Cyprus Investment Programme
The Cyprus Investment Programme is the fastest route to acquire residence and citizenship in Europe, through a simple and efficient process and without any residency requirements. A Cypriot Passport, grants beneficiaries the right to live, work and study in all the European states, along with freedom to access more than 180 countries visa free. Furthermore, the entire family is eligible to apply including spouse, children, adult dependents up to 28 years old and parents of the main applicant. Also, Cyprus has a favourable tax regime and after five years of citizenship, investors may significantly reduce their property investment from around €2 million to €500,000.
Investment under the Cyprus Investment Programme mainly revolves around property acquisition. There is a plethora of investment options, whereby one may invest in one or more residential real estate properties amounting to a total of €2 million. Alternatively, one may combine a residential real estate (€500,000 minimum) with various other commercial investment options (totalling to at least €2 million). Furthermore, either option involves a non-refundable government donation of €150,000. Applicants must maintain their investments for a minimum period of five years, after which they can sell their assets, given that they keep a property for personal residence at the value of at least €500,000. Such personal residence is to be kept for as long as the investor maintains Cypriot citizenship.
Procedure & Timeline
- Engagement of appointed firm
- Residency file preparation
- Investment route chosen
- Payment of investments in full
- Submission of residency file and biometrics
- Preparation of citizenship file
Residency permit is issued
Submission & payment of fees
Citizenship Application is reviewed by the local authorities
In Principle Approval is issued
Oath of Allegiance is taken and naturalisation certificate is issued
Naturalisation certificate is issued