Why Cyprus
Cyprus is considered one of the most popular vacation destinations in the region, attracting international travellers due to its convenient location and unique climate. There are many attractions from historical monuments, churches and castles to touristic beaches, bars and amusement parks.
Official language is Modern Greek
Warm and friendly Cypriot hospitality
Low Crime rate
330 days of Sunshine
Highly developed infrastructure
Sandy beaches
Mountain and forest scenery
Excellent Educational system
Advanced telecommunication network
Excellent Medical healthcare
Mediterranean Cuisine and Lifestyle
Cyprus Investment Programme
Non-Cypriot Citizens can enjoy the benefits of being citizens of the European Union by applying for the acquisition of Cypriot Citizenship by meeting the certain criteria and fulfilment of the terms and conditions outlined by the programme.
With a plethora of investment options on offer, from the smaller residential properties to luxury villas and also prime commercial property, Cyprus is genuinely one of the best locations to invest in. To qualify for the program you can either invest in residential real estate or a combination of real estate and/or other investment instruments.
After 5 years both options allow reduction of investment to €500,000 indefinitely held residential property.
Investment in real estate starts from €2,000,000 with the option of purchasing one or several properties to make up the required real estate investment value. Investing in Cyprus has never been so attractive, not only bringing you a high quality property investment, but also a much coveted European passport.
Either option involves a non-refundable government donation of €150,000. Half of the donation- €75,000 - goes to the Research and Innovation Foundation of Cyprus and €75,000 to the Cyprus Land Development Corporation
Investment options
Investment in real estate, land development and infrastructure projects
The applicant should make an investment of at least €2 million for the purchase of properties, or for the purchase or construction of buildings, or for the construction of other land development or infrastructure projects.
If the investor buys property which was previously used for the purpose of the Cyprus Investment plan, the total amount must be at least €2.5 million.
If the applicant decides to purchase residential properties, he/she must have invested at least €2 million in one or more properties, provided that the value of one of the properties is at least €500,000 (excluding VAT), which must be kept as the permanent residence of the investor in Cyprus.
Purchase or establishment or participation in Cypriot companies or businesses
The applicant must make an investment of at least EUR 2 million in the purchase of, creation of, 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
Investments in the shipping sector are considered to be eligible.
Investment in Alternative Investment Funds or Registered Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organisations that are licensed by CySec
The applicant should purchase units amounting to at least EUR 2 million from alternative investment funds. 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
Combination of the aforementioned investments
The applicant may proceed with a combination of the above investments, provided that the total investment will amount up to at least €2 million.
Eligibility Criteria
- A minimum investment of €2 million.
- Keep investment for a minimum period of five years.
- Clean criminal record.
- Applicant must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000 (excluding VAT).
- The applicant, prior to his/her naturalization as a Cypriot citizen, must hold a residence permit in Cyprus (no requirement to live in Cyprus).
- Applicants must be holders of a valid Schengen Visa prior to submitting a citizenship application.
- Applicants whose citizenship application has been rejected by another EU member state, will not have the right to apply.
- In cases in which the property is under development, the architect of the project must submit a ‘Completion Certificate’ and 5% of the cost of the project must be maintained in a special bank account or secured through a Performance Bank Guarantee from the seller.
- Declaration by the mortgage lender in the benefit of whom the purchased property is mortgaged/secured is required. This document undertakes to waive the mortgage, provided that the investor or the seller will pay the lender the amount stated in the relevant Declaration (Bank Waiver letter).
Benefits
- Citizenship - Passport granted in 180 days
- Visa - free travel to more than 150 countries
- Entire family are eligible - Including spouse, children, adult dependants up to 28 years old as well as parents of the main applicant
- Member of the EU - Enjoy EU Freedoms to live, work, study or travel anywhere in the EU
- Dual citizenship - Cyprus allows for dual citizenship
- Attractive tax regime - Zero taxes for non domiciled individuals. No dividend tax and no inheritance tax
- Tax resident - The investor does not become a tax resident, unless more than 183 days in a calendar year are spent in Cyprus.
- Resident - Not necessary to reside in Cyprus before or after the obtainment of citizenship
- Valid for life - Transferable to descendants
- Education matters - Provide your children with access to top-rated universities with lower EU tuition fees
The applicant may proceed with a combination of the above investments, provided that the total investment will amount up to at least €2 million.
For more information on the Cyprus Investment Programme, read through the following information as provided by the Ministry of Interior.
To find out more about the Cyprus Investment Programme or to receive a property proposal based on your investment preferences, contact us.
Frequently Asked Questions
With a simple scroll through our site, when you find a property you are interested in, make a note of the code number and contact us. Our professional team of experts can guide you in finding the best suitable property for your needs, following a process which is effective and transparent.
1. How long does the process take?
The Cypriot Citizenship by Investment program currently offers the quickest route to citizenship within the EU from application submission in only 180 days.
2. I already have a residential property in Cyprus. Can it go to offset when calculating the total investment?
Yes, it can, If the property was purchased not later than three years before applying for the EU Citizenship.
3. Does the Cypriot Citizenship allow me to work or study in the EU?
Cyprus citizenship grants applicants and their families the freedom to live, work or study in any of the 28 European member states with unrestricted visa-free access to over 150 countries worldwide.
The Cypriot Citizenship gives you the right of free movement, freedom to work and study, and security within the social and legal system of the EU and other European Economic Area (Switzerland, Norway, Iceland, Liechtenstein, etc.).
4. Can I rent my lifetime residential property?
There is no obstacle in renting out any of the properties.
5. Can I sell the lifetime residential property?
Yes, provided that you have purchased a different lifetime residential property of equal or higher purchase value. Other conditions may apply here as well.
6. Who is considered financially dependent adult child?
Any individual between the age of 18-28 is considered as financially dependent. Studying to obtain a diploma or an undergraduate or a master’s degree. The programme excludes children who are studying for the acquisition of a professional qualification such as chartered accountants or barrister. Additionally, a child with severe physical or mental disability unable to work, is considered financially dependent regardless of the age.
7. Will the Cyprus citizenship programme automatically grant me European citizenship?
Yes, Cyprus is a member of the European Union. It is the only direct EU citizenship program offering such a simple and efficient way of obtaining dual citizenship without any residency requirements.
8. Do I have to donate to obtain the citizenship?
Yes, a non-refundable government donation of €150,000. Half of the donation- €75,000 - goes to the Research and Innovation Foundation of Cyprus and €75,000 to the Cyprus Land Development Corporation
9. Can I invest in a resale property or a new property?
Yes, you can invest in both resale and new properties, however, if the applicant has invested in housing units that have already being used for the purpose of acquiring the Cypriot citizenship via the program, the above provision will be in force provided that the total amount of the invest
Investors may significantly reduce their property investment amount to €500,000 after 5 years from the citizenship being granted.
10. What is the cost for applying for Cypriot Citizenship?
| APPLICANT | APPLICATION SUBMISSION FEE | CERTIFICATE ISSUANCE FEE | TOTAL |
|---|---|---|---|
| INVESTOR | €2.000 | €5.000 | €7.000 |
| INVESTOR’S SPOUSE | €2.000 | €5.000 | €7.000 |
| INVESTOR’S ADULT CHILD | €2.000 | €5.000 | €7.000 |
| INVESTOR’S MINOR CHILD | €80 | - | €80 |