Cyprus Investment Programme

Program overview


In 2018 Cyprus government has asserted a new Citizenship by investment program oriented for high-net-worth individuals who’d like to invest in the Cypriot economy and as the outcome get Cyprus passport and EU citizenship in 6 months. Non-Cypriot citizens seeking for the second passport for them and their families have to invest €2.15 million in Cyprus real estate and meet some additional criteria.

Cyprus Citizenship Benefits

European citizenship and passport for investors and their families. Live and work in the EU.

  • LIVE, WORK OR STUDY IN ANY OF THE EU COUNTRIES

  • VISA-FREE TRAVEL TO 172 COUNTRIES WORLDWIDE

  • A BETTER QUALITY OF LIFE FOR THE FAMILY

  • A BETTER EDUCATION FOR THE APPLICANT’S CHILDREN

  • CYPRUS DUAL CITIZENSHIP (SECOND PASSPORT) IS ALLOWED

 

Please contact us for a detailed cost estimate or a confidential consultation, or to receive additional information.  Our associated attorneys are ready to assist you with attaining your investment objectives and answer any questions you might have about all of Cyprus Residency / Citizenship by Investment programs.

Cyprus Citizenship by Investment

If you prefer to meet in person at one of the company’s offices please advise us of your travel itinerary so that we may coordinate a time and date most convenient for you.

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.

As an Official Provider of the Cyprus Investment Programme registered in the Registry of Service Providers of the government of Cyprus, the company has sustained a 100% success rate in permanent residence and citizenship applications through an honest professional assessment of all applicants prior to filing. No investment needs to be made before the government issues the final approval. This guarantee your investment will become due only if and when your application is approved!

We are looking forward to working with you.

Cyprus Citizenship by Investment 2020 requirements


The list of investment options available for Cyprus citizenship applicants in 2020 includes the following criteria:

Investment in Cyprus projects of at least € 2,000,000 in real estate, land development, and infrastructure is required.

Any purchase application that includes resale property that has already been used by another applicant for the previous application for the Cypriot citizenship increases the investment amount to € 2,500,000.

The donation of the amount of €75,000 to the Foundation for Research and Innovation to contribute to the creation of an entrepreneurial innovation ecosystem. An obligation may be waived if the applicant has made investments in the category “Purchase / Establishment / Participation in Cyprus Companies” in the sum of at least € 400,000 in a company operating in the primary or secondary sector of the economy (excluding constructions) as well as in the fields of research and development, health, education and renewable energy.

The donation of the amount of €75,000 to the Cyprus Land Development Corporation to support comprehensive housing policy, particularly for the implementation of inexpensive housing projects and other housing plans/measures.

For the investment in real estate property, as well as the purchase of the required permanent privately-owned residence, planning permission, a completion certificate and a bank waiver will be required.

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 direct 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 are to be made solely in the Republic of Cyprus, should be established in the Republic of Cyprus and licensed and overseen by the Cyprus Securities and Exchange Commission (CySec). Investments should be maintained for at least three 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 (bills and securities) should be issued with the assertion of the CySec, by companies that have proven physical presence and substantial economic activity in the Republic of Cyprus.

Combination of the criteria mentioned above.

Required documents

Birth Certificate for the investor, his spouse and children (certified translation).

Clean Criminal Record Certificate for the applicant, his spouse and adult children from the country of origin (certified translation).

Curriculum Vitae for the investor, his spouse and adult children.

Certificate of attendance by an academic institution for adult children (original).

Due Diligence Report.

Marriage Certificate (certified translation).

Let “Chris Michael Property Group” Prepare Your Cypriot Citizenship Application

It’s essential that you accurately fill out the required application forms & deposit it all along with the necessary attached documents to the right immigration department to be taken into account for the Cyprus investment scheme. Nonetheless, the application forms & other due diligence can be complicated without professional instruction. Being a leading company in the real estate industry in Cyprus, we can assist you with the whole application process, including obtaining & managing application forms and offering trustworthy information with sample documentation of other needed due diligence that the applicant may require.

Cyprus Investment Programme Frequently Asked Questions


In all criteria, the applicant must possess a permanent privately-owned residence in Cyprus, of at least €500,000 (+VAT). Members of the same family, who apply separately as investors, can collectively purchase a residence, given that the total value of this home- property covers €500,000 for each applicant. In case that the value of the permanent privately-owned residence in Cyprus exceeds the amount of €500,000, part of the additional amount can be used for supplementing the total amount of the investment made based on the financial criteria above. If the applicant has invested in housing unit/ units as per Criterion 1, the purchase of another permanent residence in Cyprus will not be required, if at least one of these housing units is worth at least €500,000 (+VAT). In this case, the applicant must keep possession of this residence for life.

Yes, investors must hold a residence permit in Cyprus for at least six (6) months before they acquire Cyprus Citizenship together with a valid Schengen visa.

No, there is no requirement of residing in Cyprus after obtainment citizenship.

The investment should be held from the date of naturalization for a period of 5 years. The investor will be able to substitute the investment during the 5-year period, provided the Ministry of Finance approves it. Please note that the five- year holding period does not apply for the permanent privately-owned residence, as it should be kept for life.

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 Cyprus citizenship after the investor has acquired his/her citizenship, provided that they are owners of a private residence in Cyprus 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).

Applications are examined within approximately 3 months. Once the application is approved, the applicant will be able to take all actions for the acquisition of the Citizenship and the issue of a Cypriot passport. The procedure for the acquisition of the Cypriot citizenship will be completed, provided that the applicant holds a residence permit for at least 6 (six) months. If the applicant does not hold a residence permit for the time above, he/she will need to wait until the six months period is completed.

All fees can be seen in the table below:

Cyprus Citizenship by Investment fees
APPLICANTSUBMISSION FEECERTIFICATE ISSUANCE FEETOTAL
Investor€2,000€5,000€7,000
Spouse€2,000€5,000€7,000
Financially dependent child€2,000€5,000€7,000
Minor child€80€80
Passport & ID Issuance(each)€150--
Cyprus Permanent Residency fees
Investor /investor’s spouse /children under 18€500 & € 70 for each person for registration
Adult children & Parents€570

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.

Cyprus Golden visa is an unofficial name for Cypriot Passport obtained through investments in the country’s economy or real estate. There are no special visas for investors in Cyprus, except Permanent Residency Permit, which is available upon a property purchase or setting up a company with a foreign direct investment of at least € 171.000.

Comparison of Cyprus citizenship program to passport programs of other countries


 CyprusMaltaLatviaUKSpain
ResultEU PassportEU PassportEU Residence for 5 years; passport after 6 years plus exams in the Latvian language and historyEU Residence for 5 years (3 years then 2 years); passport after 6 years plus exam in EnglishEU Residency for 5 years
Time to obtain passport6 months12 - 14 months6 years6 years10 years
CurrencyEUREUREURGBPEUR
Amount of investment2,000,000 Residential and commercial sectors or purchase of resale property already used for a previous Citizenship application by other applicant 2,500,000500,000 (or 150,000 plus rent of a property for minimum 16,000 for 5 years)250,0002,000,000500,000
Donation75,000 to the Foundation for Research and Innovation, 75,000 to the Cyprus Land Development Corporation650,000 (plus 50,000 for every adult family member and 25,000 for under 18)
Duration for investment to be kept5 years5 years5 years5 years5 years
AssetsReal Estate/Land Development/Infrastructure projects/Funds (AIFs) or financial assets of Cypriot companies/organizationsBonds and Real EstateReal EstateBonds or securities of the UK companies (75%) and Real Estate or Deposit (25%)Bonds or Real estate or Business
Physical residenceNo6 -12 monthsNoNot to be absent for more than 450 days within first 5 years and not more than 90 days within the 6th yearYes
Dual citizenshipYesYesNoYesNo
Visa free travel, residence and work in EUUnlimitedUnlimitedFree travel in Schengen countries and residedence in Latvia, no working permissionResidence in the UK, no working permissionFree travel in Schengen countries and residence in Spain, no working permission