Cyprus Investment Programs
Cyprus is an Eastern Mediterranean island country and the third largest and third most populous island in the Mediterranean. The boarded country of Cyprus are Israel, Syria, Lebanon, Egypt, Turkey, and Greece.
Citizenship By Investment
The Government carefully designed the Naturalisation by Exception scheme to allow third country nationals to obtain citizenship of this desirable European destination through flexibility of investment, structured for the investor who may invest in real estate, in financial assets of Cypriot companies or Cypriot organizations, in Alternative Investment Funds or a combination of the investment forms.
Investment of €2,0 million (excluding VAT).
In all cases the applicant must posses a permanent privately-owned residence in the Republic of Cyprus, the purchase of which must be at least €500,000 plus V.A.T.
The applicant should have concluded the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least three years after the date of the Naturalisation. The primary residence however could not be disposed of.
Citizenship is granted to the spouse of the investor and to the financially dependent adult children up to the age of 28 who are full time students. The parents of the main investor are able to apply for citizenship if they hold a permanent privately-owned residence in the Republic of
Cyprus, the purchase price of which must be at least €500,000, plus V.A.T
The Cyprus citizenship program offers the most simple and efficient means to obtaining European citizenship. All nationalities are eligible to apply and the requirements are minimal.
- All nationalities are eligible to apply
- €2,0 million Investment (excluding VAT)
- Fast-track procedure allowing for direct gaining of citizenship within three months
- No physical residence requirement before, during or after the approval of the citizenship application
- No language requirement
- No medical tests
- No interview
- Citizenship is granted to the spouse of the investor and to the financially dependent adult children up to the age of 28 who are full time students. The parents of the main investor are able to apply for citizenship if they hold a permanent privately-owned residence in the Republic of
Cyprus lifelong, the purchase price of which must be at least €500,000, plus V.A.T.
- The investment must be retained for a period of 3 years after which the investor is free to dispose of, however, the investor must hold a privately-owned residence in the Republic of Cyprus of at least €500,000 + VAT lifelong
- Citizenship is passed on by descent frequently offering a legacy to future generations of the investor and family.
Cyprus Citizenship - Benefits
- Full EU member, the right to live, work and travel in EU member countries, including UK.
- Strategic location enables easy access to Europe, Africa & Asia
- Excellent year –round climate
- No inheritance tax
- Cyprus 12,5% corporate income tax rate is one of the lowest in the EU
- Excellent healthcare system and advanced infrastructure
- Relatively low cost, high standard of living
- Cyprus allows dual citizenship
- Cyprus passport holders can quickly and cost effective obtain travel visa for USA for 10 years.
In order to qualify for permanent residency program in Cyprus, the applicant has to meet certain financial criteria:
- Purchase of residential property of minimum value of €300,000 plus VAT
- A cash deposit in a Cypriot bank account of minimum €30,000 pledged for at least 3 years
- Proof of minimum disposable annual income of €30,000 increased by €5,000 for every
- dependent children and €8,000 for every
- Pay at least €200,000 plus VAT of the purchase
price prior to the application.
Application fees and other expenses
approximately €500 - €700
Purchase of a residence through a company
- The company is registered in the name of the applicant and/or in the name of the applicant and spouse and they are the sole shareholders.
First time sale
- The purchase of the residence must be from a developer company to a purchaser for the first time (not resale)
Purchase of more than one unit
- An applicant can purchase up to two residential units (apartments or houses), or 1 residential unit and 1 shop with an area of up to 100 m2 or 1 residential unit and office with an area of up to 250 m2 to the total value of €300,000 plus VAT
- The properties may be independent from each other but both must be sold by the same company
- Clean Criminal Record from their country of residence
- The applicant and spouse must declare that they do not intent to be employed in any direct or indirect way in Cyprus.
- The applicant and the members of his family who were included in the applicant’s PR permit must visit Cyprus at least once every two years.
- All the necessary documents attached to the application of PR permit must be translated in Greek or in English and be duly certified.
- Health Insurance for the applicant and dependents
Period of examination of the application
- The ministry estimates that the period of the examination of the application shall not exceed a period of two months from the submission of a duly completed application form and supporting documentation