An important hub in the heart of the Mediterranean at the crossroads of Europe, Africa and Asia, Cyprus is diverse, culturally rich and perfectly placed for working and traveling within and beyond the European Union. The economy is rapidly recovering from a recent recession through significant activity in the shipping, tourism, legal and financial services sectors, and has also seen a surge in foreign investments and developments, and property and investment values.
WHY CHOOSE CYPRUS?
Cyprus boasts a rich and diverse culture, mild Mediterranean climate, and a safe and stable setting ideal for raising families. Investors also look at Cyprus for business and investment purposes, recognizing numerous investment opportunities. The benefits of the Cyprus program are plenty:
- Approval of citizenship application within approximately six months;
- Simultaneous submission of residency and citizenship applications.
- No language requirements.
- Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
- Civil unions eligible to submit 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, Middle East and North Africa with direct access to the Mediterranean Sea.
- Safest country in the world with a population under 5 million.
- Excellent education system as well as first-rate health care.
- An outstanding holiday destination.
QUALIFICATIONS
Offered in accordance to subsection (2) of section 111A of the Civil Registry Laws 2002-2019, the Cyprus Investment Program is one of the fastest to lead to residence and citizenship in Europe.
To qualify for citizenship, applicants must fulfill one of the investment options below and hold it for five years in addition to meeting the following criteria:
- Possess a valid passport.
- Hold no criminal record.
- Holds a valid Schengen Visa
- Has no rejection from any other member-state of the EU.
- The main applicant’s property is not frozen within the boundaries of the EU.
- Possess a residency permit in the Republic of Cyprus, for a period of six months before being granted citizenship.
- Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT.
- In the case that one chooses to invest in residential properties only and one of the residential properties is priced at at least €500,000, then the total investment amount must be €2 million.
INVESTMENT OPTIONS
1. Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation
(a) The applicant may donate at least €75,000 to the Research and Innovation Foundation.
(b) The applicant may donate at least €75,000 to the Cyprus Land Development Corporation for the financing of housing schemes for affordable housing, but also for the materialization of other housing schemes/measures.
2. Investment in Real Estate, Land Development, and Infrastructure Projects
Applicants may invest at least €2,0 million for the purchase or construction of buildings or for the construction of other land development projects including residential or commercial developments, developments in the tourism sector, or other infrastructure projects.
3. Purchase or Establishment or Participation in Cypriot Companies or Businesses
Applicants may invest at least €2,0 million for the purchase or participation in companies or organizations established and operating in the Republic of Cyprus. Proof of physical presence in Cyprus is required, with employment of at least 5 (five) Cypriot citizens, or citizens of any EU member state.
4. Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Organizations
Applicants may invest in units of at least €2,0 million in Alternative Investment Funds or Registered Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by Cyprus Securities and Exchange Commission. It is permitted for these AIFs or RAIFs to invest in secondary market stock-market values of the Cyprus Stock Exchange an amount that does not exceed the €200,000.
5. Combination Investment
Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.
