Cyprus Citizenship by Investment

Cyprus Citizenship by Investment

The Cypriot Government has established a number of incentives to attract foreign direct investment into the country. One of these is the Cyprus Citizenship by investment scheme that grants full Cypriot citizenship to those that invest more than EUR 2 million in real estate and who meet certain other requirements. Successful applicants gain the right to live, work and study in all 28 EU member countries.

In September 2016 , the Government of Cyprus introduced changes to its citizenship-by-investment program. The changes include the reduction of the minimum investment amount to EUR 2 million (from EUR 2,5 million) and the possibility to include the parents of the main applicant provided that an additional EUR 500,000 + VAT will be invested in the purchase of a private residence in Cyprus.

Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception if they meet one of the investment criteria presented below. The qualification may either be done personally or through a company/companies in which the applicant acts as a shareholder or even as a high-ranking senior manager.

The applicant should make an investment of at least EUR 2 million for the purchase or construction of real estate.
The applicant must make an investment of at least EUR 2 million in 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 citizens.
The applicant should purchase units amounting to at least EUR 2 million from Alternative Investment Funds (AIF). This criterion also covers the purchase of financial assets of Cypriot businesses or organizations for at least EUR 2 million, in the form of bonds, securities and debt securities.
The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million. The applicant’s investment combination may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000.

Another important requirement that applies, regardless of the investment option chosen, is the purchase and life-time possession of a property in Cyprus that will be declared as the applicant’s residence in Cyprus. The purchase price of the particular property should be at least EUR 500,000 plus VAT. In the case that the applicant proceeds with the real estate option, this property can be included in the EUR 2 million investments.

Cyprus Passport

Procedure

The process of obtaining Cypriot citizenship consists of a series of important steps that need to be implemented professionally and carefully. Trust Nationality manages each step and ensures that they are executed correctly and at the right time, since each part of the process, if not properly handled, can affect the final citizenship approval.

Trust Nationality also helps its clients to identify the most suitable investment opportunities, evaluates all possible investments in relation to potential exit strategies, prepares and submits the application for citizenship to the government, follows up with the authorities while the case is being processed, and receives approval and passports for the clients. We also help clients to manage their properties and provide a further, enhanced menu of concierge services.

Time Frame

Following the submission of an application, Trust Nationality receives approval within three months.Permanent residence is issued a few days after the applicant carries out the biometrics. This quick process makes Cyprus one of the fastest destinations in which to obtain a second citizenship.

Performance Guarantee

Even though the procedure for obtaining Cypriot citizenship is relatively straightforward, it is a very delicate process that requires a meticulous level of focus on the detail and structuring of the investment. Trust Nationality and its partners have a wealth of international and local expertise and a high success rate of delivering the grant of citizenship within the three-month time frame.

Benefits of the Cypriot Citizenship By Investment Program:

  • Citizenship of an EU member state
  • The right to live, work, and study in all 28 EU countries
  • The right to security within the European social and legal system
  • Full citizenship and passports are granted to the applicant and included family members
  • Visa-free travel to 158 countries around the world
  • Flexible options with no residence requirement; approval usually within 90 days
  • Qualify by acquiring assets in Cyprus, with no requirement to donate your wealth

Cypriot Citizenship Processing Fees

Applicant Application Submission Fees Certificate Issuance Fee

Investor

 € 2,000 € 5,000

Spouse

€ 2,000 € 5,000

Adult Child

 € 2,000 € 5,000

Minor Child

 € 80 -

Cyprus Citizenship by Investment Application Process

  • An Application for Cyprus Citizenship by Investment and Cyprus Residence Permit is submitted to the Ministry of Interior with original supporting documentation and € 2,000 as government fees.All the documents issued by a foreign authority should be translated either in Greek or in English and be duly authenticated.
  • If the Investor meets the criteria and conditions required, the application is submitted by the Ministry of Interior to the Council of Ministers for approval.
  • The application of the spouse is submitted concurrently with the application of the main applicant. Upon the approval of these applications, the children's application will follow.
  • Once the Cyprus Citizenship by Investment application is approved, the Civil Registry and Migration Department issues the Certificate of Naturalisation, following payment of € 5,000 that constitutes the certificate issuing fee.
  • Provided that such an application is duly submitted and accompanied by all the necessary supporting documents, and the investor meets the criteria and conditions of the decision of the Council of Ministers, the time frame for the completion of the process is approximately 6 months. It should be noted that the application submission date is the date on which the submission fees were paid.
  • The Council of Ministers has complete discretionary power regarding approval of Citizenship Application.
  • Cyprus Residence Permit is issued within 5 days from the submission of a joint application for residency and citizenship by investment.
  • Our fees should be discussed upon request.

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