CYPRUS CITIZENSHIP FOR INVESTORS

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CYPRUS CITIZENSHIP FOR INVESTORS

Based on the relevant Council of Ministers’ Decision dated 13/09/2016

Main benefits of the program

comparing with the similar programs of other EU member states

·         Freedom of movements in EU.

 

·         The citizenship obtains the whole family – husband / wife and all financially dependent children up to the age of 28.

 

·         Investor can sell its investments 3 years later after citizenship is granted (however he must hold in possession at least €500,000 worth of residential property).

 

·         Right of EU citizen.

 

Possible investments schemes ·         Investment in residential properties of €2,000,000.

                                                                                                   TOTAL €2M

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OR

·         Investment of €2,000,000 in commercial property and €500,000 in residential property .                             TOTAL €2,5 M

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OR

·         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

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OR     

·         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

Requirements for  investors

 

·         Minimum investment amount is €2,000,000 (two million) plus VAT if applicable

 

·         Clear criminal record for the applicant and members of his family

 

·         Investments must be kept for a period of minimum 3 years

 

·         Investor must own a private residence in Cyprus purchased for at least of €500,000. In case main investments are made into residential property, then this criteria is not applicable.

 

·         Additional investment in residential property of minimum €500,000 should be made in case parents of the main applicant/investor apply for the Cyprus citizenship.

·

Permanent Residence Permit (cat.F)

 

B e n e f i t s

                                                                                

Life-long validity without renewal (except the case when applicant was granted with the same permit 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 it needed. No any additional visas required.

 

Process of permit obtaining

Requirements

 

Standard procedure Fast-track procedure
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 1-3 months
Applicant must own a private residence in Cyprus purchased for  

Any value of property

 

min. €300,000

(plus VAT when applicable)

 

Deposit of €30,000 in Cyprus bank for a period of minimum 3 years

 

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Lack of intention to work in Cyprus  

 

 

 

Required documents for Permanent Residence Permit:

 

  1. Copy of valid passport
  2. Copy of valid temporary residence permit (if the applicant resides in Cyprus)
  3. C.V (including academic qualifications)
  4. Income tax returns for all years (original or true copy), if applies
  5. Statement of Social Insurance Contributions for the previous year (original or true copy), if applies
  6. Bank Accounts Statements (original)
  7. Income declaration from sources other than employment (original documents and affidavit)
  8. 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.
  9. Health Insurance Policy
  10. Criminal Record Certificate (if the applicant resides abroad, official translation duly validated from his country)
  11. Marriage Certificate (official translation duly validated)
  12. Children’s Birth Certificates (official translation duly validated)
  13. Official declaration as to the confirmation of non-employment of the applicant and his spouse in Cyprus