Cyprus Passport

Cyprus Passport

Scheme for Naturalization of

Non-Cypriot investors by exception

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 Republic of Cyprus’ Council of Ministers, on the 13th of September 2016, 9 January 2018 and 21st May 2018, further revised the “Scheme for Naturalization of non-Cypriot investors by exception” and, thus, established the new criteria and terms based on which non–Cypriot entrepreneurs/ investors may acquire the Cypriot citizenship.

Requirements

Option #1 Residential Real Estate Investment

This option requires a minimum total investment amount of EUR 2,0 million in residential real estate.
The total investment amount must include a permanent personal residence valued at no less than EUR 500,000. The remaining investment amount of EUR 1.5 million must be made in residential real estate, to be held for a minimum of three years. If the personal residence is valued at EUR 2,0 million or more, then no additional investment is required.

Option #2 Other Investments

This option requires a minimum total investment of EUR 2,5 million.
Part of the investment must be a personal residence purchased for at least EUR 500,000.
The remaining investment amount of EUR 2,0 million can be made using a mix of the following, held for at least three years:

a) Eligible Real Estate, such as residential, commercial, infrastructure or developed land, or
b) Interest-bearing Cyprus Government Bonds (up to a maximum value of EUR 500,000), or
c) Alternative Investment Fund (AIF) or financial assets of a Cyprus entity licensed by the Cyprus Securities and Exchange Commission, or
d) Company formation or acquisition or participation where the applicant is a majority shareholder, with activities in Cyprus, and employing 5 Cypriot or EU nationals who have been residing in Cyprus for over five years, or
e) a combination of any of the above.

Enter the

Cyprus Property Market

Created by the owners of Berlin Estates (www.berlinestates.co) and UK Estates (www.ukestates.co), Cyprus Estates offers to prospective investors looking to enter the Cyprus property market, a bespoke “One-Stop-Shop” service with the international expertise acquired over many years of offering this service in the markets of Germany and the UK.

The main advantages of the

Cyprus passport program

The investment asset is allowed to be sold after an initial 3-year holding period, and a property worth € 500,000 Euros should remain under his/her ownership as a residential property.
The process of acquiring a passport takes less time than in other European countries: it is possible to formalize the citizenship of Cyprus through investments in a period of just six months.
The minimum investment for the whole family is €2 million plus VAT (if applicable).
Cyprus legislation allows dual citizenship.
Citizens of Cyprus (as a full EU Member) can enter universities in different European countries with reduced tuition fees
Investments in Cyprus allows successful applicants to become citizens of the country without having to take any exams on language and history.
Residing in the territory of the country before, during and after acquiring the Cyprus citizenship is optional.
Cyprus passport holders have the right to a visa-free entry into more than 150 countries.
Cyprus citizenship when purchasing real estate or other investments is provided not only to the applicant, but also to his spouse, parents and children (minors and adults under 28, if they are financially dependent).
Citizens of Cyprus have the right to enter, reside, study and work in the EU and other countries of the European Economic Area (Switzerland, Norway, Iceland, Liechtenstein, etc.).
Our associates, one of Cyprus’ largest business consultancy companies, with expertise being among the largest global consultants’ networks can offer the following services to our clients
• Consult on the requirements of the application process
• Advise on questions/issues that need to be clarified
• Assist in drafting relevant required documents
• Assist with the legal overview of purchase agreement and/or of relevant documents
• Assist with the Real Estate due dilligence
• Assist with examining tax implications from the investment
• Review of the application documentation to ensure required quality standards
• Submit the complete application to the authorities on client’s behalf
• Monitor the status of the review by the authorities and debrief the client
• Act as a liaison with authorities during the examination of the application
• Escort the client and his/her dependants to the Civil Registry and Migration Department.

Permanent Residency

In Cyprus

Immigration Permit under regulation (6.2) of the Aliens and Immigration
Regulations, gives you a Non-EU national, the right to permanently reside in
Cyprus

Exempts you from immigration entry procedures (i.e Visitor’s Visa)
Your family can also obtain it (married spouse, children under 18 years old and financially dependent children up to 25 years old)
As of February 2016 the parents of the investor and/or of his/her spouse can also obtain Permanent Residence as dependants
Children over the age of 18 who are not financially depended can also obtain the permit with additional investment.

Requirements

The Permit is granted for an indefinite duration. Applicants must have:

a) Purchased in Cyprus one or two, new real estate properties with total purchase cost of at least €300.000 (excluding VAT). Properties can be 2 residences, or 1 residence & 1 office or 1 residence & 1 shop. At least €200.000 of the purchase cost must be settled.
b) A secure and steady annual income transferred on a regular basis from abroad to a bank operating in Cyprus. The income should derive from sources other than employment in Cyprus.
€200.000 of the purchase cost must be settled.
c) Funds transferred from abroad and deposited in a Bank operating in Cyprus in a 3-year Fixed Deposit Account (minimum 30000 Euros).
d) Main applicant must be at least 18 years old and have a clean criminal record

• Applications are reviewed by the Civil Registry and Migration Department and the Minister of Interior grants final approval
• The processing time is 2 months

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