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Cypriot Passport Acquisition and Permanent Residence Permit
Repossession Property Yield Properties

Latest news

  • 1 August 2018 Cyprus construction industry enjoying a revival

    Cyprus’ construction industry seems to be regaining confidence over the... read more

  • 23 July 2018 Signing of an agreement for the creation of satellite Casino at Larnaka international airport

    The Hermes Airports Ltd and the Integrated Casino Resorts Consortium Cyprus... read more

  • 17 July 2018 Larnaca Tower plans progressing

    It looks as if a high-rise development ‘Larnaca Tower’ will soon get... read more

  • 16 July 2018 Andreas Byras Mayor of Larnaca interview in Politis newspaper

    "There will be pressure. Neither with the issue of the harbor, nor with the... read more

  • 10 July 2018 Hellenic Bank Step towards the conclusion of the agreement

    The decision of the House of Representatives yesterday is still a decisive... read more

Cypriot Passport Acquisition and Permanent Residence Permit
Repossession Property Yield Properties

Latest news

  • 1 August 2018 Cyprus construction industry enjoying a revival

    Cyprus’ construction industry seems to be regaining confidence over the... read more

  • 23 July 2018 Signing of an agreement for the creation of satellite Casino at Larnaka international airport

    The Hermes Airports Ltd and the Integrated Casino Resorts Consortium Cyprus... read more

  • 17 July 2018 Larnaca Tower plans progressing

    It looks as if a high-rise development ‘Larnaca Tower’ will soon get... read more

  • 16 July 2018 Andreas Byras Mayor of Larnaca interview in Politis newspaper

    "There will be pressure. Neither with the issue of the harbor, nor with the... read more

  • 10 July 2018 Hellenic Bank Step towards the conclusion of the agreement

    The decision of the House of Representatives yesterday is still a decisive... read more

Cypriot Passport Acquisition

CYPRIOT PASSPORT ACQUISITION - CYPRUS INVESTMENT SCHEME

Attracting foreign direct investment is at the heart of Cyprus’ development strategy, as it represents a key driver for economic growth. 

On the basis of the Cyprus Investment Programme, a non-Cypriot citizen, who meets the economic criteria of the Programme, may apply for the acquisition of the Cypriot citizenship.

The applicant should have made the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least three years as from the date of the naturalization. In the case where, following a periodic inspection, it has been established that a criterion, term or condition of the Programme has been breached, the granted naturalization may be revoked.

Importance of Cyprus EU citizenship

  • 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
  • Tourism and oil and gas resources that have been recently discovered On our island have created an increased interest for investors 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.

Who can apply

The following non-Cypriot natural persons who meet one of the set economic criteria, are eligible to apply for the acquisition of Cypriot citizenship:

  • natural persons, either personally or through a company in which they are participating as shareholders, in proportion to their holding percentage
  • through investments made by their spouse or jointly with the spouse
  • as high-ranking senior manager of a company that meets one of the financial criteria below (provided that they receive a remuneration that generates paid tax revenues of at least €100.000 over three years)

 

Economic criteria

Eligible persons who meet one of the following financial criteria may apply for the acquisition of the Cypriot Citizenship. An application to the Cyprus ministry of interior is needed, through a lawyer.

Criterion 1:

Investment in real estate, land development and infrastructure projects of at least €2m

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 or financial assets of Cypriot companies/ organisations that are licensed by the Cyprus Securities and Exchange Commission of at least €2m


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.

Family members

Spouse/ partner: The investor’s spouse or partner may acquire the Cypriot Citizenship. Their application may be filed simultaneously

  • Minor children: Dependent children up to the age of 18 may apply, after the investor acquires the Cypriot Citizenship and provided that the other parent consents
    to the grant of the citizenship 
  • Adult financially dependent children: the right to apply for citizenship is also granted to the financially dependent adult children of the investor belonging to one of the following two categories:
    • students up to the age of 28
    • children with severe physical/ mental disability that prohibits employment
  • Parents: 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)

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’ to 700 a year.   Read more here..    

 

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