Cyprus Citizenship by Investment and Permanent ResidenceEU Citizenship €2.0 million. Permanent Residency €300,000.
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 Established the “Cyprus Investment Programme”.
On the 13.2.2019 the Council of Ministers purposing, to ameliorate the “Cyprus Investment Programme”, introduced 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”. Below you may find information on all the provisions of the “Cyprus Investment Programme”.
These information covers application procedures on the basis of the “Programme”, the requested documents and the processing of the application. The information is in Greek and English and concern both the investor and his or her family members.Should there be any discrepancies in the English translation of the text compared to the original Greek text, the Greek text shall prevail.
Finally, your attention is drawn to the fact that the Council of Ministers 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. Information concerning the terms and condition sand the application for the inclusion in the “Registry” can be located on the website of the Committee for Supervision and Control and you may find its link above. Furthermore, it is noted that the “Registry” is posted on the website of the Committee for Supervision and Control.
Applicants can secure permanent residency in Cyprus through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires investment of just €300,000 into property to gain the Cyprus residency permit.
The residency visa is granted within two months and covers the whole family. It includes parents of both the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse.
The permanent residency programme offers ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years.
The investment may be made by a company for which the main applicant and spouse are beneficial owners. The investment can be in to a maximum of two properties provided they reach the €300,000 permanent residency limit. The properties purchased must be brand new.
Citizenship by Investment Cyprus
Cyprus offers the quickest, most assured route to European citizenship and a second passport through the Cypriot citizenship by investment programme. An investment of €2.0 million in real estate is required. Cyprus is unique in its offering of citizenship within just 6 months of such an investment. This grants a Cypriot passport and EU citizenship, allowing the freedom to work, travel, study and live anywhere within the EU including countries such as Germany, France and the UK. The investment can be reduced down after 3 years to just €500,000.
Cyprus has a very favourable tax regime for individuals and companies. Over 80% of the country speaks English and there are excellent education facilities including several UK universities with campuses on the island. Cyprus has the lowest crime rate in Europe and is the 5th safest country in the world. There is a high standard of educational institutions and healthcare facilities. Cyprus is strategically located at the crossroads of three continents, Europe, Asia and Africa. Cyprus is set to join the EU Schengen zone soon. Property acquired is freehold, there is a low property tax and there is reduced VAT on property of just 5% (subject to conditions).