Cyprus Investment Program

A strong Cyprus development strategy that has been used recently is to attract foreign investment to the island of Cyprus. This strategy has proven to be a perfect tool and a key driver for the economic growth in Cyprus.

Any non-Cypriot citizen who meets all the criteria and accepts the terms and conditions of the Cyprus Investment Program can apply for Cyprus citizenship. Furthermore, the applicant should have made the required investments during the three years preceding the application date and must keep the said investments for at least three years from the date of naturalization.

The applicant can be inspected and after establishing that terms or conditions of the Cyprus Investment Program have been breached, then the granted naturalization may be cancelled.

Applications Criteria

Applicants must qualify for one of the following financial criteria to receive Cyprus Citizenship:

  • Investment in financial assets of a Cypriot company or organisation of at least €2million
  • Investment in the development of land, real estate or infrastructure projects of at least €2million
  • Investment in alternative investment funds or assets of a Cypriot company or organisation that are licenced by the Cyprus Securities and Exchange Commission (CySec) of at least €2million
  • or a combination of the above, which can include investment in government bonds of up to €500,000

 

The applicant’s spouse or partner may apply and acquire a Cypriot citizenship simultaneously if the below criteria are met:

  • Dependent children up to the age of 18 may apply once the main applicant acquires Cyprus Citizenship
  • Children financially dependent on the main applicant have the right to apply for citizenship if they are students up to the age of 28 and children with physical/mental disabilities that prohibits employment
  • The applicant’s parents may apply for Cyprus citizenship after the main applicant has acquired their citizenship provided that they own a residence of at least €500,000 (excl. VAT). The main applicant and parents may acquire residential property with a value of at least €1million

 

The following criteria, terms and conditions also apply:

  • The main applicant has the right to rent the permanent residence in Cyprus
  • The main applicant has the right to sell the permanent residence in Cyprus if another permanent residence will be purchased
  • The investment must be kept for at least three years
  • The applicant must have a clean criminal record

 

Benefits of the Cyprus Investment Program

Applicants receiving their Cyprus Citizenship will have access to the following:

  • Live, work and travel freely within all EU member states
  • Travel visa-free to more than 150 countries
  • Family members like spouse and dependent children can apply
  • It is not necessary to live in Cyprus before or after Cyprus citizenship is granted
  • Dual citizenship is permitted
  • The applicant does not become a tax resident unless 183 days or more are spent in Cyprus
  • The main applicant’s parents are also entitled to Cyprus citizenship providing the criteria above has been met