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Cyprus Citizenship

THE FASTEST AND EASIEST WAY TO GET CITIZENSHIP

CYPRUS PERMANENT CITIZENSHIP :

Citizenship-by-Investment in Cyprus
The Cypriot Government has established a number of incentives to attract foreign direct investment into the country. One of these is a citizenship-by-investment program that grants full Cypriot citizenship to those that invest more than EUR 2 million in real estate and who meet certain other requirements. Successful applicants gain the right to live, work and study in all 28 EU member countries.

In September 2016 , the Government of Cyprus introduced changes to its citizenship-by-investment program. The changes include the reduction of the minimum investment amount to EUR 2 million (from EUR 2,5 million) and the possibility to include the parents of the main applicant provided that an additional EUR 500,000 + VAT will be invested in the purchase of a private residence in Cyprus.

Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception if they meet one of the investment criteria presented below. The qualification may either be done personally or through a company/companies in which the applicant acts as a shareholder or even as a high-ranking senior manager.

1.Investment in real estate, developments and infrastructure projects
The applicant should make an investment of at least EUR 2 million for the purchase or construction of real estate
2.Purchase, establishment, or participation in Cypriot businesses and companies 
The applicant must make an investment of at least EUR 2 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot citizens
3.Investment in Alternative Investment Funds or financial assets of Cypriot enterprises or Cypriot organizations licensed by the Securities and Exchange Commission
The applicant should purchase units amounting to at least EUR 2 million from Alternative Investment Funds (AIF)
This criterion also covers the purchase of financial assets of Cypriot businesses or organizations for at least EUR 2 million, in the form of bonds, securities and debt securities
4.Combination of the above investments
The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million
The applicant’s investment combination may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000
 

Cyprus: Cyprus Investment Program – Amendments 13/02/2019

Civil Registry Laws of 2002-2015

The Council of Ministers of Cyprus have approved the below amendments on the Cyprus Investment Program:

Α. CRITERIA

Α.1 Economic Criteria:
  1. Donation of the amount of €75.000= to the Research and Innovation Foundation of Cyprus. Alternatively, this donation is not applicable when:
- investment is made in a Certified Innovative Business or Certified Social Company, or - investment of at least €400.000= is made in a company, which is operating in the Primary or Secondary sector of the economy or in the sector of research, technology, education, health and/or  renewable energy sources sector
  1. Donation of the amount of €75.000= to the Cyprus Land Development Corporation
Α.3 Purchase or creation or participation in Cypriot businesses or companies:
  1. Investment in the area of Shipping will be included under this criterion, subject to specific measurable criteria, which will be determined collectively by the Ministry of Finance and the Shipping Deputy Ministry.

Α.4 Investment in Alternative Investment Funds or Registered Alternative Investment Funds or in financial assets of Cypriot companies or organizations which are licensed by the Cyprus Securities and Exchange Commission :
  • The applicant must have proceeded with the acquisition of units of at least €2,0 million from Alternative Investment Funds (AIF) or from Registered Alternative Investment Funds (RAIF) which have been established in Cyprus and licensed and supervised by the Cyprus Securities and Exchange Commission ("CySEC"),  the investments of which are exclusively in Cyprus, in investments which fulfil the criteria of the present program, or in sectors which are approved by the Minister of Finance. The said AIF and RAIF will have the possibility to invest in stock markets of the secondary market of the Cyprus Stock Exchange up to the amount of €200.000=.
B. TERMS AND CONDITIONS
  1. The applicant must not be included in the list of people whose assets have been bounded (frozen) within the European Union under a Court Order
  2. Citizenship applications are not allowed for any applicant who has been rejected by any other country of the European Union for Citizenship.
  3. The applicant, as well as all the adult family members, must be holders of a Schengen Visa at the time of the submission of the Citizenship application
  • Applicants of those Nationalities for whom a visa is not required to enter the Member States of the European Union, as well as applicants who are EU-Nationals are excluded from this criterion
  1. When the applicant is purchasing property or properties from a previous investor (considered as resale properties), the investment amount is increased to €2.500.000=
  2. The investment must be kept for a period of 5 years (any change to the investment within the 5 years requires the prior approval of the Ministry of Finance)
  3. The applicant must be a holder of a Cyprus Permanent Residency Permit for a period of at least 6 months before the approval is granted
C. FURTHER DOCUMENTS REQUIRED
  1. A declaration from the applicant regarding any other Citizenship that he/she was granted by any other EU Member State
  2. Planning permit for the investment property/properties
  3. Bank waiver letter by the Bank in favour of the applicant regarding the mortgage(s) encumbering the property/ies
  4. Completion certificate by the supervising architect of the property/ies OR for property/ies under construction:
a. Deposition of an amount equivalent to 5% on the total investment amount in a special bank account, OR
b. Granting of a Bank Guarantee of an amount equivalent to 5% on the total investment amount

ALL THE ABOVE AMENDMENTS,  EXCEPT THE CRITERIA AS PER   B1 AND C1, WILL BE IN FORCE FOR  ALL APPLICATIONS THAT WILL BE DEPOSITED AS FROM 15th OF MAY 2019  AND ONWARDS

WHY CYPRUS:

  • Cyprus has the Lowest Taxation from any European Union Country – Corporation Tax 12.5%, Dividend Tax 0%, Capital Gains Tax 0%, Inheritance Tax 0%
  • Cyprus has the lowest crime rate in Europe and is the 5th safest country in the world to live
  • There is a high standard of educational institutions and healthcare facilities
  • Cyprus is strategically located at the crossroads of three continents, Europe, Asia and Africa
  • PR have access to high-quality free education in Cyprus, including UK universities
  • High standard of healthcare facilities
  • Has been nominated as one of the best 20 countries to live in the world
  • EU member since 2004
  • Cyprus, the third largest island in the Mediterranean
  • As a financial services epi-center and an ever-increasing trade partner with Europe, Cyprus is continually developing an impressive commercial environment that attracts worldwide business ventures

ABOUT CYPRUS:

  • Official Name: Cyprus Republic
  • A Form of Government: Parliamentary republic
  • Capital: Nicosia
  • Population: 1,000.000
  • Official Language: Greek
  • Currency: Euro
  • Area: 9,250 square kilometer
  • Official Language: Greek
  • Education: Greek and British language
  • Education: British Education
  • Culture: Mixed culture (Greek, Turkish, Armenians and Latins)
  • Environment: Coastal
  • Health Care: High-quality health care (25th Worldwide)
  • Taxation: Lowest in the EU
  • Tourism: An International destination for tourists
  • Weather: Very nice Mediterranean weather
  • Politics: Politically stable
  • Schengen: No (Expected)
  • Religion: Christian with Muslim Community

QUALIFICATION CRITERIA:

  • Investment in real estate
  • Valid passport
  • 2 passport size photos
  • Criminal record
  • Birth certificate
  • Proof of investment
  • Marriage certificate (if applicable)
  • Bank statement
  • Source of funds
  • Opening Bank account
  • Professional Resume
  • Officially translated documents
  • Medical certificate
  • Certified copy of Business License or Incorporation documents
  • Employment contract (if applicable)
  • Applicants should be in possession of a Schengen visa
  • Applicants who have been previously rejected by another EU country will not be eligible to apply for the CIP
  • The investment should be maintained for 5 years

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