Obtain Cyprus Passport By Investment
How to get Cyprus Citizenship
Cyprus government has enacted a new investment program oriented for investors/entrepreneurs who’d like to invest in the Cyprus and as the result get Cyprus passport or citizenship. Investment Citizenship Program has been designed on a fast-track base with decreased time and bureaucracy in mind.
In 2016, the Council of Ministers has endorsed amended investment scheme for granting Cypriot citizenship that was created to entice oversea entrepreneurs/investors and offer Cyprus as their ground of economic activity, as well as residence.
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Cyprus’s Leading Immigration Real Estate Company
Our associated attorneys – a team of professionals working exclusively on Citizenship & Residence matters – have handled the largest number of applications submitted to the Cyprus government to-date.
The company has maintained a 100% success rate in residence and citizenship applications through an honest professional assessment of all applicants prior to filing. No investment needs to be made before the final approval is issued by the government. This ensures your investment will become due only if and when your application is approved!
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Three criteria to obtain Cyprus Citizenship
Investment in real estate, land development and infrastructure projects of at least €2m.
Investment in land under development is included in this criterion, provided that an investment plan for the development of the purchased land will be included in the application.
Investment in financial assets of Cypriot companies or organisations of at least €2m.
These companies or organizations should have proven physical presence in Cyprus, with significant activity and turnover and employ at least 5 Cypriot or citizens of European Union member-states.
The invested funds shall be channeled towards the financing of the investment objectives of these companies exclusively in Cyprus, based on a specific investment plan. The employees of the companies need to have legally and continuously resided in Cyprus during 5 years preceding the application submission date.
Investment in Alternative Investment Funds (AIFs) or financial assets of Cypriot companies/organisations of at least €2m.
AIFs, whose investments should be made exclusively in the Republic of Cyprus, should be established in the Republic of Cyprus and licensed and supervised by the Cyprus Securities and Exchange Commission (CySec). Investments should be kept for at least 3 years. It is noted that the purchase by an AIF of units of other AIFs is not considered eligible.
The purchase of financial assets of Cypriot companies or organizations (bonds, bills and securities) should be issued with the approval of the CySec, by companies that have proven physical presence and substantial economic activity in the Republic of Cyprus.
Frequently Asked Questions
1. Does the applicant need to also own residence in Cyprus?
2. Can the investor rent his privately-owned residence to someone else?
3. Must investors hold a residence permit in Cyprus prior to the naturalization?
Yes, investors must hold a residence permit in Cyprus. If not, application for a residence permit can be submitted simultaneously with the application for the naturalization, while the procedure for the acquisition of the Cypriot citizenship will be completed when the six-month period is completed. This provision also applies for the adult members of the investor’s family.
4. Do investors have to reside in Cyprus after acquiring the Cypriot citizenship?
No, there is no requirement of residing in Cyprus after acquiring citizenship.
5. How long do investments have to be kept for?
The applicant should have made the necessary investments during the 3 years preceding the date of the application and must retain the said investments for a period of at least 3 year as from the date of the naturalization. Please note that the three- year holding period does not apply for the permanent privately-owned residence, as it should be kept for life.
6. Which family members of the investors does the program apply to?
The program applies to the immediate family of the applicant (spouse or partner, minor and adult financially dependent children up to the age 28, provided they are university students).The investor’s parents may also apply for citizenship after the investor has acquired his/her citizenship, provided that they are owners of a private residence of at least €500,000 (+VAT).The investor and his/her parents may collectively acquire one residential property of a total value of at least €1m (+VAT).
7. What is the time frame for examining an application?
8. What is the amount of fees payable for each application?
All fees can be seen in the table below:
|APPLICANT||SUBMISSION FEE||CERTIFICATE ISSUANCE FEE||TOTAL|
|Financially dependent child||€2,000||€5,000||€7,000|
9. Do investments have to be made personally by the investor?
Investments can be made either personally by the investor, either by his/her spouse, or jointly with the spouse or even through a company in which they are participating as shareholders or as ultimate beneficial owners. Please bear in mind that, if the applicant invests through a company in which he/ she participates as a shareholder only a percentage of the investment will be taken into consideration in proportion to his holding percentage.
|Result||EU Passport||EU Passport||EU Residence for 5 years; passport after 6 years plus exams in the Latvian language and history||EU Residence for 5 years (3 years then 2 years); passport after 6 years plus exam in English||EU Residency for 5 years|
|Time to obtain passport||6 months||12 - 14 months||6 years||6 years||10 years|
|Amount of investment||2,500,000||500,000 (or 150,000 plus rent of a property for minimum 16,000 for 5 years)||250,000||2,000,000||500,000|
|Donation||–||650,000 (plus 50,000 for every adult family member and 25,000 for under 18)||–||–||–|
|Duration for investment to be kept||3 years||5 years||5 years||5 years||5 years|
|Assets||Bonds or securities of Cyprus companies or Real estate or Business or Deposit||Bonds and Real Estate||Real Estate||Bonds or securities of the UK companies (75%) and Real Estate or Deposit (25%)||Bonds or Real estate or Business|
|Physical residence||No||6 -12 months||No||Not to be absent for more than 450 days within first 5 years and not more than 90 days within the 6th year||Yes|
|Visa free travel, residence and work in EU||Unlimited||Unlimited||Free travel in Schengen countries and residedence in Latvia, no working permission||Residence in the UK, no working permission||Free travel in Schengen countries and residence in Spain, no working permission|