Cyprus Citizenship by Investment Program

Cyprus is an island with an eventful history and a rich culture. Geographically, it is located between Africa, Europe, and Asia continents and thus it is a major trading post in the East Mediterranean zone. Even though the island boasts of having a low cost of living, it is ranked at No. 23 in the world in terms of quality of life.

In addition to making an investment, the applicant must:

  • have a valid passport
  • provide proof of source and origin of the declared funds for investment
  • have no criminal history
  • not be on the list of persons whose property is ordered to be frozen within the boundaries of the EU

Investor Options
1. Direct Investment
Applicant must make a direct investment of at least €5 million in the purchase of one of the below:

  • Property
  • Businesses or companies
  • Financial assets
  • Maintain ownership of assets for a period of 3 years

2. Bank Deposit
Have a fixed term deposit of at least €5 million for at least 3 years in a bank in Cyprus

3. Collective Investment programs of at least €2.5 million each i.e. the applicant must hold a permanent privately-owned residence in Cyprus, with the purchase price being at least €500,000 plus applicable VAT and should choose one of the prescribed investment options and maintain it for the required duration.

Benefits Of The Program

  • Fast-track procedure allowing for European Citizenship in 3 months.
  • As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally.
  • The Cypriot passport allows for visa free travel to 159 countries worldwide including the EU, UK and Canada.
  • Freedom to study in schools or universities across the EU for free or at discounted rates exclusive for EU nationals.
  • Unrestricted right to live and work in Europe with access to state of the art healthcare.
  • One of the lowest taxation rates in Europe with no foreign income tax, inheritance tax and withholding tax on interest earned.
  • Trade freely across all 28 EU countries and a market of over 500 million people.
  • The program is open to all nationalities.
  • No language test requirements.
  • Dual citizenship permitted allowing you to keep your existing nationality.
  • Dependent children under 28 years qualify for citizenship on the basis of their parents’ applications provided they are in consecutive levels of education e.g. Bachelors, Masters, PhD or with severe physical or mental disabilities.
  • Citizenship can be passed to future generations by descent
  • Cyprus Residence Permit is issued within 5 days from the submission of a joint application for residency and citizenship by investment.

Qualifications

  • The applicant must hold a valid passport
  • Applicants must not hold criminal record
  • The applicant must be non EU National
  • The applicant must be over 18
  • The applicant must make the appropriate investment
  • The applicant must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000, plus (VAT)
  • Chosen investments must be retained at least three years after gaining the Cypriot nationality
  • The applicant should have made the necessary investments within the three years preceding the date of the submission of the Citizenship application
  • The applicant must provide proofs supporting the source and origin of the declared funds for the investment
  • The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus. If not, the simultaneous application for both residency and citizenship for non-residents
  • Main applicant’s parents can be included, provided an additional investment of minimum €500,000 be made in residential property.

Investment Options
The applicant must own a permanent residence in Cyprus with a minimum value of € 500,000 (excluding VAT) in addition to the one of the following investment schemes with maintaining it for the required duration of 3 years.

1) Investment in Real Estate, Land Development and Infrastructure projects: The applicant must invest at least €2 million for the purchase or construction of immovable property or development creation such as residential or commercial developments, developments in the tourism sector or other infrastructure projects In cases where the applicant invests at least €2 million in one or more residential properties then the applicant is not required to further purchase another residence

2) Investment in Financial Assets of Cypriot Companies or Cypriot Organizations:
The applicant must invest €2 million in order to purchase, create or participate in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a physical presence in Cyprus, substantial activity and a significant turnover and must also employ at least 5 Cypriot citizens or European Union citizens who during the five years preceding the filing of the application were residing in the Republic of Cyprus;

3) Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Cypriot Organizations that are licensed by CYSEC:
The applicant must invest at least €2 million in Alternative Investment Funds established in Cyprus, licensed and supervised by the Cyprus Securities and Exchange Commission and exclusively making their investments in the Republic of Cyprus.

4) Combination of the aforementioned investments:
The applicant may proceed with a combination of the above, provided that the total investment will amount to a minimum of €2 million
Within this criterion, the applicant may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000.

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