Cyprus EU Passport
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.
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”.
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).
The ongoing large-scale infrastructure projects and the thriving oil and gas sector have cemented Cyprus’ position on the investment map.
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.
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
* EFTA Member States: Iceland, Norway, Liechtenstein and Switzerland
Options & Requirements
* EFTA Member States: Iceland, Norway, Liechtenstein and Switzerland
Investment Options
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.
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.
Note: Financial Assets include bonds, bills and securities issued by companies that have demonstrated physical presence and substantial economic activity in Cyprus.
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: