قبرس

The Investment for Cyprus Citizenship can be into two categories:

€2,000,000 investment  in real estate, land development, and infrastructure projects

OR

€2,000,000 investment in the purchase, establishment or participation in businesses or companies, which are based and operated in Cyprus plus the purchase of a residential property of €500.000. A total of €2,500,000 investment.

The Government requires a minimum of €2,000,000 injection into the economy which benefits the growth of the country. Some of the options for the investment would be:

Option 1: €2M investment in real estate, land development and infrastructure projects. If the real estate invested had already been used in the Citizenship for Cyprus before, the investor is required to add an additional €500,000 investment.

Option 2: €2M investment in the purchase, establishment or participation in businesses or companies, which are based and operate in Cyprus employing at least 5 CY/EU citizens.

Option 3: €2M investment in units of Alternative Investment Funds regulated by Cyprus Securities.

* Options 2 & 3 also require an additional Residential property worth minimum €500,000.

Exit Strategy (Maintaining the Investment)
Investors may liquidate their investment upon the lapse of 5 years from the date of the issuance of the certificate of naturalization. Residential property worth minimum €500,000 must be held permanently.

For instance, In the event of €2,000,000 investment into real estate, the investor can sell €1,500,000 of the investment after 5 years and keep the residential property worth €500,000 permanently.

Family and Parent dependents:

Spouse and Minor Children (below age of 18): The spouse and minor children of the investor can submit the application along with the investor and acquire the Citizenship.

Adult Children: The right to apply for Citizenship is also granted to the financially dependent adult children of the Investor after he/she has acquired the Cypriot citizenship. Financially dependent adult children are considered as students up to the age of 28 that are attending an institution of higher education.

Investor’s Parents: The parents of the investor may apply for citizenship after the investor has acquired the Cypriot citizenship. The Parents need to hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000 (plus VAT if applicable).

Simplified Process:

• Investor chooses his Investment in Cyprus
• Completion of Investment & Personal Documents.
• Investor visits Cyprus for filing of the completed Citizenship Application and filing of Residency Card application & Payment of Government fees.
• The Residency card is issued within 1 – 2 weeks from filing.
• It takes up to 6 months for application to be reviewed and processed. After completion of 6 months from the date of issuance of Residency card, the applicant can apply for the naturalization certificate and thereafter apply for a Cypriot Passport.
• Once the Investor acquires the Cypriot Citizenship, the application process for the children and/or parents can start.
• The dependent children below the age of 18 acquire the Citizenship immediately. However, dependent children above age of 18 and dependent parents would acquire the Residency card at this stage and 6 months after completion, they can apply for Citizenship

ADDITIONAL COSTS

Every Application requires a mandatory donation to the following:

• Government Fund for research & development: €75,000
• Cyprus land development corporation: €75,000

Application processing:

• Ministry of Interior Application fees:
  • Main Applicant: €2,000
  • Dependent aged 18 and above: €2,000
  • Dependent aged below 18: €2,000
• Naturalization fee: €5,000 per applicant
• Disbursement fees: €1,000 per applicant
• Legal fees: To be discussed. This may vary depending on number of applicants.

Value Added Tax (VAT) on properties:
Depending on every project, VAT of either 0%, 5% or 19% is applicable to the cost of the investment. If a project does not have a VAT, a transfer fee is paid during issuance of title deed. This may vary depending on the built/type of the projects.

Note: Fees might vary due to changes by Government of Cyprus.

The Documents required for the Cyprus Investment Program is as per the below:

• Main Applicant:
  • Application Form M127 fully completed and signed before a Registrar of a Cypriot court or a consular officer.
  • Certified copy of Birth Certificate.
  • Certified copy of passport.
  • Certificate of Clean Criminal Record from the country of origin and the country of residence (if different).
  • Marriage Certificate (if applicable).
  • Valid SCHENGEN visa (Third-Country nationals that do not require an entry visa for travelling in European Union member-states are excluded from this obligation).
  • Copies of advertisements in a daily newspaper (submitted by the processing lawyer).
  • Two passport size photographs.
  • Curriculum Vitae.
  • Copy of Residence Permit in the Republic of Cyprus (can be produced after completion of investment).
• Spouse & Dependents above age of 18 (including dependent parents):
  • Application Form M127 fully completed and signed before a Registrar of a Cypriot court or a consular officer.
  • Certified copy of Birth Certificate.
  • Certified copy of passport.
  • Certificate of Clean Criminal Record from the country of origin and the country of residence (if different).
  • Marriage Certificate (if applicable).
  • Valid SCHENGEN visa (Third-Country nationals that do not require an entry visa for travelling in European Union member-states are excluded from this obligation).
  • Copies of advertisements in a daily newspaper. (submitted by the processing lawyer).
  • Two passport size photographs.
  • Curriculum Vitae.
  • Copy of Residence Permit in the Republic of Cyprus (can be produced after completion of investment).

• Dependent children aged below 18:
  • Certified copy of Birth Certificate.
  • Certified copy of passport.
  • Two passport size photographs.

* Note: Documents provided must be Certified (or Apostilled) and in English or Greek (or legally translated).