Sign In
Last checked at 
15 Oct 2020 16:27
15 October 2020
DOLPHIN CAPITAL INVESTORS LIMITED
("DCI" or "Dolphin" or the "Company"
and together with its subsidiaries the "Group")
Ā
Update in relation to Cyprus Citizenship Investment Programme
Ā
Dolphin, an investor in high-end residential resort developments in the eastern Mediterranean, notes that the Cyprus government announced on 13 October that it would cancel the Cyprus citizenship investment programme with effect from 1 November. The programme allowed foreign investors to apply for Cypriot citizenship upon making a minimum ā¬2 million investment in, inter alia, Cyprus properties.
Ā
The Company also notes that the Cyprus authorities have indicated that they would explore the introduction in the near future of alternative investment incentives to replace the existing citizenship programme.
Ā
The Cyprus Permanent Residence programme which offers permanent residence status to foreign individuals with a minimum ā¬0.3 million property investment in Cyprus remains in place.
Ā
The Company is monitoring these developments in close cooperation with the management team at Aristo Developers Ltd ("Aristo"), the Company's 47.9% associate and one of the largest Cyprus property developers. Aristo is likely to remain affected by the COVID-19 pandemic, exacerbated by the expected impact in the short term of the existing citizenship investment programme cancellation. Additional updates will be provided as appropriate.
Ā
Ā
Ā
Ā For further information, please contact:
Ā Dolphin Capital Investors Andrew M Coppel, CBE | Ā Ā +44 (0) 7785 577023 |
Ā Dolphin Capital Partners Miltos E Kambourides | Ā Ā miltos@dolphincp.com |
Ā Panmure Gordon (Broker) Dominic Morley | Ā Ā +44 (0) 20 7886 2500 |
Ā Grant Thornton UK LLP (Nominated Adviser) Philip Secrett | Ā Ā +44 (0) 20 7383 5100 |
Ā Instinctif (PR Communications Adviser) Mark Garraway | Ā Ā +44 (0) 20 7457 2007 |
Ā
Ā
Follow the stocks
