Cyprus Citizenship

CYPRUS

Cyprus offers two golden visa programs through real estate investment. One for permanent residency and one for citizenship. The two Cypriot immigration investment schemes are fast and efficient at granting a residency permit and second passport. Cyprus is a full member of the European Union and English is widely spoken on the island.

Contact our advisors for further details.

Cyprus Citizenship by Investment Programme:

Cyprus (Flag, beautiful cover photo, country shape)

  • Population: 1.20 million
  • Capita: Nicosia
  • Language: Greek, Turkish
  • Religion: Greek Orthodox, Muslim
  • Currency: EUR
  • GDP per capita: 34000$
  • Climate: Subtropical, Mediterranean

Cyprus Citizenship by Investment Programme:

The rules for the Cyprus Investment Programme were revised by the Cyprus Council of Ministers. After the 19th May, 2019 foreign nationals may apply for citizenship provided that they can meet specific criteria. Once Cypriot citizenship is obtained it is valid for your entire family, for life, and can also be passed on to your descendants.

Cyprus is situated in the south-eastern part of the Mediterranean Sea where Asia, Europe and Africa meet and this strategic position has played a vital role in the economic and financial development of the country. A member of the EU since 2004, Cyprus is considered an attractive place to live because of its warm climate and the convenience of its location.

Requirements/Application Criteria

To apply for citizenship, the Cyprus Investment Programme states that an applicant must be able to provide a significant contribution to the country in economic terms. Also, they will have to pass vetting processes and background checks. If they meet the criteria, the applicant and their family are granted full citizenship.

To qualify the applicant must be over 18 years of age. Also, they must meet the following conditions:

  • A donation of €75,000 must be made to both the Research and Innovation Fund/ certified innovation enterprise and the Cyprus Land Development Corporation

Additionally, they must invest a minimum of €2million in one of the following:

  • Real estate, development and infrastructure: Buy or construct property and infrastructure.
  • Invest in a new or existing business: This business must be based and operating within Cyprus and employ at least 5 Cypriot citizens.
  • Financial investments: Investing in bodies licensed by the Securities and Exchange Commission. This includes buying any financial assets, bonds, debt securities, etc.

The applicant may combine any of the above investments as long as it totals a minimum of €2million.

Residence

Cyprus is considered an attractive location and boasts a well-qualified workforce, a beneficial landscape for investment and attractive taxation laws. Additionally, the island is well serviced with transportation and telecommunications. The Cypriot market is modern and service-based running as a free market economy. The regulatory and legal frameworks give international investors confidence in the country, with
full transparency making the regulations both effective and easy to negotiate. The economy is robust and since the last recession has shown consistent growth. Recent
strategies have acted to stimulate the Island’s economy, GDP is still growing and Cyprus is now one of the fastest-growing European economies.

Applicant Criteria

There will be several strict, detailed checks with the final decision resting with the Ministry. An applicant who has already been rejected for residency in another EU country will automatically be rejected for citizenship under this programme.

All applicants must:

  • Possess a valid Europe Schengen Area visa.
  • Own a permanent residence within Cyprus which is valued at a minimum of €500,000 +VAT.
  • Applicants of the same family may submit individual applications but any collective residence must be valued at a minimum of €500,000 +VAT per person.
  • Applicants are required to pay a processing fee of €7,820 per person over 18 years of age.

Applications include dependants which are defined as:

  • Spouse of the main applicant
  • Children under the age of 18 years
  • Children aged 18-28 who are full-time students and financially dependent.
  • Parents – only if they purchase a residence valued at a minimum of  €500,000 +VAT.
  • All dependents over the age of 18 must have a clean criminal record.

Procedures and time frame

Every application follows the same procedure:

Step 1 — Selection of Qualifying Real Estate

We can advise you on the current situation of the real estate market in Cyprus, offering insight into options and conducting searches.  We undertake due diligence on all our research ensuring that you get the best possible advice on market condition and real estate availability.

Step 2 — Prepare citizenship application

Every applicant receives a very detailed application package which includes a checklist of all the documents that need to be submitted.  Some of these may be requested before the package is received as they often take some time to locate.  These include:

  • Birth, marriage and divorce certificates

Police clearance certificates – from country of residence and country of origin (if different).

Step 3 — Submission of citizenship and immigration permit applications

Once the applicant has completed the citizen application it needs to be sent to the Cypriot Ministry of Interior Then, an application for an immigration permit must be sent to the Migration Department.  Applicants must visit the Migration Department to submit biometric data.

 

Since July 2018, only applications that are made via approved, registered providers will be accepted.

 

The usual time-frame for the issue of the immigration card is 5-10 working days from the date of submission.  This allows time for the applicant to travel to, and reside on the Island and wait to receive their Cypriot passport.

 

When the Ministry of Interior receives an application for citizenship it will forward it to the Ministry of Finance.  The Finance Ministry then looks at the financial criteria, gives clearance and returns it to the Ministry of Interior for further checks.  Once these have been completed satisfactorily the application is then sent to the Council of Ministers.

 

The entire process takes approximately 6-8 months.

Step 4 — Issue of Cypriot citizenship certificate

Once the Council of Ministers has ratified the application they issue a letter of approval.  The applicant must have held an immigration permit for 6 months before they go to Cyprus to receive the documents.

The applicants attends a ceremony to swear the oath to the Republic.  Their citizenship certificate is officially stamped and a biometric passport and ID are issued.  This takes around 2-3 hours.  The applicant will need to be present in Cyprus for one working day.

Dual citizenship

No restrictions.

Taxation

The non-domicile scheme states that taxation is based on residence rather than citizenship so Cypriot citizens do not pay tax on overseas earning.

Personal tax rates progress incrementally up to 35%.  Corporate tax is 12.5% and immovable property tax was abolished in 2016.

VAT is 19% and applies to goods and services in Cyprus, including imports and goods from the EU.

Advantages of Citizenship

  • Travel to 173 destinations worldwide Visa-free or  apply on arrival.
  • EU citizenship – free movement, ability to work and study within 27 nation-states.
  • Security within the legal and social system across the EU.
  • Applicants benefits extend to the whole family
  • Rapid completion within 6-8 months
  • Straightforward process
  • Citizenship is inherited by future generations

REAL ESTATE INVESTMENT CYPRUS

A few examples of our real estate options for residency and citizenship investment in Cyprus.

Vista Townhouses $ 565,000.00

Vista Townhouses

$ 565,000.00

Luxury townhouses in a tranquil area overlooking the Mediterranean Vista is located in a prominent hillside residential suburb of Limassol with beautiful coastal views. It…

124 m² 2 beds
124 m² 2 beds

A perfect balance Aria Residences enjoys a privileged location in one of the most desirable residential suburbs of Limassol, with spectacular views of the Limassol…

105 m² 2 beds
105 m² 2 beds

The Grove Townhouses $ 350,000.00

The Grove Townhouses

$ 350,000.00

Modern elegance with Mediterranean design Surrounded by orchards and ensconced within landscaped gardens, The Grove comprises of two and three-bedroom townhouses. The contemporary designs are…

147 m² 3 beds
147 m² 3 beds

Domus Townhouses $ 335,000.00

Domus Townhouses

$ 335,000.00

Stylish apartments in a traditional village Domus is located in an elevated position within minutes walking distance of the picturesque hillside village of Tala. From…

122 m² 2 beds
122 m² 2 beds

Luxury residential residences in a desirable location Amaya Residences is located in a desirable location in the heart of Pafos Town, offering contemporary city living….

131 m² 3 beds
131 m² 3 beds

Amaya Residences is located in a desirable location in the heart of Pafos Town, offering contemporary city living. This luxury residential development consists of 1,…

140 m² 3 beds
140 m² 3 beds

CITIZENSHIP AND RESIDENCY PROGRAMMES

A selection of alternative residency and citizenship investment programmes to consider.

Malta

600 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 183 countries
Process Duration: 6 months

Montenegro

450 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 122 countries
Process Duration: 2 months

Cyprus

2 150 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 172 countries
Process Duration: 6 months

Moldova

100 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 119 countries
Process Duration: 6 months

Austria

EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 185 countries
Process Duration: 24 months

Bulgaria

512 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 169 countries
Process Duration: 6-12 months

Turkey

250 000 EUR Investment
Real Estate
Middle East Citizenship
Visa Free travel to 110 countries
Process Duration: 2 months

Jordan

250 000 EUR Investment
Real Estate
Middle East Citizenship
Visa Free travel to 49 countries
Process Duration:

Vanuatu

130 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 125 countries
Process Duration: 6 months

Saint Lucia

100 000 EUR Investment
Real Estate
EU Citizenship
Visa Free travel to 128 countries
Process Duration: 3 months

Saint Kitts & Nevis

200 000 EUR Investment
Real Estate
Caribbean Citizenship
Visa Free travel to 130 countries
Process Duration: 3-4 months

Grenada

150 000 EUR Investment
Real Estate
Caribbean Citizenship
Visa Free travel to 127 countries
Process Duration: 3-4 months

Dominica

100 000 EUR Investment
Real Estate
Caribbean Citizenship
Visa Free travel to 120 countries
Process Duration: 4 months

Antigua & Barbuda

200 000 EUR Investment
Real Estate
Caribbean Citizenship
Visa Free travel to 130 countries
Process Duration: 3-4 months

Residence by investment Programs

Explore the most popular residency by investment programs worlwide

Greece

250 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

Spain

500 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration: 6 months

Portugal

500 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

Australia

EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

Austria

EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

Cyprus

2 150 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to 172 countries
Process Duration: 6 months

Canada

1 200 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration: 6 months

Italy

2 000 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration: months

Switzerland

EUR Investment
Real Estate
EU Residency
Visa Free travel to 155 countries
Process Duration:

HongKong

EUR Investment
Real Estate
Asia Residency
Visa Free travel to countries
Process Duration:

Jersey

1 000 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

Latvia

250 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration: 3 months

Malaysia

135 000 EUR Investment
Real Estate
Asia Residency
Visa Free travel to countries
Process Duration:

Malta

250 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration: 3-4 months

Monaco

EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

New Zealand

5 500 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to 173 countries
Process Duration: 6-8 months

Singapore

250 000 EUR Investment
Real Estate
Asia Residency
Visa Free travel to countries
Process Duration: 6 months

Thailand

60 000 EUR Investment
Real Estate
Asia Residency
Visa Free travel to countries
Process Duration: 3 months

United Kingdom

2 000 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration: 3 months

USA

900 000 EUR Investment
Real Estate
EU Residency
Visa Free travel to countries
Process Duration:

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