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Cypriot Passport Acquisition and Permanent Residence Permit
Repossession Property Yield Properties

Latest news

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    The Council of Ministers has decided to restrict the number of citizenships... read more

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  • 19 April 2018 VAT break for young couples buying land for first home

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Cypriot Passport Acquisition and Permanent Residence Permit
Repossession Property Yield Properties

Latest news

  • 22 May 2018 Limit on citizenship scheme announced

    The Council of Ministers has decided to restrict the number of citizenships... read more

  • 3 May 2018 Oil Tank demolition in progress Irini Gardens Newzoe Developers Ltd

    The first oil tank on the old Larnaca-Dhekelia road was demolished on... read more

  • 2 May 2018 Новые строительные проекты на Кипре

    Новые строительные проекты на Кипре read more

  • 26 April 2018 The Russian returns to invest in Phinikoudes

    Viable prospect of erecting a multi-storey hotel by the Russian mogul... read more

  • 19 April 2018 VAT break for young couples buying land for first home

    Young couples buying land for their first home in Cyprus may only pay 5 per... read more

Cypriot Passport Acquisition

CYPRIOT PASSPORT ACQUISITION THROUGH THE NATURALISATION OF INVESTORS IN CYPRUS BY EXCEPTION SCHEME BY INVESTMENT IN REAL ESTATE

New investment and criteria for Cyprus Passport (citizenship) as from 13.09.2016

 

Cyprus has become an attractive destination for investment and one of the most interesting financial centres in Europe.

Importance of Cyprus EU citizenship

  • Very fast procedure of only 3 months
  • Travel to more than 140 countries with no visa
  • Low taxation rates
    • No personal income tax as there is no need to become a Cyprus tax resident
    • No inheritance or donation tax to family members
    • No restriction on imported capital
    • No capital gains tax from the sale of property at Cyprus if investment will take place before the end of the year
    • Reduced transfer fees by 50% as a government measure to boost the property market
    • Double tax treaties with a lot of countries
  • High standard legal system based on English law compliant with EU laws and regulations
  • Professionalism in services enriched with specialised accountants, lawyers, investment advisors
  • High standard telecommunication’s and business’ infrastructure
  • Financial crisis of 2013 created huge investment opportunities especially in the property market.
  • Tourism and oil and gas resources that have been recently discovered in our island have created an increased interest for investors to invest in Cyprus
  • Very low crime ratio
  • High quality of private schools and universities
  • Citizenship can be passed to the children of the passport holder to be used for future studies at EU countries etc

Before applying for Cyprus passport, the applicant must fulfil the criteria below:

  1. A clear criminal record is needed
  2. Private house, flat for permanent residence in the island for 500000 euro plus VAT.
  3. The applicant must already have a permit to stay at Cyprus at the time of application for Cyprus passport.


New criteria for investors

An application to the Cyprus ministry of interior is needed, through a lawyer.

Criterion 1:
Minimum investment of 2000000 euro of property in residential, commercial or tourism sector. Development of a new property project is also acceptable and maybe the best way to combine citizenship with a good investment.We must note that Cyprus has one of the best economy growth At 2016-17.

Criterion 2:
The applicant must have invested in Cypriot companies or businesses minimum 2000000 euros. This capital must be channelled for the funding of investment purposes of such businesses only in Cyprus, on the basis of an investment project. Such companies must have an office presence in Cyprus with signifigant  financial activity and an important cycle of activities and must employ at least 5   EU citizens.

Criterion 3:
Investment in Alternative Investment Funds (AIF) or financial assets of Cyprus businesses that are licensed by the Cyprus Securities and Exchange Commission may be an option.

 In the case of AIFs the applicant must have bought units of a value of 2 million euro in AIFs regulated in Cyprus by the CySec and of which the investments are conducted in Cyprus. Such investments must be kept on for at least 3  years, the auditor of the AIFs that qualify the specific citizenship granting plan shall notify the Ministries of inferior and Finance every year.

When an applicant buys assets in Cypriot businesses or entities such an acquisition  must be over  2000000 euro and it may include bonds that have been issued with the authorisation of the CySec, for companies with a substantial financial activity in Cyprus and which aim at the funding of investment purposes of those entities/businesses only in Cyprus, and on the basis of an investment project.

Criterion 4:
It is possible for the applicant to combine the investments in criteria 1-3 above under the condition that the total value of the investment is minimum 2 million euro. Government bonds up to 500000 euro from the Ministry of finance on the condition that such bonds will be kept on for 3 years.

Time frame

In all four cases the applicant must have effectuated the relevant investments within the 3 years preceding the application and the investment must be kept for 3 years after the granting of Cypriot passport.

Criteria for family members

Family members of the applicant who has been granted citizenship can apply for Cypriot passport as well.

For the above purposes , family members are the following:

  1. Spouse
  2. Civil partner
  3. Parents
  4. Children
  5. Children dependent on the applicant over 18 years old such as students and mentally disabled people

In the case of spouses and civil partners , it is possible for them to apply at the same time as the investor, while parents and dependent children over the age of 18 must apply once the investor has been given their passport.

The applicant’s parent must also fulfil a further requirement; he/she must have a permanent private residence in Cyprus of a market value minimum 500000 euro plus VAT , and where both parents apply they must own a private permanent name of a value minimum 1 million euro plus VAT.

Cyprus Passport is regarded one of the best options worldwide, for businessmen want to expand their operation abroad at a safe and helpfull  economic environment.

 

NOTELimit on citizenship scheme announced - May 2018.

The Council of Ministers has decided to restrict the number of citizenships granted under the ‘Citizenship by Investment Scheme’, aka ‘Golden Visa Program’ aka ‘Passports for Cash Scheme’ to 700 a year.      Read more here..