CITIZENSHIP GUIDLINES

REVISION dated February 22, 2016 Click on link below

CRITERIA FOR GRANTING AN IMMIGRATION PERMIT

 Granting of citizenship to investors in Cyprus

Participating in the programme investor with his family obtain Cyprus passports. This is not a residence permit or a visa but rather full citizenship of the EU-member state.

The programme requires the amount of €2mln to be invested in Cyprus for 3 years. The citizenship is granted within just 3 months! 

The programme has already attracted over 3 billion euros of direct investments into the economy of the Republic of Cyprus.


Advantages of the programme

The programme is unique in Europe and very appealing:

  • Cyprus passport is a full EU passport. Investor and his family can freely reside, work, study, have business in any of the EU-member states as well as in Switzerland, Liechtenstein, Norway and Iceland
  • Holder of Cyprus passport can travel visa-free in 157 countries in total
  • Dual-citizenship is permitted. Acquisition of Cyprus citizenship is not reported to other countries
  • The passport is issued also for the investor’s spouse and all financially dependent children (up to 28 years old). All next generations of investor retain EU citizenship
  • The investor’s parents are entitled to apply for citizenship provided that they are owners of a Cyprus permanent residence of at least €500.000
  • An express procedure - 3 months to be approved
  • No requirement to reside in Cyprus 
  • Minimum investment required is €2mln (here and below amounts are excluding VAT where VAT is applicable)
  • The investment must be kept just for 3 years. After that the assets can be sold. To be more precise, the Law states that a property of minimum value of €500.000 must be kept as a private residence (we expect that this condition will be removed; anyway this private residence can be rented out and generate rental income for investor)
  • No donation to the Cyprus government
  • No history and language proficiency tests

Investment options

An investor is free to choose where to invest from a wide choice of options:

  • Residential properties
  • Commercial properties
  • Development projects
  • Purchase or creation or participation in Cypriot businesses or companies
  • Investment funds, financial assets of Cypriot businesses or organizations
  • Government bonds (maximum €500.000; the balance €1,5mln should be invested in other options like property)
  • Combination of the above options 

 

Granting of citizenship to investors in Cyprus

On May 24, 2013 the Cyprus Government approved a new program for obtaining citizenship of the Republic of Cyprus on exclusive terms for investors.

No other country of the European Union offers economic citizenship as freely and without difficulty on such simple and clear conditions:

  • Passport of a Cyprus citizenis a full EU passport
  • Passport turnaround time - 3 months
  • An investor gets a passport of Cyprus for him/herself, a spouse and for all financially dependent children under the age of 28
  • No need tolive in Cyprus
  • It is not required to pass exams in history and the official language
  • The Republic of Cyprus enables one to have a second citizenship, i.e. when a person receives a passport of Cyprus nobody requires him/her to exit from the first citizenship
  • There is no mandatory condition for establishing a company in Cyprus and for employment of Cyprus nationals
  • The investor has a wide range of choice for investment. In particular:, placing

Minimum duration of investment - 3 years.

 

Required amount of investment - €5,0 million. However , if the investor submits an application for citizenship within a group of investors , the minimum amount of the investment is reduced to €2,5 million. Members of the group are united only by the simultaneity of applying for citizenship. They can make different investments. Investor can always join a forming group.

It should be added that the law requires mandatory acquisition investor's personal property worth at least €500,000 + VAT.

 

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GRANTING OF CITIZENSHIP

 

 

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