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.
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.
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
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.
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.
– 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.
– 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 by Investment
Benefits of Cyprus Permanent Residency
The requirements and qualifications required to obtain Cyprus citizenship and Residency include the following:
To obtain Citizenship by Investment in Cyprus, you must:
To obtain Permanent Residence Card, the investment requirements are much lower:
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.
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.
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.
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:
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!
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.
European Economic Area is restricted.
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.