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Cyprus

Citizenship By Investment

    BECOME A GLOBAL CITIZEN





    Perfectly situated in the Eastern Mediterranean, Cyprus is a country with a rich heritage and a vibrant culture. Cyprus offers a Citizenship by Investment Program giving you lifetime citizenship in the EU.

    With its boasting capital of Nicosia, many successful firms operate their business in this rapidly growing metropolis. Surrounded by water, Limassol, Paphos and Ayia Napa offer beach-front properties that attract millions of tourists yearly.

    Cyprus is rich with history, offering its residents and visitors a life filled with culture, arts, great cuisine and more. With neighboring countries such as Egypt, Syria, Lebanon and Greece, Cyprus is strategically located for investors looking to find a home in a safe and stable country in Europe. 

    Cyprus Passport

    Through investment in real estate, investors and their families may obtain Cyprus citizenship by investment and Cyprus passport in 6 short months.
     
    In 2013, an announcement by the Ministry of Interior of the Republic of Cyprus was issued, stating that immigration permits (Citizenship and Permanent Residence) will be issued to third country nationals if they fulfill certain criteria and terms.

    Cyprus Passports gives you many benefits including visa free travel to more than 160 countries. Once you obtain your Cyprus Passport, you will be able to access established EU healthcare and Education systems. Furthermore, you can enjoy the favorable tax regime of Cyprus.

    It is worth mentioning that you can add your family members in your second passport application. You won’t need to denounce your current nationality in the process. Afterwards, you will be able to live and work freely in the EU.

    https://www.bluemina.com/wp-content/uploads/2020/02/Cyprus-map-and-flag-1-1.png
    CAPITAL

    CAPITAL

    Nicosia

    LANGUAGE

    LANGUAGE

    Greek

    TOTAL AREA

    TOTAL AREA

    9,251 km2

    POPULATION

    POPULATION

    1.18 million

    GOVERNMENT

    GOVERNMENT

    Unitary state, Presidential system, Constitutional republic

    CURRENCY

    CURRENCY

    Euro

    INVESTMENT SCHEME

    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 maintained over 5 years.

    There is a one-time government contribution of €200,000.
     
    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 €200,000 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.

    The applicant will need to continue the appropriate real estate investment. 
     
    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 or €2.5 million. Within this criterion,
    the applicant may include the purchase of special government bonds of the Republic of Cyprus of up to €500,000.
     
    *In case that the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of €500,000,
    part of this additional amount can be used for purposes of supplementing the total amount of
    the investment made on the basis of the criteria of Part A above.
     

    Benefits of Cyprus Citizenship


    • Cyprus passport obtained within 6 months.
    • Citizenship within the European Union (EU).
    • Dual Citizenship is permitted; there is no need to denounce other citizenship when obtaining Cyprus citizenship.
    • No physical residence requirements in Cyprus during or after the application procedure (the only requirement is one visit every 7 years).
    • Cyprus passports allow visa-free travel to over 160 countries around the world.
    • Cyprus citizens have the right to live and work anywhere within 28 countries of the EU.
    • Citizens have the right to attend schools and universities within any EU country at special tuition rates for EU nationals.
    • Access to well established EU healthcare systems.
    • Cyprus citizenship can be passed to future generations by descent.
    • Beneficial tax regime for Cyprus passport holders, no foreign income tax, no inheritance tax, no withholding tax on interest earned and lowest taxation rates in Europe for residents.
    • Cyprus Residence Permit is issued within 5 days from the submission of a joint application for residency and citizenship by investment.
    • Citizens of EU countries are well accepted and welcomed internationally.
    • Family members (spouses, unmarried children below the age of 28 and dependent parents of applicant or his/ her spouse) may obtain Cyprus citizenship.

    QUALIFICATIONS


    • The applicant must hold a valid passport.
    • The applicant must be in possession of a valid Schengen visa.
    • The applicant must not be refused by any Schengen visa.
    • Applicants must not hold a criminal record.
    • The applicant must be non-EU National.
    • The applicant must be over the age of 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, a simultaneous application for both residency and citizenship for non-residents will be made.
    • Children must be (i) under the age of 28 and unmarried; or (ii) full-time students aged 18-28 who are dependent on their parents and living with (and fully supported by the applicant) or (iii) children with severe physical or mental disabilities.
    • Main applicant's parents can be included, provided an additional investment of minimum €500,000 be made in residential property.

    LEGAL BASIS


    According to the decision of the Council of Ministers dated 19 March 2014, Scheme for Naturalization of investors in Cyprus by Exception on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013 had been approved. On the basis of the scheme, a non-Cypriot citizen who meets one of the investment schemes criteria (A), either personally or through a company, may apply for the acquisition of the Cypriot citizenship through naturalization by exception. On 13 September 2016, the Council of Ministers introduced a decision amending the criteria for acquiring the Cyprus Citizenship by Investment. The main amendments relate to the reduction of the minimum investment amount to €2 million and the inclusion of the investors’ parents, who can now apply for Cyprus Citizenship along with the investors’ minor and adult dependent children (up to the age of 28).

    VISA FREE TRAVEL


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    Timeline and Procedure

    The Cypriot passport can be obtained within 3 months.

    Month 1-2
    Step 1
    Selection of the appropriate investment option. File Preparation process beings. Collection of documents, office fees, government fees and initial deposit in Cyprus is due at this stage.
    Month 2-3
    Step 2
    Investment is made in the selected option and Citizenship File submission to Civil Registry and Migration Department.
    Month 3-4
    Step 3
    Issuance of “Approved in Principal Letter’’ by the Civil Registry and Migration Department .
    Step 4
    Naturalization Certificate is issued.
    Step 5
    Submission of passport application and issuance of passport.
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