Cyprus

Citizenship By Investment

Investment in real estate
€ 2 millions
Duration
6 months
Family
Security
Direct europian
Citizenship

Perfectly situated in the Eastern Mediterranean, Cyprus is a country with a rich heritage and a vibrant culture. 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. 
 
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 fulfil certain criteria and terms.
 

CAPITAL

Nicosia

LANGUAGE

Greek

TOTAL AREA

9,251 km2

POPULATION

1.18 million

GONVERMENT

Unitary state, Presidential system, Constitutional republic

CURRENCY

Euro

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 allows visa-free travel to 159 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 Malta citizenship

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).
Programme Regulations. 

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 any Schengen visa
  • 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, a simultaneous application for both residency and citizenship for non-residents will be made.
  • Children must be (i) under age 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
  •  
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Timeline and Procedure

Cyprus passport can be obtained in 6 months.

 
 
 

Month
1

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
1-2

Step 2

Investment is made in the selected option. Citizenship File submission to Civil Registry and Migration Department.

Month
4-8

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 Cyprus passport.