Cyprus Citizenship By Investment

Cyprus Investment Programme GO TO TOP

About Cyprus

Cyprus is situated in the north-eastern basin of the Mediterranean Sea at the crossroads of three continents: Europe, Asia and Africa. Cyprus is the third largest island in the Mediterranean and has an estimated population 830.000. Greek Cypriots form by far the largest ethnic group, accounting for almost 80 percent of the population. Turkish Cypriots, British, Russians, Armenians, Maronites and other ethnic groups make up the remaining 20 percent.
 
Cyprus became an independent sovereign republic in 1960 with a presidential system of government. In 2004, Cyprus became a member of the European Union. Cyprus has set-up a tax system which is ideally suited both to inbound and outbound EU investors. It resulted in aligning Cyprus with EU directives, abolished all distinctions between international business (formerly "offshore") and local companies as from 1 January 2003 whilst maintaining a favourable tax regime for the international investor.

Cyprus is known for its beautiful Mediterranean beaches and is home to many historical monuments, included in UNESCO's World Heritage List. Cyprus ranked 58 out of 144 countries in the World Economic Forum Global Competitiveness Index of 2014-2015. Many new measures have been implemented to reboot the country's economy and to secure a better quality of life for residents.


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The Programme GO TO TOP

Cyprus Investment Programme

The Cyprus Investment Programme is established on the basis of Section 111A (2) of the Civil Registry Laws of 2002-2015, based on a Council of Ministers decision dated 19th March 2014. 

The Cyprus government has formulated a programme scheme aimed at high net worth individuals, allowing the successful applicants and their family to apply for naturalization. 

The investment amount is now reduced to €2mn.


Investment Options GO TO TOP

The following investment options are available to foreign investors

The applicant should have direct investments in Cyprus amounting to a minimum of €2 million, held for at least three 5 years, in any of the following: 
 
  • investment in real estate, land development and infrastructure projects
  • purchase, creation or participation in Cyprus businesses and companies based and operating  in Cyprus - investment in the shipping sector is also eligible on the basis of specific measurable criteria.  Such companies are required to have a physical presence in Cyprus and to employ at least 5 Cypriot citizens.
  • investment in Alternative Investment Funds (“AIFs”) established in Cyprus and licensed by CySEC and Registered Alternative Investment Funds which invest exclusively in Cyprus. The applicant may also invest up to €200,000 in Cyprus Stock Exchange’s secondary market This criterion includes financial assets of Cypriot companies or organizations issued after approval by CySEC
  • combination of the aforementioned criteria amounting to €2mn.
  • for an investment which involves the purchase of property under construction, a Town Planning Permit is required and the applicant should maintain an amount equal to 5% of the value in a designated account or equivalent bank guarantee from the seller of the property to the buyer

Mandatory Donations (relevant to applications submitted from the 15th of May 2019)
  • A mandatory donation of € 75,000 to the Foundation for Research and Innovation to promote the creation of an entrepreneurial innovation ecosystem.

    *Can be waived for investment in an innovative business or an investment under the criterion "Purchase or Establishment or Participation in Cypriot Companies or Businesses" amounting to at least 20% of the investment cost of the prerequisite amount
  • A mandatory donation of € 75,000 to the Cyprus Land Development Corporation, aiming at the contribution to the integrated housing policy.

Additional Requirements

In addition to the above investment and donation requirements, appliants should: 

  • hold a Schengen visa
  • hold a Clear Criminal Record from the country of origin or/and the Cyprus Police
  • confirm that the applicant’s name is not included in the list of persons whose property is ordered to be frozen within the EU
  • own private residence in Cyprus, the cost of which must exceed the amount of €500.000 excluding VAT. If the direct investment is made in residential property, this requirement is not applicable
  • in case the investor’s parents are included in the application, either purchase an additional property of at least €500.000 or the investor and parents acquire one residential property of a total value covering the amount of €500.000 per each applicant
  • the applicant must be resident before being granted citizenship, thus a simultaneous application for both residency and citizenship must be filed
  • have at least one visit to Cyprus


Application Process GO TO TOP

Procedure for the Cyprus Citizenship Investment Programme application

We set-out below the steps of the process of applying for Cyprus Investment Programme: 
  1. Review and selection of qualifying investment 
  2. Investment minimum €2 million & purchase residence for personal use 
  3. Preparation and submission of applications: permanent residence, citizenship and supporting documents including due dilligence report (2 weeks) 
  4. Acquire approval from council or ministers 
  5. Issuance of citizenship certificate 
  6. Oath of allegiance, passport application, biometrics and passport issuance
The whole process is expected to take up to 6 months following the submission of the applications to the Government of the Republic of Cyprus.

For more information on Cyprus' citizenship by investment programme please contact us at cyprus@onecitizen.com


Benefits GO TO TOP

Benefits of Cyprus Investment Programme

  • Wide choice of investment options, starting at €2 million
  • The investor must retain the investment for 5 years after which she/he is free to release it
  • Citizenship granted to spouse of the investor and minor children as well as to the financially dependent adult children up to the age of 28 who are full time students
  • The applicant’s parents can apply for Cyprus citizenship, provided that they own a permanent residence worth at least €500.000.
  • Cyprus passport holders enjoy the benefit of visa-free travel to over 150 countries worldwide
  • No language proficiency tests
  • Low government fees for the filing of the application


Visa Free Travel GO TO TOP

Cyprus citizens enjoy visa-free or visa-on-arrival travel to over 160 countries including all EU countries, the Caribbean Islands, Hong Kong, Japan, Singapore UAE and more. It is advisable to contact the relevant Government authorities and agencies are contacted prior to travel arrangements made.
 


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