The Cyprus Citizenship by Investment Program is ideal for business and investment purposes recognizing numerous investment opportunities for investors.

 

Cypriot citizenship can be granted in as little as six months following application. Successful applicants become EU citizens and are able to enjoy the benefits of visa-free access to 171 countries (including the European Union, UK, and Canada) and the right to live, work and study in any of the other EU countries.

 

Consisting of approximately two-thirds of the island of Cyprus in the eastern Mediterranean Sea, the Republic of Cyprus has been an independent nation since 1960 and a member of the EU since 2004. An important hub in the heart of the Mediterranean at the crossroads of Europe, Africa and Asia, Cyprus is diverse, culturally rich and perfectly placed for working and traveling within and beyond the European Union. The economy is booming through significant activity in the shipping, tourism, legal and financial services sectors, and has also seen a surge in foreign investments and developments, and property and investment values.

 

The island enjoys low tax rates and has a diversified economy in which tourism, financial services and shipping are major players. Its population of 1.17 million (2016 est.) enjoys a low cost, high standard of living. As a Mediterranean island, Cyprus has an attractive climate of warm, dry summers from April to November, with short, cooler winters. The average annual daytime temperature is 24°C.

 

LEGAL BASIS

 

Cyprus Citizenship by Investment is available to investors pursuant to the “Scheme for Naturalization of Investors in Cyprus by Exception” on the basis of Section 111A (2) of the Civil Registry Laws of 2002-2013, based on a Council of Ministers decision dated 19th March 2014. In virtue of this law, the Cyprus Council of Ministers may grant citizenship by naturalization to foreign entrepreneurs. Additionally, the Cyprus Citizenship by Investment law provides for the granting of the Cypriot citizenship by investment to the spouse as well as financially dependent adult children and parents of the investor. Amendments to the law carried out in September 2016 allow for the inclusion of parents in the same application, provided an additional investment in real estate is made.

 

COUNTRY FACTS

 

CAPITAL: TOTAL AREA: POPULATION: LANGUAGES:
Nicosia 9,251 Km2 1.2 M (2016) Greek, English

 

CURRENCY NEAREST COUNTRY: VISA FREE ACCESS TIME ZONE:
Euro Turkey 171 Countries UTC+02:00

 

 

KEY FACTS 

 

  • Visa-free travel to 171 nations
  • Applications processed within 180 days
  • No minimum residency requirement
  • Required investment from Euro 2,000,000

 

Advantages

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  • European Union (EU) citizenship
  • The applicant can live, travel, work and study anywhere in the EU
  • Spouse, and any dependent children up to 28 years old in full-time university education can be included
  • Dependent parents can be included
  • Citizenship can be passed onto future generations
  • All nationalities can apply for Cyprus citizenship by investment
  • Allows visa-free to travel to more 171 countries, including the European Union, UK, Canada, Hong Kong, Singapore, and New Zealand
  • Dual citizenship is allowed
  • High quality of life if you choose to reside in Cyprus as a predominantly English-speaking country, with good international schools and a legal system that is based on English Common Law
  • Reasonable cost of living
  • Free access to public education and healthcare system
  • Multicultural society
  • No tax on global income for Non-Residents
  • Low Personal and Corporate Tax Rates for Non-Domiciled Residents and generous tax breaks for HNWIs

 

Requirements

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  • No residency requirement
  • No language, education or upper age requirements
  • The applicant must have a clean criminal record
  • Must be at least 18 years old
  • The applicant must invest at least €2,000,000 in Cyprus real estate, to be held for a minimum of three years
  • After 3 years, the applicant must own residential property in Cyprus of a value at least €500,000
  • The residential property must be treated as a permanent residence and be retained to maintain citizenship

 

Investment Options

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  • An investment of at least €2 million in a single residential property used as a permanent residence; or
  • An investment of at least €2 in residential properties, including at least one property with a minimum value of €500,000 as a permanent residence; or
  • An investment of at least €2 in commercial or mixed properties, plus at least one property with a minimum value of €500,000 as a permanent residence.
  • Dependent parents must also hold one property with a minimum value of €500,000 as a permanent residence, or hold a share of a permanent residence with a minimum value of €500,000
  • The investment properties may be rented out to provide income for the investor

 

 

Process (between 5-7 months)

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  • The main applicant must visit Cyprus at least once in order to take an oath to obtain citizenship
  • Once the applicant has obtained citizenship, the dependent relatives (spouse, children up to 28 years old and dependent parents) can apply for citizenship
  • The investment properties may be sold after 3 years
  • To maintain citizenship, the applicant must;
  • keep the investment properties for a minimum period of 3 years
  • always retain a permanent residence with a minimum value of €500,000

*Please contact us for a free initial evaluation based on the number of applicants and their ages.

 

As your personal partner for Citizenship Planning we are pleased to provide you with comprehensive specialist advice.