Cyprus is very famous of its rich and diverse culture, mild Mediterranean climate, and safe and stable setting which is ideal for raising families while enjoying a high end lifestyle. The country also is an excellent option for business and investment purposes recognized and respected all around the world.
At the moment, the Cyprus Government offers several business and tax incentives which are also attractive to many people and businesses from all over the world.
Why Invest for Citizenship in Cyprus?
- Fast-track procedure allowing for direct path to citizenship within 3-4 months;
- No physical residence requirements during or after the application procedure (the only requirement is for one visit every 7 years);
- No language requirements for residence or citizenship;
- Dependent children under 28 years qualify for citizenship on the basis of their parents’ applications;
- No obligation to relinquish current nationality;
- Low tax rates and free trade within the EU;
- Unrestricted right to live, work and study in Europe;
- Right to own property in an EU member state;
- Strategic geographical location, forming a bridge between the EU, the Middle East, and North Africa with direct access to the Mediterranean Sea;
- Low crime rate, excellent education system with a number of high standard schools and universities and first-rate healthcare;
- An outstanding holiday destination.
Offered in accordance with the Civil Registry Laws 2002-2013, the Naturalization of Investors by Exception Scheme, the program is one of the fastest to lead to residence and citizenship in Europe. To qualify for application, you will need to meet one of the requirements outlined in the “Investment Options” section.
In addition to making a financial investment, applicants must also meet the following requirements:
- Must have a valid passport;
- Provide documents supporting the source and origin of the declared funds for investment;
- Provide proof that the applicant has no criminal record;
- The applicant’s name must not be included in the list of persons whose property is ordered to be frozen within the boundaries of the EU;
- Payment of application fees.
According to Regulations issued by virtue of the Civil Registry Laws, foreign investors who wish to obtain Cypriot citizenship by investment need to meet the following requirements:
- Must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000 plus applicable VAT;
- Must choose one of the prescribed investment options as an individual (€5 million), or as part of a group (€2.5 million) and maintain it for the required duration.
1. Government bonds
Applicants must make an investment of at least €5 million in Cypriot government bonds. Investors need to maintain the purchased bonds for a period of three years.
2. Financial assets of Cypriot companies or organizations
Applicants must make an investment of at least €5 million in qualified financial assets (bonds, securities, debentures, etc.) registered and issued in the Republic of Cyprus of Cypriot companies or organizations. Investors need to maintain the purchased assets for a period of three years.
3. Real estate, land development and infrastructure projects
Applicants must make an investment of at least €5 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.
4. Purchase, creation, or participation in Cypriot businesses or companies
Applicants must make an investment of at least €5 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should evidently have a tangible presence in Cyprus and employ at least five Cypriot citizens. It is noted that the mandatory conversion of deposits into shares is included in this criterion.
5. Deposit in a Cypriot bank
Applicants choosing this option must have a fixed term deposit of at least €5 million for three years in a Cypriot bank.
6. Mixed investments
Applicants must make an investment of at least €5 million in a combination of the aforementioned options 1-5.
7. Persons whose deposits with the Bank of Cyprus or Popular Bank have been impaired after March 15, 2013
The applicant has incurred an impairment in deposits amounting to a total of at least €3 million. In the case where the applicant has incurred an impairment in his/her deposits under €3 million he/she may apply, having made an additional investment through options 1-5 for the balance of the required amount.
8. Collective investments
The Council of Ministers shall have the right on special occasions, to reduce the investment requirement to €2.5 million for investors, who demonstrably participate in a special collective investment scheme, provided that the combined total value of the investment is at least €12,5 million.
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