Cyprus citizenship for investors
13/09/2016
Based on the relevant Council of Ministers’ Decision
Main benefits of the program compared with the similar programs of other EU member states
Freedom of movements in the EU
The citizenship obtains the whole family – husband/wife and all financially dependent children up to the age of 28
An investor can sell their investments 3 years later after citizenship is granted (however they must hold in possession at least €500,000 worth of the residential property)
Investment of €2,000,000 in commercial property and €500,000 in residential property
TOTAL €2,5 M
Investment in Alternative Investment Funds or financial assets of Cypriot companies that are licensed by CySec – €2,000,000 + residential property €500,000.
TOTAL €2,5 M
Combination of the abovementioned investments, including investments in special Government Bonds of the Republic of Cyprus up to €500,000 + residential property €500,000.
TOTAL €2,5 M
The minimum investment amount is €2,000,000 (two million) plus VAT if applicable
A clear criminal record for the applicant and members of his family
Investments must be kept for a period of minimum of 3 years
The investor must own a private residence in Cyprus purchased for at least €500,000. In case main investments are made into residential property, then this criteria is not applicable.
Additional investment in residential property of a minimum €500,000 should be made in case the parents of the main applicant/investor apply for Cyprus citizenship.
Permanent Residence Permit (cat.F)
The standard procedure of permit obtaining
- The Secured annual income of min.€30,000 shall come from legal sources from abroad
- Min. Annual income of the applicant must be € 9, 568.17 and € 4,613.22 additionally for every dependant person
- Time frames for consideration and obtaining permit 8-12 months
- Applicant must own a private residence in Cyprus purchased for any value of property
- Lack of intention to work in Cyprus
Fast-track of permit obtaining
- The secured annual income of min.€30,000 shall come from legal sources from abroad
- Min. Annual income of the applicant must be € 9, 568.17 and € 4,613.22 additionally for every dependant person
- Time frames for consideration and obtaining permit 1-3 months
- Applicant must own a private residence in Cyprus purchased for any min. €300,000 (plus VAT when applicable)
- Deposit of €30,000 in Cyprus bank for a period of a minimum of 3 years
- Lack of intention to work in Cyprus
BENEFITS
Benefits
- Life-long validity without renewal (except the case when the applicant was granted the same permission of the other country, different from the country of his/her nationality)
- It is granted to the applicant, his/her spouse, and their minor children
- Right to entry the Republic of Cyprus and stay as long as needed. No additional visas are required.
Required documents for Permanent Residence Permit:
- Copy of valid passport
- Copy of valid temporary residence permit (if the applicant resides in Cyprus)
- C.V (including academic qualifications)
- Income tax returns for all years (original or true copy), if applies
- Statement of Social Insurance Contributions for the previous year (original or true copy), if applies
- Bank Accounts Statements (original)
- Income declaration from sources other than employment (original documents and affidavit)
- Title of ownership or rental agreement (original or true copy). If the title of ownership has not been obtained yet, the applicant must submit the deed of sale and proof of payment.
- Health Insurance Policy
- Criminal Record Certificate (if the applicant resides abroad, official translation duly validated from his country)
- Marriage Certificate (official translation duly validated)
- Children’s Birth Certificates (official translation duly validated)
- Official declaration as to the confirmation of non-employment of the applicant and his spouse in Cyprus
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