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€2.4 billion revenue in past two years through Cyprus Investment Programme

February 6, 2019 at 2:14pm

Cyprus made €2.5 billion in revenue through its Cyprus Investment Programme in the past two years, Insider reported on Wednesday.

According to Insider information, the majority of the investments took place in 2017, when 503 individuals acquired Cypriot passports for investing around €1.5 billion.

Real-estate was the most popular investment option in 2017, as more than €1 billion were spent to buy property through the programme, Insider writes. Around €500 million were invested in companies/businesses.

In 2018, 352 individuals acquired Cypriot passports for investing €893 million. Again, real-estate was the most popular investment option, as 322 of the individuals spent money on property, while 25 invested in companies.

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