Cyprus Investment Program
As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus the Council of Ministers, on the 13th of September 2016, revised the “Cyprus Investment Programme” and, thus, established the new criteria and terms based on which non–Cypriot entrepreneurs/ investors and members of their families may submit applications in accordance with the provisions of the “Programme”.
Target market for the Cyprus investment program
The Cyprus investment program is targeted to Non-Cypriot citizens who meet certain criteria and fulfill the terms and conditions outlined by the Government of Cyprus may apply for the acquisition of Cypriot citizenship through naturalization by exception and enjoy the benefits of being citizens of the European Union.
Investors can apply for Cypriot citizenship by submitting a stand-alone application, upon making an investment of at least €2 million which must be retained for a period of three years.
Prior to naturalization, the applicant must possess a residency permit in the Republic of Cyprus for a period of at least six months.
Check out 10 reasons to invest in Cyprus
Criteria for the Cyprus Investment Program
- Investment in real estate, land development and infrastructure projects
The applicant must have made an investment of at least €2 million for the purchase of properties, or for the purchase or construction of buildings, or for the construction of other land development or infrastructure projects.
If the applicant decides to purchase residential properties, he/she must have invested at least €2 million in one or more properties, provided that the value of one of the properties is at least €500,000 (excluding VAT), which must be kept as the permanent residence of the investor in Cyprus.
The investor has the right to:
– rent the permanent residence in Cyprus.
– sell the permanent residence in Cyprus, given that another permanent residence will be purchased
- Purchase or establishment or participation in Cypriot companies or businesses
The applicant must have invested participated in companies / organisations established and operating in the Republic of Cyprus with investment costs of at least €2 million.
- Investment in Alternative Investment Funds or financial assets of Cypriot companies or organisations that are licensed by CySec
The applicant must have bought units of at least €2 million from alternative investment funds (AIF) established in the Republic of Cyprus, licensed and supervised by the Cyprus Securities and Exchange Commission and whose investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this Programme or in areas approved by the Minister of Finance.
- Combination of the aforementioned investments
The applicant may proceed with a combination of the above investments, provided that the total investment will amount up to at least €2 million.
Terms & Conditions
- A minimum investment of €2 million
- Keep investment for a minimum period of 3 years
- Clean criminal record
- Permanent residence in the Republic of Cyprus
Applicant must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000 (excluding VAT)
- Residence Permit in Cyprus
The applicant, prior to his/her naturalization as a Cypriot citizen, must hold a residence permit in Cyprus (no requirement to live in Cyprus).
Benefits of the Cyprus Investment Programme
- Travel, live and work within all EU-member states
- Travel visa-free to more than 150 countries
- Passed on to family members: spouse and dependent children
- The investor does not become a tax resident, unless more than 183 days in a calendar year are spent in Cyprus
- Not necessary to reside in Cyprus before or after the obtainment of citizenship
- Dual citizenship permitted
- The applicant’s parents are also entitled to apply for Cypriot citizenship provided they own a permanent residence in Cyprus of at least €500.000 (excluding VAT). Their application may be submitted after the investor had acquired Cypriot citizenship
Need more info Pls contact us