Cyprus Citizenship by Investment EU Citizenship

The Cyprus Government, as a part of its policies aiming to attract foreign investors in Cyprus, established new financial criteria based on which non–Cypriot investors may acquire the Cypriot citizenship.

Investment Options
a) Investment in real estate or land developing;
b) Purchase, incorporation or participation in Cypriot businesses;
c) Investment in alternative investment funds;
d) Combination of the first three options.

Main Benefits of Cypriot Citizenship
• The investment is as low as €2,000,000.
• The investor must retain the investment for just 3 years after which s/he is free to realize it.
• Citizenship is granted to the spouse of the investor and minor children, as well as to the financially dependent adult children up to the age of 28, as well as to the parents of the investor, subject only to acquiring residential property of at least €500,000 + VAT.
• There is no requirement to reside in Cyprus.
• There is no language requirement.
• Visa-free travel to over 150 countries worldwide.
• Access to all the rights of an EU citizen protected by EU legislation: freedom to work, study, reside in any EU member state, as well as Switzerland, Norway, Iceland and Liechtenstein.
• There are no language proficiency tests.
• Dual citizenship is permitted and the acquisition of citizenship in Cyprus is not reported to other countries.
• There are low government fees for the filing of the application.
• There is a wide choice of investment options, with no requirement to donate your wealth.

Investment Amount / Criteria
• The minimum investment requirement is €2,000,000 for any of the investment options.
• The investor must purchase one residential property of at least €500,000 + VAT.
• The investor is obliged to retain the investment for at least three years following the acquisition of the Cyprus citizenship, with the exception of the residential property of at least €500,000 + VAT, that should not be disposed of at any point in time, or if disposed, the investor should substitute with another property of equal or higher purchase price.
• The purchase value of the privately-owned residence of the applicant investor in Cyprus is not included in the minimum investment which is required for the submission of the application, but rather it is additional. However, if an applicant decides to invest in real estate solely, he/she is not obliged to buy a further privately owned residence of purchase value €500,000 + VAT.

Application Criteria
• Applicants must hold a clean criminal record from the country of origin
• The investor must maintain permanently a residential property in Cyprus of minimum value of €500,000 + VAT.
• Applicants are required to be holders of a Cyprus residence permit to qualify for receiving Cyprus citizenship and will therefore need to submit their residence application prior to the filing of their citizenship application.
• No requirement to be physically present in Cyprus.
• The applicant must submit proof of payment of the entire investment amount in order for the application to be processed.

Who is Eligible
• Any investor who is 18 years old and above.
• The spouse of the investor and minor children, as well as financially dependent children up to the age of 28.
• Parents of the investor, subject only to acquiring residential property of at least €500,000 + VAT

Processing Time: 6 months -/+

 

News
02-Jun-2017