Permit must be in place in order for such investment to qualify. A planning permit is also required for the privately-owned residence.

7. Submission of a ‘Completion Certificate’ executed by the Architect of the Project. In case of a property which is currently under development, 5% of the value of the property must be maintained in a special bank account or secured through a Performance Bank Guarantee from the seller.

8. Confirmation from the mortgage holder (i.e. the Bank), to the benefit of which the subject property is mortgaged / secured, that it undertakes to lift the respective mortgage charge, provided that the investor or the seller will pay the Bank the full amount which is stated on the relevant Confirmation (Bank Waiver letter).


If you are considering obtaining the Cyprus Citizenship, do so before May 15th and take advantage of all current benefits.

Ayia Napa Marina has assisted many applicants from around the world to obtain the Cyprus Citizenship and guided them through every step of the process, with 100% success rate!

We have a number of tailor-made Cyprus Citizenship packages to ensure your Cyprus passport application is successful, tax efficient and profitable.


Construction Progress Update January 2019

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17 January, 2019

Construction Progress Update January 2019

We are excited to provide our first progress update report for 2019.

With Work Phase 1 [infrastructure works] being almost complete, and Work Phase 2 well underway, our construction site is buzzing with activity all day long. There’s a lot going on at the same time, with works being completed on several elements of the project simultaneously.

The geotechnical works are being completed, with just a bit of reclamation left. Precast concrete works are also nearing completion, with most units needed being produced by two dedicated batching plants on site.

The South Breakwater is at full length, with a few precast concrete units left to be installed. The Roadway superstructure is almost finished, laying the supporting foundations for the road on the breakwater.

Roadworks are progressing quickly around the project, connecting the various elements and buildings that are currently being developed.

Most importantly, the essential buildings and the commercial area buildings are now clearly visible. The chandlery, administration and government buildings are also proceeding at a quick pace.

More news to follow soon!