Become a citizen of Cyprus
an EU member state

INVESTMENT CRITERIA AND CONDITIONS

  1. Cyprus Citizenship may be obtained through a secure property investment of €2 million plus VAT, provided the property/ies is/are residential.
  2. The investment can be a single property or combined property portfolio.
  3. The main investment may be sold after a period of three (3) years, however, the investor must always maintain / purchase a property with a value of at least €500,000 plus VAT
  4. Clean criminal record is required
  5. The investor’s parents are entitled to apply for Cyprus Citizenship provided that they have purchased a permanent residence of at least €500,000 plus VAT.

BENEFITS OF THE CYPRUS INVESTMENT PROGRAMME

  • SIMPLEApplication will be examined within 6 months
  • NO RESIDENCE REQUIREMENTS Investors must visit Cyprus at least once every 7 years
  • FREE MOVEMENTCitizens have the right to live, work and get an education within the European Union, Free movement of goods, services and capital, Visa-free travel to over 158 countries including the EU and Canada
  • PROTECTIONProtection by the diplomatic or consular authorities of any EU country
  • LANGUAGEThere are no language requirements
  • NO DONATION No donation to the Cyprus Government is required
  • RIGHT TO VOTEAll European Citizens have the right to vote and stand for European Parliament Elections
  • DUAL CITIZENSHIPNo need to renounce previous nationality as dual citizenship is allowed
  • VALID FOR LIFE Citizenship can be passed to future generations by descent
  • ELIGIBILITYAll nationalities are eligible for the programme
  • NO TAX CONSEQUENCES No tax consequences unless one opts to become a tax resident in Cyprus

Guide to the Cyprus Investment Programme

[pdf-embedder url=”https://ridgewayclarke.com/wp-content/uploads/CIP-ubr.pdf” title=”CIP ubr”]

This is to kindly inform you that the Council of Ministers of the Republic of Cyprus, during its meeting on 13.02.2019 has approved changes in the Cyprus Investment Program as analysed below:

Changes applicable immediately:

1.Applicants who have applied for citizenship in another EU Member State and such application has been rejected shall not be eligible to obtain the Cypriot Citizenship.
All applicants shall be required to submit a declaration with regards to the above.

2. Investments in bonds is no longer available.
For the applications which will be submitted from the 15.05.2019 and after, the following conditions have been added:

1.DONATION
A.The investor will have to make a donation of minimum EUR 75.000- in the Research Promotion Foundation. A donation of up to EUR 75.000- will not be considered as part of the investment amount but it will be over and above.
If however an investor donates more than EUR 75.000-, then such additional amount, shall be counted as part of the investment.

Exceptions:
i. The above criterion is removed, if the applicant has invested at least EUR 75.000- is a certified innovative business.
ii. The above criterion is also removed where the investor has completed an investment under Criterion A3 ( purchase/ participation/ incorporation of Cypriot Company) of at least EUR 400.000-, in a company which operates in the primary or secondary sector of the economy (construction sector excluded) or in the sectors of research and technology, education, health and renewable energy sources.

AND
B. The investor will have to make a donation of minimum EUR 75.000 in the Cyprus Land Development Corporation. A donation of up to EUR 75.000- will not be considered as part of the investment amount but it will be over and above.
If however an investor donates more than EUR 75.000-, then such additional amount, shall be counted as part of the investment.

2.SCHENGEN VISA
At the time of submission of the citizenship application, every adult applicant (includes the main investor and adult dependents) will have to be holder of a valid Schengen Visa.
Exception:
i. Citizens of EU Member States
ii.Citizens of third countries who do not need a visa to enter EU Member states.

3.EXIT STRATEGY
The investors will have to retain their investment for 5 years from their naturalization. If they want to change their investment, they have the right to do so provided they obtain an approval from the Authorities of Cyprus.

4.PERMANENT RESIDENCE
The exception remains that if the applicant invest exclusively in residential units and at least one of the units is EUR 500.000 plus V.A.T. then he shall be exempted from the obligation to purchase an additional permanent residence of EUR 500.000- plus V.A.T.
However, for applications submitted after the 15.05.2019 and the investment has been made in properties which have already been used for the Cyprus Investment Program, then the overall investment threshold shall be EUR 2,5 million.

5.PLANNING PERMIT
Copy of the Planning Permit (where such is required to be issued by the relevant laws of Cyprus), should be submitted as part of the citizenship application documents.

6.BANK WAIVER
Copy of the Bank Waiver issued by the Bank, should be submitted as part of the citizenship application documents.

7.COMPLETION CERTIFICATE
A Completion Certificate issued by the architect of a project should be submitted as part of the citizenship application documents.
In case of an under construction property then 5% of the purchase price, should be paid in a special account or the seller should issue a bank guarantee for the amount of 5%.

 

Call Now
Choose your language »