CYPRUS

Advantages

  • Citizenship for life, applicable for future generations
  • Dual citizenship is permitted
  • Dependents included:
    1. Spouse
    2. Children under 28
    3. Parents above 55
  • EU Member
  • Visa free/travel entry to more than 170 countries, including Canada, Hong Kong, Singapore, New Zealand
  • Free access to high quality public education and healthcare system
  • No language requirement
  • No education or management experience required
  • The investment properties may be rented out to provide an income for the investor and sold after a 5-year holding period

Investment Options

  1. Residential Properties
    • Purchasing investment of at least EUR 2,000,000 in a single residential property used as a permanent residence
    • An investment of at least EUR 2,000,000 in multiple residential properties
    • Where the residential units have been previously used for CIP, the minimum investment amount increases to EUR 2,500,000
  2. Residential & Commercial Properties
    • An investment of at least EUR 2,000,000 in commercial or mixed properties, plus at least one property with a minimum value of EUR 500,000 as a permanent residence; and

Requirements

  • The applicant must retain a residential property in Cyprus with a value of at least EUR 500,000 as a permanent residence
  • The applicant and adult dependent family members must hold a valid Schengen visa at the time of application submission
  • The applicant must hold Cypriot Permanent Residence status for 6 months prior to the grant of citizenship

Donation

  • Donation of EUR 75,000 to the Research and Innovation Foundation
  • Donation of EUR 75,000 to the Cyprus Land Development Corporation

Process

  • Applicant must travel to Cyprus to provide biometrics
  • Submit the completed application forms and required documents
  • Success applicants will receive a Naturalization Certificate from The Civil Registry and Migration Department of Cyprus affirming their Cypriot Citizenship.
  • Processing time: 12 months

FAQ

What is the CYPRUS Investment Programme?

The Cyprus Investment Programme (“CIP”) offers eligible individuals and their families the opportunity to obtain full legal citizenship and passports upon making a qualifying significant investment and donation in Cyprus.

The investment requirements are as follows:

  1. Donation to Cyprus
    1. EUR 75,000 donation to the Research and Innovation Foundation; and
    2. EUR 75,000 donation to the Cyprus Land Development Corporation
  2. Investment (choose 1 of the following options; investment amounts are exclusive of VAT)
    1. Real Estate
      1. EUR 2,000,000 for purchase or construction of real estate, held for a minimum of 5 years
      2. EUR 2,500,000 for purchase of real estate that has already been used under CIP, held for a minimum of 5 years
    2. Purchase and establishment of or participation in Cypriot businesses/companies
      1. EUR 2,000,000 for purchase or participation in a Cypriot business/company established and operating in Cyprus. Proof of presence required and employment of five (5) Cypriot nationals.
    3. Investment in alternative investment funds (AIF) or financial assets
      1. EUR 2,000,000 for purchase of AIF units or financial assets of Cypriot enterprises/organizations licensed by the Cyprus Securities and Exchange Commission
    4. Combination of investment options
      1. EUR 2,000,000 in a combination of the investment options

Conditions

  • Regardless of the investment option chosen, there must be a purchase and lifetime possession of a permanent residence property valued at least EUR 500,000+VAT
  • Clean criminal record
  • Hold valid Schengen visa
  • Cannot have been rejected from another CBI program, or name appear on list of persons with assets frozen in EU due to sanctions

Processing, due diligence, and government fees are additional, and excluded from the cited investment amounts above. Please use the most updated Cyprus fee table for a more comprehensive and customizable quote.

Who is eligible to apply for citizenship?

To qualify for citizenship, the primary applicant must be over 18 years old, of good character, without a criminal record, and make a contribution and investment in one of the qualifying investment options.

High-Risk persons are no longer permitted to submit an application under the CIP, and includes individuals who are:

  • Politically Exposed Persons (PEP) who (1) hold political positions or (2) have held a political position during the last 5 years
  • Subject to criminal investigation without being charged; currently in criminal proceedings and are defendants in a pending criminal case; and/or are being or have been sought by EUROPOL or INTERPOL
  • Sentenced to prison for serious offences and the set conviction does not appear on the criminal record
  • Affiliated with legal entities which have been restricted by the EU, sanctioned by non-EU countries, or sanctioned by the United Nations Security Council
Who qualifies as a Dependent on the application?
  • Spouse or partner of the main applicant
  • Dependent children of the main applicant or spouse up to 28 years old
    • Proof of full-time attendance at a recognized educational institution to obtain a diploma, undergraduate or a master’s degree required for children between 18-28 years old
    • Programs for professional qualifications are excluded (ex. chartered accountants, lawyers)
  • Dependent children at least 18 years old and physically and/or mentally challenged who are living with and fully supported by the main applicant
  • Parents of the main applicant
    • Must hold a permanent residence valued at least EUR 500,000+VAT or a joint investment with the main applicant in a permanent residence valued at least EUR 1,000,000+VAT
What are the benefits of citizenship in CYPRUS?

Cyprus’s passport allows visa-free travel to over 170 countries including the European Union, Canada, and Singapore. Live, work, study, and travel anywhere in the EU.

Dual citizenship is permitted. Citizenship is valid for a lifetime and can be passed to future generations by descent.

What is the usual processing time?

The processing time is approximately 12 months.

Do I need to travel or reside in CYPRUS as part of the citizenship application process?

Yes, the applicant is required to travel to Cyprus at least twice to (1) submit the CIP application and provide biometric data for the Residence Permit and (2) provide biometric data and receive the passport.

The applicant is not required to reside in Cyprus prior to obtaining citizenship.

DO I NEED TO SHOW THE SOURCE OF FUNDS FOR MY INVESTMENT?

Yes, applicants are required to show that they have enough funds to make the investment. The type of documents required will vary depending on the source of the investment funds.

The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Such information is subject to changes without notice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation. For an evaluation of your personal circumstances one of our legal team would be happy to assist.