The “Citizenship through Investments” Program in Cyprus

In 2014, the Government of Cyprus set up a program to obtain the citizenship of Cyprus through investments to attract foreign direct investment in the country's economy. The Cyprus passport gives the right to live, work and study in all 28 member countries of the European Union (EU).
Since November 1, 2016, the amount of investments for participation in the program has been reduced to 2 million euros.
Investment options
The citizenship program implies one of the investment options:
  1. At least 2 million euros in the purchase or construction of real estate.
  2. At least € 2 million in the purchase, creation or participation in businesses or companies that are actually located and operate in Cyprus. Enterprises or companies must have documents confirming their activity in Cyprus and have at least 5 Cypriot citizens in their staff.
  3. At least € 2 million in alternative investment funds or financial assets of Cypriot companies or organizations licensed by the securities and exchange Commission. This criterion also includes the purchase of financial assets of Cypriot companies or organizations in the amount of at least € 2 million in bonds, securities and debt securities.
  4. A combination of the above options. The total amount of investment must be not less than 2 million euros. The total investment of the applicant may include the purchase of special government bonds of Cyprus to 500 thousand euros.

ВAn important requirement in any of the investment options is the purchase and permanent possession of residential real estate, which will be considered the permanent residence of the applicant in Cyprus. The cost of the property must be at least 500 thousand euros (excluding VAT).

If the applicant chooses to invest only in residential real estate in the first of the above options, the value of the acquired property may be taken into account in the calculation of qualified investments in the amount of 2 million euros. That is, this option is the most affordable for obtaining a passport.

In all other cases, the investment is 2 million euros, plus you need to purchase one residential property worth at least 500 thousand euros.

Investments may be made in person or through a company in which the applicant is a shareholder or holds a management position.

Who can obtain Cyprus citizenship

Spouses and minor children may participate in the Cyprus citizenship programme. Also from November 1, 2016, the citizenship can be obtained by the parents of the main applicant, subject to additional investments in the amount of 500 thousand euros in any of the above options – you must additionally purchase this amount of one residential property in Cyprus.

The basic requirements for participation in the programme also include the absence of a conviction on criminal charges in the applicants ‘ curricula vitae.

There is also a special requirement for all adult participants of the program – stay in the resident status (possession of a residence permit) for 6 months before obtaining a passport. To do this, along with the application for citizenship, the investor must apply for a Cyprus resident card. The card is issued in 5 days, this does not require additional investment.

The entire procedure from filing to obtaining citizenship will take about 6 months from the date of application.

The stages of obtaining citizenship

  • The "Citizenship through Investments" Program in Cyprus

    The process of obtaining citizenship begins with the choice of investment property. Our company helps to find objects that meet the criteria of the investor, or offers selected options that have been tested for compliance with state standards.

  • The "Citizenship through Investments" Program in Cyprus

    Preparation of documents and applications for citizenship.

  • The "Citizenship through Investments" Program in Cyprus

    Application for prior approval for citizenship by the Ministry of interior and the Ministry of Finance of Cyprus.

  • The "Citizenship through Investments" Program in Cyprus

    Submission of documents for obtaining a resident card personally by the applicant, it is also necessary to pass biometric data. Receipt of Cyprus resident card (5 days after application).

  • The "Citizenship through Investments" Program in Cyprus

    Consideration of the application by the government and decision-making (3 months after the application for citizenship).

  • The "Citizenship through Investments" Program in Cyprus

    Registration of the certificate of the citizen of Cyprus (in 6 months after submission of documents).

Benefits of the program of obtaining citizenship of Cyprus by investment

  • Citizenship for the main applicant and family members included in the application.
  • Obtaining a passport of the European Union and citizenship of the Republic of Cyprus for investment from 2 million euros.
  • 6 months before obtaining citizenship.
  • The right to live, work and study without time limits in all 28 EU member States.
  • The right to social security in the European social and legal system.
  • Visa-free travel to 158 countries around the world.
  • There is no requirement for compulsory residence in Cyprus after obtaining citizenship.
  • No donations, all investments remain in the applicant’s assets and are repayable.
  • No obligation to renounce current citizenship.
  • Low tax rates for those wishing to become a tax resident of Cyprus.
  • Very safe country and a great place to stay.

 

For more information on how to obtain a residence permit and citizenship in Cyprus, please contact us.