Cyprus Citizenship by Investment (E.U.)
Cyprus is the second largest island in the Meditteranean sea after Sicily. The country has been a a Member of the European Union since 2004 and a member of the Euro since 2007. Cyprus has been known globally for its stable political enviroment, its warm climate and numerous tax advantages.
Obtaining a Cypriot citizenship offers key benefits such as free movement of individuals, capital, goods and services within E.U. member states without the need to physically reside in Cyprus. The country allows dual citizenship of other countries, protection, free medical care and education, visa free access to 157 countries and a fast process of a maximum of four months to obtain the citizenship.
A foreign investor may apply for naturalisation if he or she meets one of the following financial criteria:
Direct Investments in Cyprus
The applicant must have made direct investments in Cyprus amounting to a minimum of €2mn, held for at least three (3) years, in any of the following:
Investment in real estate, land development and infrastructure projects
Purchase, creation or participation in Cyprus businesses and companies based and operating in Cyprus. Such companies are required to have a physical presence in Cyprus and to employ at least 5 Cypriot citizens
Investment in Alternative Investment Funds (“AIFs”) established in Cyprus and licensed by CySEC which invest exclusively in Cyprus. This criterion includes financial assets of Cypriot companies or organisations issues after approval by CySEC
Combination of the aforementioned criteria amounting to €2mn. In the context of this criterion, the applicant may also purchase Cyprus government bonds of a maximum amount of €500.000.
In addition to any of the above criteria, the investor must meet the following conditions:
hold a Clear Criminal Record from the country or origin or/and the Cyprus Police
hold a confirmation that he or she is not included in the list of persons whose assets in the EU are subject to sequestration
privately owned residence in Cyprus, the costs of which must exceed the amount of €500.000 excluding VAT. If the direct investment is made in residential property, this requirement is not applicable
in case the investor’s parents are included in the application either purchase an additional property of as least €500.000 or the investor and parents acquire one residential property of a total value, minimum €1mn
the applicant must be resident before being granted citizenship, thus a simultaneous application for both residency and citizenship must be made
have to visit Cyprus at least once
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