Citizenship and Residency
Cyprus Investment Programme
As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus the Council of Ministers, on the 13th of September 2016, revised the “Cyprus Investment Programme” and, thus, established the new criteria and terms based on which non–Cypriot entrepreneurs/ investors and members of their families may submit applications in accordance with the provisions of the “Programme”.
Moreover, the Council of Ministers, as a part of its efforts for the further improvement of the “Cyprus Investment Programme” on the 9.1.2018 and 21.5.2018 decided the establishment of the Committee for Supervision and Control as well as of the “Registry of Service Providers for the Cyprus Investment Programme.” According to these resolutions from the 1.8.2018 and onwards applications will only be able to be submitted by Service Providers that are included in the «Registry» on the basis of an improved procedure.
Eligibility Criteria under the CIP are as follows:
- Main applicant and spouse i.e. husband and wife.
- Children up to and including the age of 17.
- “Adult children” between the ages of 18 to 28
i. Provided their application is reviewed by Council of Ministers prior to their 29th birthday; and
ii. Provided they are students studying towards either a first university degree, or a first master’s degree. Parents of the main applicant, provided an additional investment of minimum €500,000 (plus VAT), be made in residential property
- There is no requirement to make a donation to the local government in contract to many other citizenship programmes.
- Cyprus does not require applicants to live on the island prior, during or after the application process, unlike all other EU countries with citizenship programmes that impose some form of residency requirements.
- Application process takes approximately 6 months.
- Simple and straightforward application process and no language requirements
- Approved by the EU (being one of only two CBI programmes in Europe with official EU approval).
Cypriot Citizenship and Permanent Residence Permit
Acquiring Cypriot Citizenship by Exception
A non-Cypriot citizen will be eligible to obtain Cypriot citizenship if one of the following criteria is met:
- Investment in government bonds
- Investments in financial assets of Cypriot companies or organisations
- Investment in real estate, land development and infrastructure projects
- Purchase or creation or participation in Cypriot businesses or companies
- Deposits in Cypriot Banks
- Combination of the aforementioned criteria 1 to 5
The applicant is required to have a combination of the above criteria amounting to at least €2 million.
Additional condition & requirements
The applicant must own a permanent private residence in Cyprus, with a market value of at least € 500.000 ( five thousand euro) plus VAT.