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Cyprus has been a member of the European Union since 2004. Since 2008 Cyprus has been in the Euro Zone. Geographically Cyprus has a strategic location between Europe, Middle East, Africa and Asia, thereby giving preferential and easy access to businesses to four continents. Cyprus also has a favourable tax regime for new residents, particularly hight net worth individuals. With at least 320 days of sunshine a year, Cyprus was classified the sunniest European location. Also noteworthy,
are recent studies conducted by global immigration experts, ranking the Cyprus Investment Programme among the “top ten best in the world”.
Cyprus Investment Programme is available to investors in Cyprus by Exception pursuant to the Decision of the Council of Ministers dated 13th September 2016 issued as per Article 111A(2) of the Civil Registry Law 2002-2013, of the Republic of Cyprus. These recent revisions have made the Cyprus Investment Programme more beneficial for investors and families. In virtue of this Law, the Cyprus Council of Ministers may grant citizenship by naturalisation to foreign entrepreneurs. Additionally, the Law provides for the granting of the Cypriot citizenship by investment to the spouse, children as well as parents of the investor. Additionally, the Law provides for the granting of the Cypriot citizenship to the spouse, children as well as parents of the investor.
BENEFITS OF CYPRUS INVESTMENT PROGRAMME
6 Months Process;
All Family Members Included
Dual Citizenship Allowed
Residency Permit Issued within 5 days of Application
Valid for Life
Citizenship Transferrable to Descendents
ELIGIBILITY FOR CYPRUS INVESTMENT PROGRAMME
To qualify under the regulations, the main applicant for citizenship must be at least 18 years of age and must meet the requirements outlined in this factsheet.
DEPENDANTS AND PARENTS ARE ELIGIBLE
The main applicant may also add dependents to a citizenship application including his/her spouse and
children, as well as parents to benefit under the Cyprus Investment Programme. “Children” includes those up to the age of 18 and children from the ages of 18-28 if they are financially dependent on the main applicant. Additionally, an investors’ child with severe physical or mental disability that makes him or her unable to work is also considered as financially dependent. Parents of the main applicant may be included in the same application provided an additional €500,000 investment is made in residential property in Cyprus.
- Purchase main residence; € 500,000
- The Applicant is required to pay a non-refundable
contribution to the Research and Innovation Foundation
and to the Cyprus Land Development Agency of €200,000.
- Invest a minimum of €1.5m in residential property
or €2m in other investment options. Investment in
property can be reduced to a minimum of €500,000,
(plus VAT, if applicable), after 3 years
- These include investments in financial assets of
Cypriot companies/ organizations, investment in
Alternative Investment Funds or financial assets of
Cypriot companies licensed by the Cyprus Securities
and Exchange Commission (CySec) or a combination
amounting to €2m
- Clean criminal conduct
- Investor’s name must not be included on the list of persons
whose property is ordered to be frozen by the EU