Cyprus Citizenship Program

There have been several updates to the existing Cyprus Investment Program. The Council of Ministers revised the existing program on 13 September 2016, enabling foreign nationals to gain citizenship if they meet certain criteria set out by the Council of Ministers. When you acquire citizenship under the Cyprus Investment Program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent.

Cyprus has been a full member of the EU since 2004. The island is in the southeastern Mediterranean Sea, at the crossroads of Europe, Asia, and Africa. The strategic location of the island has played an important role in its development as a financial center.

Cyprus, with its warm and stable climate and convenient geographical position, is considered an attractive place for residence. The investment landscape in Cyprus is beneficial due to the island’s well-qualified labor force, attractive taxation, and a reliable transport and telecommunications system.

Cyprus has a modern, free-market, service-based economy, with an effective and transparent regulatory and legal framework, giving international investors and businesses confidence to invest, grow and prosper.

Cyprus has a resilient economy and showed continued sustained growth following the last recession. Measures implemented to stimulate the economy has accelerated Cyprus’ GDP growth placing the island amongst the highest accelerating economies in Europe.

Requirements:

The Cyprus Investment Program requires a person to make a significant economic contribution to the country. In exchange, and subject to a stringent vetting and due diligence process, including thorough background checks, the applicants and their families are granted citizenship. To qualify for citizenship, the primary applicant must be over 18 years of age and meet the application requirements under one of the following options:

  1. Real estate, developments and infrastructure projects: the applicant must commit at least EUR 2 million to the purchase or construction of real estate
  2. Purchase, establishment, or participation in Cypriot businesses and companies: the applicant must commit at least EUR 2 million to the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot or EU citizens
  3. Participation in alternative investment funds or the purchase of financial assets of Cypriot enterprises or organizations licensed by the Securities and Exchange Commission: the applicant must purchase units amounting to at least EUR 2 million from alternative investment funds (AIF)
  4. Combination of the above options: the applicant may choose a combination of the above, provided that the total amounts to at least EUR 2 million. The applicant’s combination may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000

Process Timeline:
This process will take up to 6 months* (Estimated timeframe)

Benefits of Cyprus Citizenship Program:

  • There are no restrictions on dual citizenship in Cyprus.
  • The right of free movement; freedom to work and study; and security within the social and legal system EU
  • The whole family of the main applicant benefits from the Cyprus Investment Program
  • Allows visa-free travel to 173 destinations including Canada, Hong Kong, Singapore, and the UK
  • Completion in approximately 180 days
  • A straightforward documentation processes
  • The benefit of investing, not donating your wealth
  • The benefit of investing, not donating your wealth..

 

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