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cyprus

Cyprus

Passport rank
16
Visa-free countries
178
Residency
Yes
Citizenship
Yes

Acquisition: 2-4 months

Capital required: €300,000

Acquisition: 60-84 months

Capital required: €2,000,000

About Cyprus Citizenship and Residency

Cyprus offers Citizenship by investment and Cyprus Permanent Residence Program. The Cyprus Citizenship by Investment program is the most assured route to gaining a European passport through investment in Real Estate. 

Investment options available to acquire the citizenship and passport of Cyprus. 

These investments can be made either personally, by a spouse or jointly with a spouse, or through a company where the investor is a shareholder or a high-ranking senior manager.

Donations

In addition to the prescribed investment options below, applicants must donate €200,000, as follows:

– Donation to the Cyprus Research and Innovation Foundation or the Industry and Technology Service; or the Fund for Renewable Energy Sources and Conservation of Energy; or the National Solidarity Fund. – not less than EUR 100,000

– Donation to the Cyprus Land Development Corporation – EUR 100,000

  • Investment in Real Estate, Land Development, and Infrastructure Projects

To obtain Cyprus Citizenship by investment, the Government requires the main applicant to make an investment of at least EUR 2 million in the purchase or construction of buildings, land development, or other infrastructure projects. Land developments can be commercial or residential, or developments in the tourism sector.

  • Investment in a Cyprus company or business

Applicants may qualify for Cyprus citizenship through purchase, setup, or participation in a Cyprus-based company or organization for a minimum amount of EUR 2 million.

Requirements for a Cypriot company/ organisation:

– Physical presence, substantial activity and operation in Cyprus.

– Must employ at least 5 Cypriot or EU nationals.

– Employees need to have legally and continuously resided in Cyprus for 5 years preceding the application.

– Investment objectives of the company/ organisation must be only in Cyprus and based on a specific investment plan.

  • Investment in financial assets and alternative investment funds

– Applicants may be able to obtain a Cyprus passport by investing at least EUR 2 million in alternative funds or financial assets of Cyprus companies/organizations. Financial assets include bonds, bills, and securities issued by a company or organization physically present and active in Cyprus.

– The investment must be maintained for at least 5 years, which must be supported annually by auditor’s reports.

  • Combination of Investments

– Applicants are allowed to make a combined investment of the above options provided the total amount comes to not less than EUR 2 million.

– This option also allows investors to buy special government bonds of the Republic of Cyprus for up to EUR 500,000, to be held for at least 5 years.

Benefits Of Cyprus Citizenship and Residency By Investment Program

Benefits of Cyprus Citizenship by Investment

  • You can live, work, and study anywhere within the European Union.
  • You do not need to pass a language proficiency test or enter an interview.
  • You do not need to spend time living in Cyprus before applying for citizenship, but you have to hold a residence permit for six months before the application is finished.
  • Your spouse and children up to 18 years of age will also receive citizenship, which can be passed down to future generations. If you have adult children who are still students and thus dependent on you, you can also include them on the application as well. They must not be older than 28 and unmarried.
  • You can include your parents and the parents of your spouse if you invest another EUR 500,000.
  • You can rent out your purchased properties.
  • After five years, you can reduce your investment to EUR 500,000, which you must keep for life. this means you can sell your initial properties.
  • You can make the payment through a company or foundation you have a relation to.
  • Dual citizenship is allowed

Eligibility

  • the Main applicant should be at least 18 years of age.
  • All applicants must be in good health.
  • Clean criminal and immigration records.
  • Possession or purchase of a permanent residence in Cyprus for at least EUR 500,000. This home must be retained for life. This purchase can be included in the EUR 2million required investment under any option.
  • Residence or immigration permit in Cyprus.
  • Personal visit to Cyprus.
  • Due diligence checks.
  • 6-month residency requirement.

Benefits of Cyprus Permanent Residency 

  • Dependents included, spouse and children under 25
  • EU member
  • Right to live and study in Cyprus
  • Cyprus Permanent resident may be granted Multiple-Entry Schengen visa valid for up to 5 years
  • Pathway to obtaining Cyprus citizenship after 7 years of residence in Cyprus
  • No language requirements
  • No education or management experience required
  • It is not necessary to reside in Cyprus, but a visit once every two years is required

Cyprus Citizenship and Residency Requirements And Qualifications

The requirements and qualifications required to obtain Cyprus citizenship and Residency  include the following:

To obtain Citizenship by Investment in Cyprus, you must:

  • Purchase real estate worth at least EUR 2 million (excluding VAT). It can be a single property or several properties which jointly amount to up to EUR 2 million. If you want to include your parents or your spouse parents, you must invest an additional EUR 500,000 into your property purchase.
  • Make a EUR 100,000 donation to the Cyprus Government Research and Development Fund and another EUR 100,000 donation to the Cyprus Land Development Organization. In total, the entire investment must be EUR 2.2 million.
  • Have clear criminal records.
  • Commit to the investment before applying.
  • Transfer the money for the investment from abroad.
  • Have the necessary documents required for the application (property purchase documents, proof of available and legal funds, police records, etc.)

To obtain Permanent Residence Card, the investment requirements are much lower:

  • You must purchase real estate property worth at least EUR 300,000.
  • You must make a EUR 30,000 deposit into a bank in Cyprus. The money will be kept for three years.
  • You must prove you have an annual income of at least EUR 30,000 for yourself, and another EUR 5,000 for every dependent (spouse and children).
  • If you will include your parents or your spouse parents, you must have an additional EUR 8,000 on your income.
  • You must have no history of criminal records.

Steps And Timeline

  • STEP #1: Choosing the investment options
  • STEP #2: Visit Cyprus to view properties and evaluate investment options
  • STEP #3: Sign a contract of sale and submit biometrics
  • STEP #4: Prepare and submit Citizenship Application
  • STEP #5: Receive an application approval
  • STEP #6: Acquire a Cyprus passport in 180 days

Investing in Cyprus brings you not only a high-quality property investment but also a much coveted European passport.

The next step is carefully selecting the most suitable properties for you and arranging direct viewings in Cyprus. While you are in Cyprus, and after selecting the property, you’ll be required to sign a contract of sale and provide biometrics at the Civil Registry and Migration Department (CRMD).

Your documents will be evaluated with due diligence and submit your citizenship application to the Ministry of Interior, for preliminary approval. Once you receive an application approval from the Ministry of Interior, the procedure for the acquisition of Cyprus citizenship will be concluded, following the completion of a 6 month period holding the residence permit.

In just approximately 180 days, you can become a Cyprus citizen and enjoy all the freedoms that EU citizenship offers.

Residency

The Cyprus Permanent Residence Program offers eligible individuals and their families the opportunity to reside indefinitely in Cyprus in exchange for an investment of at least EUR 300,000. To qualify for residency, the primary applicant must be over 18 years old, of good character, without a criminal record, and invest in one of the qualifying investment options.

Investment Options

  1. Residential Properties – Purchasing up to 2 residential properties providing that the total value exceeds EUR 300,000 + VAT (19%)
  2. Residential and Commercial Properties – Purchasing a residential property plus a commercial unit space up to 250 sqm providing that the total value exceeds EUR 300,000 + VAT (19%)

Steps on Cyprus Permanent Residency

STEP #1: Make the Investment

STEP #2: Submit your Application for Residence

STEP #3: Obtain your Permanent Residence Permit 

You will need to decide what sort of real estate to invest in, visit Cyprus to view properties. Once all of the documents is submitted to the Civil Registry and Migration Department (and a fee of EUR 500 is paid), it will take up to two months for your application to be processed.

You’ll then be approved for residence in Cyprus; you’ll be issued with a residence permit that will make it possible for you to enter Cyprus.

Our Services

Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:

  • Find the best solution for your needs.
  • Identify and deploy a strategy to help you accomplish your goals.
  • Activate our network of people in the country where you need help without having you search for the best solution or lawyer. We only work with licensed people in every country whom we carefully vet and pass our guidelines and principles of privacy we stand for.
  • Focus on cutting through the red tape and to expedite your process.
  • Provide proper communication with you about your case.
    …. and above all: Offer you legal strategies to provide additional layers of privacy for your identity, while obtaining your residency or citizenship!

Privacy World can also help you with incorporating your company in Cyprus, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.

Want Privacy World to handle your case? Have any questions? Contact us!

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FAQ’s

Dual citizenship is recognized and there are no laws in Cyprus prohibiting being a citizen of other jurisdictions.

Yes, you can include your spouse, children up to 18 years of age, and adult children that are still dependent on you, but not above 28 years old. Your parents and your spouse parents.

The country’s residence by investment program is often called a fast-track program because it takes just 2-4 months to obtain your residence in the country. 

Yes, after you’ve officially been a resident of Cyprus for a minimum of 7 years, you’ll become eligible to apply for Cyprus citizenship. Note that you will have to physically reside in Cyprus for at least 365 days preceding your application being lodged, thus becoming a tax citizen in the country.

Both citizenship and residency by investment in Cyprus do not require passing language proficiency tests.

There is no interview required.

A non-tax resident individual is subject to income tax on income accruing or arising only from sources within Cyprus and is exempt from tax on dividend and interest income.

Cyprus tax residents are liable to income tax on their worldwide income, but the first EUR 19,500 is tax-free. Interest and dividends are liable to ”defense contributions” instead of income tax but non-Cyprus domiciles are exempt (except for minimal contributions).

There is no inheritance tax in Cyprus.

There is no net worth tax in Cyprus.

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