Participating in the program investor with his family the investor will obtain Cyprus passports, which is a full European citizenship, taking advantage of all privileges that have any European citizen in any EU country member state.
The program requires the minimum amount of €2mln to be invested in Cyprus for 3 years. The citizenship is granted within just 3 months!
The program has been very successful, and already attracted over 2.5 €billion of direct investments into the economy of the Republic of Cyprus.
The program is unique within other European states and offers great advantages:
- Granting the Cyprus passport, the Investor and his family can freely reside, work, study, and open business in Cyprus and in any other EU-member state as well as in Switzerland, Liechtenstein, Norway and Iceland.
- The Holder of the Cyprus passport can travel without any visa requirements in 157 countries.
- Dual-citizenship is permitted. Acquisition of Cyprus citizenship is not reported to other countries.
- The passport is issued also for the investor’s spouse*** and all financially dependent children (up to 28 years old). All next generations of investor retain EU citizenship
- The investor’s parents are entitled to apply for citizenship provided that they are owners of a Cyprus permanent residence of at least €500.000
- There is an express procedure (3 months) can be approved and receive the passport,
- There is no further requirement to reside in Cyprus
- Minimum investment required is €2mln (here and below amounts are excluding VAT where VAT is applicable)
- The investment must be kept for only 3 years. After this period, the assets can be sold. To be more precise, the Law states that a property of minimum value of €500.000 must be kept as a private residence (we expect that this condition will be removed; anyway this private residence can be rented out and generate rental income for investor)
- There is no donation to the Cyprus government
- There is no requirement for history and language proficiency tests
- If an investor sells residential property(ies) of €2mln after 3 years, has to buy another residential property(ies) worth €500.000
An investor is free to choose where to invest from a wide choice of options:
- In Residential properties
- In Commercial properties
- In Development projects
- Purchase or creation or participation in Cypriot businesses or companies
- Investment funds, financial assets of Cypriot businesses or organizations
- Government bonds (maximum €500.000; the balance €1,5mln should be invested in other options like property)
- Combination of the above options
An investor must meet the following requirements:
- The minimum investment amount is €2mln
- Keeping investments for a period of minimum 3 years
- Clear criminal record for applicant, spouse, adult children and parents
- The investor must own a private residence in Cyprus, purchased for at least €500.000.
- The investor must be the holder of a residence permit in Cyprus to qualify for receiving the Cyprus Citizenship. For this purpose, should submit an application for a residence permit, which will be issued simultaneously with the filing of the Citizenship application per the EU regulation.