Cyprus Investment Programme

Cyprus is ranked as one of the most popular Investment programmes in Europe. 

 

The Cyprus passport can be approved within 6 months of successful filling of application.
The recent amendments to the Naturalisation of Investors in Cyprus by Exception Scheme based on subsection (2) in section 111A of the Civil Registry Laws of 2002-2015 was approved by the Cyprus Council of Ministers on the 13 September 2016.

This has resulted in no longer having a requirement to file a group application and the investment threshold has been reduce to only €2 million.
A Cyprus citizenship is offered to spouse, parents and dependants of the applicant. The investor’s parents can apply for Cyprus citizenship provided they own/purchase a permanent residence with a minimum acquisition cost of €500k. The applicant and their family once granted citizenship, it is granted for life.

Why Cyprus

Other reasons why Cyprus remains the preferred EU Citizenship jurisdiction

  • Ranked as the 5th best relocation destination in the world (source: 2014 report prepared by Knight Frank, a leading independent, global real estate consultancy firm);
  • Cyprus enjoys 320 days of sunshine a year and is classified as the sunniest European location;
  • Strategic geographic location between the three continents of Europe, Africa and Asia;
  • Legal system based on English common law;
  • English language is widely spoken and the accepted language for business;
  • High standards of Education and access to many leading private schools, public schools and Universities in Cyprus and Europe;
  • Excellent telecommunication and air travel connections;
  • Rich history with four UNESCO World Heritage Sites;
  • One of the safest countries in Europe with lowest crime rates and relaxed lifestyle.
  • Benefits of Cyprus Investment Programme

Free Movement of People, Services, Capital and Goods. The Cyprus and EU nationals are free to travel work and study across the 28 countries- members of EU. Also, they have the right to provide services through companies or as individual citizens within the EU borders without any obstacle. Additionally, the transfer of goods produced in EU, the funds and purchase of property are free.

  • Attractive Tax System

Cyprus has a favourable tax system and in addition to its strategic location-in the crossroads of three continents – Europe, Africa and Asia, it is considered as the most attractive tax system in Europe. Furthermore, a newly announced a “non-domicile” scheme which offers zero taxation of worldwide dividends and interest income, for period of 17 years.

  • High standard of living

Cyprus is ranked among the lowest crime rates within the EU and offers a high standard of living with access to reputable private and public schools and good medical facilities.

  • Visa Free Travel

Travelling for EU Nationals within EU is visa free. Moreover, no visa is required for more than 157 non-EU countries

  • Dual Citizenship

Cyprus allows for its citizens to hold dual citizenship.

  • Financial Criteria for the Cyprus Investment programme   

The applicant has a choice of one or a combination of the below Direct investment options in Cyprus for a minimum amount of €2 million, held for three years:

  1. Purchase of Cyprus Government Bonds – capped at €500K.
  2. Investment in real estate development projects including housing or commercial development projects, tourist industry developments or other infrastructure projects as well as undeveloped land, provided there is a development plan in place. (Land in non-development zones will continue to fall outside the scope of eligible real estate). When opting for the Real Estate investment option, at least one of the residential properties must be of the minimum value of €500K (exclusive of VAT, if applicable) and must be kept for life.
  3. Investment in bonds or debentures registered and issued by Cyprus companies or businesses or organisations.
  4. Purchase, incorporation or participation in Cyprus businesses and companies that are based and operate in Cyprus. Such companies are required to have a physical presence in Cyprus and to employ at least five Cypriot citizens. This criterion includes share participation in a Cyprus bank, and also applies to foreign investors who have been holding shares (directly or indirectly) in Cyprus companies, or have been appointed as Executive Managers therein for three years prior to their application for Citizenship, earning remuneration resulting in tax revenue for the Republic of at least €100,000, and provided they maintain their investment in the said companies for another three years from the date the Citizenship is granted.

Other qualifying criteria & terms
In addition to satisfying any one of the above financial criteria, the primary applicant must fulfil all of the following conditions:

  • Purchase and maintain a privately-owned residence in Cyprus, the value of which must be at least €500,000 excluding VAT (if applicable);
  • Have a clean criminal record from the country of origin and/or residence;
  • Confirm that the applicant’s name is not included in the list of persons whose property is ordered to be frozen by the EU;
  • A Permanent Residency Permit will be issued prior to Naturalisation, which can be filed concurrently with the Cyprus Investment Programme, the whole process to obtaining Citizenship still remaining within 3-6 months from filing of application.

Cyprus Investment Programme Legislation

The recent amendments to the Naturalisation of Investors in Cyprus by Exception Scheme based on subsection (2) in section 111A of the Civil Registry Laws of 2002-2015 was approved by the Cyprus Council of Ministers on the 13 September 2016.

In line with the Cyprus Governments aims to further entice Foreign Direct Investment into Cyprus, Cyprus now reinforces the Cyprus Investment Program as one of the best in Europe.

The Cyprus Investment program is enticing to high net worth individuals, investors, entrepreneurs and their families who will invest in Cyprus and gain in return a Cypriot passport with all benefits of Cyprus and EU nationals.