The Cyprus Investment Programme is a process whereby a non-Cypriot citizen may apply for Cypriot citizenship through naturalization by exception if he makes a certain significant investment in the Cyprus economy.
Cypriot (EU) passport issued after 6 months.
• Approximately six (6) months’ process • No requirement to live in Cyprus prior to, during or after the CIP application • EU free movement of goods, services & capital
The Cyprus Investment Programme is a process whereby a non-Cypriot citizen may apply for Cypriot citizenship through naturalization by exception if he makes a certain significant investment in the Cyprus economy.
• Lifts travelling restrictions & formalities
• Flexible and efficient foundation for tax structuring and planning
• Opportunities for further development of business and opening of new markets
• Can be passed on to a next generation
Minimum required investment
• Sound legal right to EU citizenship to the applicant and his dependents as of right
• Cypriot (EU) passport issued after 6 months
• No need to give up an existing passport (dual citizenship is permitted under Cyprus law)
• No residency requirements
• No language test requirements
• Strategically located in the north-eastern basin of the Mediterranean Sea at the crossroads of Europe, Asia and Africa
• Full member of the European Union since 2004
• Established & reputable International Business Center
• Excellent telecommunications infrastructure
• Ease of travel to Europe, Asia, Mideast, Africa and the US
• Common law jurisdiction
• Quality of life, education and access to medical facilities
• High standard of professional services
• Highly qualified and multilingual labour force
• Efficient accounting, legal and banking sectors
• Tax and other incentives for international companies and businessmen
• Extensive network of favourable Double Tax Treaties
• No withholding of tax on payment of dividends, interest and royalties abroad
• Flat corporation tax rate of 12,5%
Any third country national who:
• Has a clean criminal record from the country of origin and residence (if different) not older than six (6) months and not appear in the list of persons with frozen assets within the EU;
• Provides all necessary documentation (i.e. birth certificate, marriage certificate, passport pictures);
• The applicant must hold a residence permit for at least 6 months before applying.
• Has a Schengen Visa prior to applying. Third-Country nationals that do not require an entry visa for travelling in European Union member-states, as well as citizens of European Union Member States are excluded from this obligation.
• Buys a private residence in Cyprus worth at least €500,000 ((This condition does not apply if the investment under Criterion 2 below (Investments in real estate) is exclusively in a single piece of real estate residential property);
1. COMPULSORY DONATIONS:
• 100,000 to the ‘Foundation for Research and Innovation’ to promote the creation of an entrepreneurial innovation ecosystem.
• can be waived if the applicant makes an investment under Criterion 3 amounting to a total equal of at least 20% of the required investment (i.e. €400.000) to a company which is active in the primary sector of the economy, or the secondary sector (excluding construction) or in the fields of research and technology, education, health and renewable energy resources.
• €100,000 to the ‘Cyprus Land Development Corporation’ aiming at the contribution to the integrated housing policy, in particular for the implementation of affordable community housing projects and the implementation of other housing plans.
2. INVESTMENT IN REAL ESTATE
• The applicant should make an investment of at least €2.000.000 for the purchase or construction of immovable property (residential or commercial)
• There is no requirement for an additional €500.000 investment in a residential property if the applicant has already acquired a residential property of at least €500.000 within the above investment
3. PURCHASE OR INCORPORATION OR PARTICIPATION IN CYPRUS COMPANIES OR BUSINESSES
• The applicant should purchase, incorporate or participate in companies operating in Cyprus with investment costs of at least €2.000.0000 in line with the investment objectives of the Company
• The companies must have physical presence in Cyprus and employ at least nine (9) Cypriot or EU citizens who have been legally residing in Cyprus for a continuous period of 5 years
• Ownership of a residential property of at least €500.000 + VAT
4. INVESTMENT IN ALTERNATIVE INVESTMENT FUNDS (AIFs or RAIFs) OR FINANCIAL ASSETS OF CYPRIOT BUSINESSES AND ORGANISATIONS LICENSED BY CYPRUS SECURITIES AND EXCHANGE COMMISSION (CySEC)
• Investment of €2.000.0000 in AIFs or RAIFs and CySec supervised organisations whose activity is operated in Cyprus
• AIFs or RAIFs are permitted to invest in stocks in the Cyprus Stock Exchange up to €200.000. This criterion also includes financial instruments (bonds, bill, securities) of Cypriot Companies or organisations issued after approval by Cyprus Securities and Exchange Commission (CySec)
• Ownership of a residential property of at least €500.000 + VAT
5. COMBINATION OF THE ABOVE INVESTMENTS
• Total amount of €2.000.0000
• Ownership of a residential property of at least €500.000 + VAT
• Criterion 1 above is mandatory except in the instances hereinabove referred to
• Investment must be retained for five (5) years. For all applications submitted prior to 15.05.2019 the requirement is three (3) years
• The investment can be replaced at any time provided that the applicant has obtained an approval by the Ministry of Finance
• If the value of the residential property exceeds €500.000 then excess amount can be calculated and included in the whole investment
• Family members, who apply separately as investors for the scheme, can collectively acquire one residence as long as its value covers the amount of €500.000 per each applicant
• The total amount of investment in housing units that have already been used under the CIP including the privately owned permanent residence, shall be at least €2.500.000
• Applicants who applied for the acquisition of citizenship in any other Member State of the EU and has been rejected, will not be entitled to acquire the Cypriot Citizenship within the framework of the CIP