Cyprus is considered the sunniest European place with at least 330 days of sunshine a year. Cyprus is the country of choice for millions of tourists every year, all attracted by the rich and diversified culture, exciting coastline and the mild Mediterranean climate.
Cyprus is dynamic with a vast number of investment opportunities and a Member of the European Union. Its strategic geographical location is optimal for business and traveling between the EU and the Middle East and provides direct access to the Mediterranean Sea.
HOW TO OBTAIN A CYPRUS CITIZENSHIP
The Cyprus Investment Program offered in accordance with subsection (2) of section 111A of the Civil Registry Laws 2002 – 2019 as amended, provides the following:
In order for the Applicants to qualify for the Cyprus Investment Program, in addition to the financial criteria below the Applicant must meet the following requirements:
- Have a valid passport
- Have a Clean Criminal Record
- Have a Valid Schengen Visa (where applicable)
- Possess a residency permit in the Republic of Cyprus for a period of six months before granted the citizenship
- Own a permanent private residence in Cyprus with a purchase price of at least €500,000 plus applicable VAT
The Applicant must fulfill the financial criterion of donation and any one of the investment options:
A 1. Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation
(a) The applicant must donate €100.000 to the Research and Innovation Foundation or The Industry and Technology Service or The Fund for Renewable Energy Sources and Conservation of Energy or the National Solidarity Fund.
(b) The applicant must donate at least €100.000 to the Cyprus Land Development Corporation.
B 1. Investment in Real Estate, Land Development, and Infrastructure Projects
The Applicant has to make an investment of €2 million for the purchase of the construction of an immovable property (commercial or residential). The investment made in such immovable property must have prospects and plans for development.
Note that is it no longer permissible for the main applicant to conduct his/her investment through the establishment of a Cyprus real estate development company.
B 2. Purchase or Establishment or Participation in Cypriot Companies or Businesses
The Applicant must make an investment of €2 million in the purchase, incorporation, participation in business or companies that are based and operating in Cyprus. The companies should employ at least nine Cypriot or European citizens and must have a physical location in Cyprus.
B 3. Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Organizations
The Applicant must make an investment in units of at least €2 million in Alternative Investment Funds or Registered Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by Cyprus Securities and Exchange Commission. It is permitted for these AIFs or RAIFs to invest in secondary market stock-market values of the Cyprus Stock Exchange an amount that does not exceed €200,000.
B 4. Combination Investment
The Applicant may combine investments. The total investment must be at least €2 million.
The Applicant has to make necessary investments during the three years preceding the date of the application and must keep the said investments for a period of five years as from the date of naturalization.
The above is for informative purposes only. Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.