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Cyprus EU Passport

Offered in accordance with the Civil Registry Laws 2002 – 2013, the Naturalization of Investors by Exception Scheme allows third country nationals and non-Cypriot high net worth individuals, along with their families, to acquire Cypriot citizenship.

Cypriot passport holders are, by extension, EU citizens, which makes them eligible to enter, reside, study and work in the EU. Passport holders are not required to permanently reside in Cyprus, thus they are not a tax resident. The scheme is also one of the fastest to lead to residence and citizenship in Europe.

The program requires a minimum amount of €2 million to be invested in Cyprus over a period of 3 years. Citizenship is granted within 6 months from the day of application submission.

The program has already attracted over €4 billion of direct investments into the economy of the Republic of Cyprus.

Continue reading the next sections or simply download our Citizenship by Investment brochure.

Why Cyprus?

Cyprus is a modern, cosmopolitan business hub, strategically located at the crossroads of three major continents: Europe, Africa and Asia. As such, the small island has become a fundamental financial center, and a gateway for conducting business between east and west, where opportunities for investment across a wide range of sectors flourish. Cyprus also boasts a rich heritage and diverse culture, as well as some of the most beautiful natural habitats in the world.

There are several reasons to choose to invest in Cyprus

Investment Hotspot

Cyprus’ economy is expected to continue its cyclical upswing. In 2018, its global performance and appeal have been internationally recognized as a “Foreign Direct Investment (FDI) superstar”.

Competitive Tax Regimes

Cyprus is a highly reputable and reliable international business center with a sophisticated infrastructure. It entices investors with one of the lowest corporate income tax rates in Europe (12.5%), advantageous Double Tax Treaties (DTTs) with 64 partner countries and instant company registration (1 to 3 days only).

Emerging Regional Player

The ongoing large-scale infrastructure projects and the thriving oil and gas sector have cemented Cyprus’ position on the investment map.

Thriving Real Estate Market

Cyprus has always formed an enticing prospect for property buyers. Beyond its many business advantages and high quality of life, the Cyprus Real Estate Market is robust and healthy, with a projection that this upwards trend will continue for the foreseeable future.

Promising Future

Cyprus is repeatedly ranked as one of the 10 largest merchant fleets in the world and with new large- scale real estate projects, luxury marinas and its record-breaking tourism tracks, as well as exciting new opportunities in the energy sector collectively contribute to Cyprus’ appeal as an interesting investment location.

Benefits

  • Short 6-month timeframe to acquire an EU passport, the shortest in the EU.
  • Dual Citizenship is permitted.
  • No requirement to reside in Cyprus.
  • EU Citizenship is applicable for the entire family.
  • EU Citizenship can be passed to all future generations by descent.
  • Ability to sell your property after 3 years.
  • Investors and their families can freely reside, work, study, and conduct business in any of the EU and European
    Free Trade Association (EFTA)* member states.
  • Unrestricted movement of goods, services and capital within the EU and EFTA.
  • Advantageous tax regimes, including a comprehensive double tax treaty network, highly favourable corporate tax
    structure, and no inheritance tax.
  • Ability to benefit from excellent EU health systems, pension programs, reputable schools and universities.
  • Legal system based on English common law.
  • No history and language proficiency tests.

* EFTA Member States: Iceland, Norway, Liechtenstein and Switzerland

Options & Requirements

Requirements for Investors:

  • Investors and their families can freely reside, work, study, and conduct business in any of the EU and European Free Trade Association (EFTA)* member states.
  • Unrestricted movement of goods, services and capital within the EU and EFTA.
  • Advantageous tax regimes, including a comprehensive double tax treaty network, highly favourable corporate tax structure, and no inheritance tax.
  • Ability to benefit from excellent EU health systems, pension programs, reputable schools and universities.
  • Legal system based on English common law.
  • No history and language proficiency tests.

* EFTA Member States: Iceland, Norway, Liechtenstein and Switzerland

Investment Options

  • Investment in real estate, land development and infrastructure projects.
    An investment of at least €2 million for the purchase of a residential property or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects.

    Note: Investing in housing unit/units, the purchase of another permanent residence in Cyprus will not be required, if at least one of these units is worth at least €500,000 plus applicable VAT.

  • Investment in financial assets of Cypriot companies or Businesses.
    Investment in the purchase or participation in companies or organizations established and operating in the Republic of Cyprus with investment costs of at least €2 million.

    Note: the companies must have physical presence in Cyprus, with significant activity and turnover, and must employ at least five (5) Cypriot or European citizens.

  • Investment in Alternative Investment Funds (AIFS) or financial assets of Cypriot companies or Cypriot organizations that are licensed by Cyprus Securities and Exchange Commission (CySec)
    Investment of at least €2 million from AIFs or financial assets established, licensed and supervised in Cyprus by CySec.

    Note: Financial Assets include bonds, bills and securities issued by companies that have demonstrated physical presence and substantial economic activity in Cyprus.

  • Combination of the aforementioned investments.
    A combination of the above investments, provided that the total investment amounts to at least €2 million.

    Note: With this option, the applicant may purchase special government bonds of the Republic of Cyprus valued up to €500,000, on the condition that the investor will retain these bonds for a period of three years.

Important: *The most cost-effective investment scenario is the acquisition of residential properties at a total value of €2 million, as this eliminates the need to buy a residential property worth €500,000. For investments in commercial properties or other options as outlined above, the applicant is required to purchase a permanent residential property, worth €500,000, in addition to the initial investment of €2 million.

* Notice: You can sell your properties provided that you keep privately owned residential property which you purchased for a minimum of €500,000.

Comparison table

Cyprus Malta Latvia UK Spain St Kitts & Nevis
Results EU citizen EU citizen EU Residency for 5 years; citizenship after 6 years + exams EU Residency for 5 years; citizenship after 6 years + exams EU Residency for 5 years St Kitts & Nevis Citizenship
Time to obtain citizenship 6 months 12-14 months 6 years 6 years 10 years 4-6 months
Currency EUR EUR EUR GBP EUR USD
Amount of investment 2,000,000 500,000 or 150,000 plus rent for 5 years 250,000 2,000,000 500,00 400,000
Donation 650,000 plus extra per family member Optional
Investment duration 3 years 5 years 5 years 5 years 5 years 5 years
Assets Bonds or securities of the Cyprus companies or Real Estate or Business or Deposit Bonds and Real Estate Real Estate Bonds or securities of the UK companies and Real Estate or Deposit Bonds or Real Estate or Business Donation or Real Estate
Physical residence No 6-12 months No Not absent more than 450 days of the first 5 years and 90 days the 6th No No
Dual citizenship Yes Yes No Yes No Yes
Visa free travel, residence and work in EU Unlimited Unlimited Free travel in Schengen countries and residence in Latvia, no work permission Residence in the UK, no work permission Free travel in Schengen countries and residence in Spain, no work permission Free travel in Schengen countries and UK up to 180 days a year, no work permission

Application process

We offer potential investors in Cyprus a variety of options for investing in real estate. These include:

  • Residential Properties worth €2 million, including a permanent residence worth €500,000.
    Total investment: €2 million + VAT
  • Commercial Properties worth €2 million, plus a permanent residential property worth €500,000.
    Total investment: €2.5 million +VAT

The Investment Process with CENTURY 21

  1. Contact us today on Freephone 8000 8400 or via our website at c21cy.com with a request about the procedure for investing in property to obtain EU Citizenship.
  2. Our team of experienced professionals will take the time to understand your requirements, and present to you a number of suitable property options for investment, as well as offer advice and guidance to help you make the right choice for you..
  3. Once the investment has been purchased, we help with the preparation of all the documentation necessary for the citizenship application process.
  4. Once pre-approval has been granted, our team of experts are on hand to help submit the application to the Cyprus Government.
  5. Within 6 months, citizenship is granted.