Cypriot Citizenship

Citizenship by Investment in Cyprus/Cyprus Citizenship for Investors/ Cyprus Citizenship through Investment in Real Estate

Cyprus is an eastern Mediterranean Island and the third largest in the Mediterranean. Located at the crossroads of three continents; Europe, Asia and Africa. One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.

On the 13 September 2016, The Cyprus Council of Ministers has approved the amendments to the Scheme for Naturalisaton of Investors in Cyprus by Exception. The said scheme is based on subsection in section 111A of the civil Registry Laws of 2002-2015. The new requirement is even more enticing as the minimum investments has been reduced from €2.500.000 to €2.000.000

Criteria and Conditions/Constraints

Financial Requirements

Immediate track approval procedure within approximately 3 months.

A €2 million plus VAT if applicable – Investment in a single Residence. The residence must be retained by the investors for a period of 3 years. After the 3 years the investor has the right to sell and buy at a minimum value of €500.000 plus VAT if applicable.

A selection of residential properties out of which one property is to be used privately owned with a minimum value of €500.000 plus any applicable VAT. The remaining €1.5 million can be invested in various residential properties only and resold after 3 years.

Once the Investor’s obtains a Cypriot citizenship, the parents may also apply for citizenship. They need to hold a permanent privately owned residence in the Republic of Cyprus with a minimum purchase price €500.000 plus any applicable VAT.

Both the Investor and his/her parents may conjointly buy a residence, provided the total of the home/property are minimum €1 Million plus any applicable VAT.

Prior to naturalization as a Cypriot Citizen the applicant must hold a residency permit or can obtain an immigration permit on the basis of Regulation 6 of the Aliens and Immigration Law, simultaneously along with the naturalization application.

Any property (ies) which were purchased the previous 3 years could also be included in the in the requested Investment amount.

There is no requirement before or after the application, as to the applicant residing as to physical residency in Cyprus before/after approval.Investment in real estate, land development and infrastructure projects
Purchase of Establishment or Participation in Cypriot Companies or Business
Investment in Alternative investment funds (AIF’S) or Financial Assets of Cypriot companies or Cypriot organizations that are licensed by CySec:
A Combination of the aforementioned Investments.

Benefits

Same rights as any European Citizen.
The whole family can obtain the Citizenship.
Cyprus allows multiple citizenship.
You can travel, live, work and study anywhere in the European Economic Area (European Union, Iceland, Liechtenstein and Switzerland).
Travel to 157+ countries without a visa.
Offers an effective tool for family and tax planning.
Offers an additional insurance against political instability.
Cyprus has zero inheritance, wealth, gift and immovable property taxes.
The investor is able to rent out his/her privately-owned residence.
Enables access to some of the highest education and healthcare institutions in the world.
Free movement of capital, services and goods.

The eligible investment is not limited to properties purchased for the first time.