Cyprus Citizenship by Investment Programs

Cyprus Citizenship by Investment

Non-Cypriot citizens and their families may gain citizenship in Cyprus through a program called the ‘Cyprus Investment Programme’. Applicants must first purchase Cypriot real estate, which is declared as their permanent residence. They must then make an investment in the Cypriot economy, such as an investment in Government bonds. Finally, before obtaining their passport, they must visit Cyprus to provide their biometrics.

Attracting foreign direct investment is at the heart of Cyprus’ development strategy, as it represents a key driver for economic growth.

About Cyprus

Cyprus is a modern, cosmopolitan, transparent business centre offering opportunities for investment across a wide range of sectors. Located at the crossroads of Europe, Africa and Asia, Cyprus is at the heart of the busy shipping and air routes linking these three continents.

Cyprus has a pleasant Mediterranean climate, enjoying year-round sunshine, with mild winters and sunny, dry summers. A full member of the European Union and the European Monetary Union, Cyprus is driven by its rich culture, civilization and history, as well as its unwavering commitment to the values of democracy, freedom and justice.

With its advanced technical infrastructure and skilled human talent, Cyprus has become a regional quality business and financial centre, as well as a major communications and transport centre, and is also fast developing into an energy hub in the Eastern Mediterranean.

Cyprus is the destination of choice for hundreds of thousands of tourists every year, all seduced by the island’s ancient riches and spectacular coastline.

Benefits of Cypriot Citizenship

• Citizenship is a European Union country.

• Approval of citizenship application within 4 – 6 months.

• Inclusion of children up to 28 years of age if they are financially dependent on the main applicant.

• No language requirement.

• No interview requirement.

• No physical presence or residency requirement, except that applicants must travel to Cyprus at least once.

• Cypriot passport-holders enjoy Visa-free travel to 173 countries, making it one of the strongest passports in the world.

• Parents may qualify for citizenship by making their own investment of a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.

• Civil unions eligible to submit applications.

• Cyprus recognizes dual citizenship and does not require people to renounce their current citizenship.

• Low tax rates and free trade within the EU.

• Unrestricted right to live, work and study in Europe.

• Safest country in the world with a population under 5 million.

• Excellent education system as well as first-rate health care.

Qualifications for Cypriot Citizenship

To qualify under the Cyprus Citizenship by Investment Program, the following criteria must be met:

• The principal applicant must be at least 18 years old.

• To qualify as dependents, children must be unmarried and under age 18, or under age 28 if they are financially dependent on the main applicant.

• Applicants must pass a Due Diligence examination and have no criminal record.

• Applicants must make a qualifying investment in Cyprus, as detailed below.

Investment Options

1. Investment in Real Estate, Developments and Infrastructure projects
   • This option requires a minimum total investment amount of € 2 million for the purchase and construction of real estate.
   • The total investment amount must include a permanent personal residence valued at no less than € 500,000. The remaining investment amount of € 1.5 million must be made in residential real estate, to be held for a minimum of three years.
   • If the personal residence is valued at € 2 million or more, then no additional investment is required.
2. Purchase, Creation or Participation in Cypriot Businesses or Companies
   • Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.
3. Investment in Financial Assets of Cypriot Companies or Organizations
   • Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three years.
4. Combination Investment
   • Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.