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Cyprus Citizenship By Investment

Classical mythology associates the island of Cyprus with the birth of Aphrodite, and with its golden beaches, wondrous sea caves, and dazzling sunshine, it is no surprise that these early traditions linked the Mediterranean nation to the Greek goddess of love and beauty. Today, Cyprus is the destination of choice for hundreds of thousands of tourists every year, all seduced by the island’s ancient riches and spectacular coastline.

Non-EU investors and their families may gain citizenship in Cyprus through a programme called ‘Cyprus Investment Scheme’. Applicants must first purchase Cypriot real estate, which is declared as their permanent residence. They must then make an investment in the Cypriot economy, such as an investment in Government bonds. Finally, before obtaining their passport, they must visit Cyprus to provide their biometrics.

Visit the official website: www.investcyprus.org.cy

Benefits

Cypriot citizens may take advantage of a range of benefits, including:

  • Visa-free access to almost 160 countries, subject to change

  • The opportunity to maintain dual citizenship if so desired

  • Low cost of living, coupled with a high standard of living

  • A low tax regime, safeguarding citizens from, for example, worldwide income, inheritance, and gift tax

  • Excellent education and healthcare systems, and advanced infrastructure

The benefits of Cyprus’ Naturalisation by Exception Programmes include:

  • The ability to include family members in the application

  • Fast processing time; 4-6 months to citizenship

  • No interview requirement

  • No minimum level of English requirement

  • No physical presence or residency requirement, except that applicants must travel to Cyprus at lease once

  • Excellent education and healthcare systems, and advanced infrastructure

  • All nationalities eligible

Application Process

Applicants must be over 18 years old and be of good character without any criminal convictions. They may apply with their spouse and children up to the age of 18. Children between the ages of 18 and 28 may be included in the application if they are financially dependent on the main applicant.

The process of applying for citizenship is rigorous and requires diligent preparation in order to gather all the information needed. Application timelines can vary and be difficult to predict, although they usually depend on how easily an applicant can access the required documentation, as well as the complexity of the application as a whole. We generally advise clients that it will take between 4 to 6 months to obtain citizenship after an application for citizenship is submitted to the Government of Cyprus.

 

The process may be simplified into the following steps:

Step 1: Application preparation and pre-approval by CS Global Partners.

Step 2: Purchase of real estate.

Step 3: Citizenship application submission and qualifying investment made in an escrow account.

Step 4: Government processing of the application.

Step 5: Approval in principle.

Step 6: Government fees paid and investment released.

Step 7: Citizenship certificate issued.

Step 8: Passport application, biometrics, and passport issuance.

Investment Options

1. An investment of €2 million in residential real estate in Cyprus

The investment in residential real estate must be retained for a minimum period of 3 years. At the end of 3-year period the investment can be reduced to a €500,000 residential property which should be held indefinitely.

The applicant can make multiple property purchases, so long as the total value of €2 million is retained for 3 years, and as the total value of the residential property owned indefinitely in Cyprus remain equal to or above €500,000.

2. €2.5 million (combination of real estate and/or investments)

A 3-year investment of €2 million in one or more of the following:

  • Interest bearing Cypriot government bonds, provided the investment does not exceed €500,000.
  • An investment, of €2 million in “eligible real estate” situated in Cyprus, namely:
    a. Residential;
    b. Commercial;
    c. Infrastructure;
    d. Land, provided there is a development plan in place
  • Creation, acquisition or participation in a Cypriot company or business where the applicant is a majority shareholder, with activities in Cyprus, and employing 5 Cypriot or EU nationals, who have been resident in Cyprus for a duration of 5 years prior to the filing of the citizenship application.
  • The alternative Investment Fund or financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec), with activities in Cyprus.
  • A €500,000 investment in residential property, which must be held indefinitely.

Visa-Free Travel

Albania
Andorra
Antigua & Barbuda
Argentina
Armenia
Austria
Bahamas
Bahrain
Bangladesh
Barbados
Belgium
Belize
Bolivia
Bosnia & Herzegovina
Botswana
Brazil
Brunei
Bulgaria
Cambodia
Canada
Cape Verde
Chile
Colombia
Comoros
Costa Rica
Croatia
Czech Republic
Denmark
Djibouti
Dominica
Dominica Republic
Ecuador
Egypt
El Salvador
Estonia
Fiji
Finland
France
Gambia
Georgia
Germany
Greece
Grenada
Guatemala
Guinea-Bissau
Haiti

Honduras
Hong Kong
Hungary
Iceland
Indonesia
Iran*
Ireland (Rep.)
Israel
Italy
Jamaica
Japan
Jordan
Kenya
Kiribati
Laos
Latvia
Lebanon
Lesotho
Liberia
Lithuania
Luxembourg
Macau
Macedonia (FROM)
Madagascar
Malawi
Malaysia
Maldives
Mali
Marshall Islands
Mauritania
Mauritius
Mexico
Micronesia
Moldova
Monaco
Montenegro
Morocco
Mozambique
Nepal
Netherlands
New Zealand
Nicaragua
Norway
Oman
Palau
Palestinian Territories

Panama
Papua New Guinea
Paraguay
Peru
Philippines
Poland
Portugal
Qatar
Romania
Samoa
San Marino
São Tomé and Príncipe
Senegal
Serbia
Seychelles
Singapore
Slovakia
Slovenia
Solomon Isl.
Somalia
South Africa
South Korea
Spain
St. Kitts & Nevis
St. Lucia
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Swaziland
Sweden
Switzerland
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tonga
Trinidad and Tobago
Tuvalu
UAE
Uganda
Ukraine
United Kingdom
Uruguay
Vanuatu
Vatican City
Venezuela
Zambia
Zimbabwe