Facts About Country
Situated in the Mediterranean, Cyprus boasts a rich and diverse culture, mild Mediterranean climate and a safe and stable setting ideal for raising families. The country is well placed in the middle of Europe, Africa, and Asia. Due to a recent recession, the economy has been rapidly recovering with increased activity in shipping, tourism, and the legal and financial services sector. Property and investment values have also seen a recent rise.
Advantages of Citizenship
-Fast procedure (6 months)
-Simultaneous submission of residency and citizenship applications
-No language requirements.
-Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
-Civil unions eligible to submit applications.
-No obligation to relinquish current nationality.
-Low tax rates and free trade within the EU.
-Unrestricted right to live, work and study in Europe.
-Right to own property in an EU member state.
-Strategic geographical location forming a bridge between the EU, Middle East and North Africa with direct access to the Mediterranean Sea.
-Safest country in the world with a population under 5 million.
-Excellent education system as well as first-rate health care.
-An outstanding holiday destination.
-Possess a valid passport
-Hold no criminal record.
-Holds a valid Schengen Visa
-Has no rejection from any other member-state of the EU.
-The main applicant’s property is not frozen within the boundaries of the EU.
-Possess a residency permit in the Republic of Cyprus, for a period of six months before being granted citizenship.
-Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT.
-In the case that one chooses to invest in residential properties only and one of the residential properties is priced at at least €500,000, then the total investment amount must be €2 million.
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Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation:
-The applicant may donate at least €75,000 to the Research and Innovation Foundation.
-The applicant may donate at least €75,000 to the Cyprus Land Development Corporation for the financing of housing schemes for affordable housing, but also for the materialization of other housing schemes/measures.
Investment in Real Estate, Land Development, and Infrastructure Projects:
-Applicants may invest at least €2,0 million for the purchase or construction of buildings or for the construction of other land development projects including residential or commercial developments, developments in the tourism sector, or other infrastructure projects.
Purchase or Establishment or Participation in Cypriot Companies or Businesses:
-Applicants may invest at least €2,0 million for the purchase or participation in companies or organizations established and operating in the Republic of Cyprus. Proof of physical presence in Cyprus is required, with employment of at least 5 (five) Cypriot citizens, or citizens of any EU member state.
Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Organizations:
-Applicants may invest in units of at least €2,0 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 the €200,000.
-Estimated time: 6-8 months