Cyprus Citizenship Program

About Cyprus

Cyprus is the third largest island in the Mediterranean with a gorgeous coastline, warm climate, and cultural environment. Cyprus is an attractive location for foreign investors because the island nation has a lot of unclaimed property that can be utilized for business development, property development, purchasing, rental and sale purposes. The Government of Cyprus has established many incentives to attract foreign direct investment into the country, the citizenship-by-investment program is one of these incentives. Successful applicants are granted full Cypriot citizenship and the right to live, work and study in all 28 European Union (EU) member countries.

The citizenship-by-investment program in Cyprus is available for investors applying to the Scheme for Naturalization of Investors in Cyprus by Exception based on Section 111A (2) of the Civil Registry Laws of 2002-2013.

The Cyprus Council of Ministers grants citizenship by naturalization to foreign entrepreneurs. The applicant’s spouse, his/her dependent children and financially dependent adult children may also be granted citizenship. According to the amendments made in September 2016, parents of the applicant can be given citizenship status provided that an additional investment in real estate is made.

Benefits of Cyprus Citizenship

  • Having the right to live and work in countries within the European Union (EU).
  • Getting protection by the authorities of any EU country.
  • Having the right to vote and stand in European Parliament elections.
  • Being able to freely move goods, services and capital.
  • Visa-free travel to over 158 countries including the EU and Canada.
  • Transferable citizenship to descendants which means, being able to pass down the citizenship to future generations.
  • Being able to keep your previous nationality as Cyprus allows dual citizenship.
  • Once a joint application for residency and citizenship by investment is submitted, it takes only 5 days for the Cyprus Residence Permit to be issued.
  • No minimum residency requirements before obtaining citizenship.
  • Cyprus has renowned universities that offer tuition-free education to its citizens. These benefits can be extended to other EU universities with similar options.
  • Degrees diplomas or certificates awarded in Cyprus are recognized in all EU countries and vice versa.
  • The public healthcare system, managed by the Ministry of Health and financed by taxes, is free for citizens. Permanent Residents in Cyprus receive a state medical card when they register for social insurance; this card grants them the privilege of getting care and treatment for free or subsidized costs.
  • Obtaining a Cyprus citizenship opens the door to numerous career opportunities. Because Cyprus’ citizens can freely move within the EU nations and get employment without limitations.
  • The right to live, work and study in all 28 EU countries.

Eligibility For Cyprus Citizenship By Investment

  • Invest at least 2 million euro in Cyprus real estate. The applicant must make an investment in the purchase, creation or participation in a business or company in Cyprus.
  • The Investor must have a clean criminal record from his/her country of origin and in case his/her country of residence is different, then he/she should must have a clean record there too.
  • The investor must not be in the list of persons whose property is ordered to be frozen by the European Union (EU).
  • The Investor must 18 years old and above.

Cyprus Residence By Investment Program

Residence By Investment Program

The Residence by Investment Program is a fast-track process to ensuring that an applicant gets his/her approval within 2 months. The residence permit includes the applicant, the applicant’s spouse and his/her dependent children (under 18 years of age).

Requirements For Cyprus Permanent Residence

  • An applicant must invest in a residential property and provide proof of the investment via contract of sale or a receipt of a minimum payment of €200,000. The overall investment should amount to a minimum of €300,000.
  • The Investor must have a clean criminal record from his/her country of origin and in case his/her country of residence is different, then he/she should must have a clean record there too.
  • The investor must not be in the list of persons whose property is ordered to be frozen by the European Union (EU).
  • The Investor must 18 years old and above.

To explore your Citizenship by Investment options and know more about requirements, contact our immigration lawyers today!