Cyprus Investment Programme
Investing in Cyprus, and its benefits
Cyprus Investment Programme
Cyprus has recently been ranked the 5th best relocation destination in the world by an international lifestyle review (source: 2014 report prepared by Knight Frank, a leading independent, global real estate consultancy firm). Ranked by key business and leisure indicators, Cyprus was the only European country alongside Switzerland to make it into the top five – ahead of London, Madrid and Monaco. Coupled with what most international tax advisors agree is the most favourable onshore personal tax regime in the world, Cyprus provides an attractive destination for investor immigration.
With at least 320 days of sunshine a year, Cyprus was classified the sunniest European location, with recent studies conducted by global immigration experts ranking the Cyprus Investment Programme among the “top ten best in the world”.
On the 28th of March, 2014 the Government of Cyprus announced the changes to the legislation that would
allow foreign investors to become naturalised citizens of Cyprus (EU) by exception in a simplified and a more accessible process.
Being accepted and a successful approved application provides the benefit of 163 visa-free travel destinations, as well as free
movement of goods, services and capital throughout the EU. Upon approval of successful application of investors, Cyprus Investment Programme allows the granting
of rights to the spouse as well as all dependent children
(under 28) of the investor and also parents of the applicant.
Cyprus provides great investment opportunities and is a very well connected business hub in EU and the world. Sunny and warm, it attracts the inhabitants from around the world not only as a resort holiday country, but also as a
country for a potential place for living. In addition, many people want to become citizens of Cyprus and participate in this ever-growing economy
because of low crime rates, democratic prices and small cultural differences. Moreover, now the county is a member state of
the European Union. This means the door to countless opportunities in Cyprus and the European Union.
Cyprus Investment Programme overview
- Application process is expected to complete in 6 months
- EU free movement of goods, services and capital
- Citizen rights are valid for life and transferable to descendants
- Security for your business & family
- Global banking connectivity
- No need to give up your current nationality
Legal Basis
Cyprus Investment Programme is available to investors in Cyprus by Exception pursuant to the Decision of the Council of Ministers dated 13th September 2016 issued as per Article 111A(2) of the Civil Registry Law 2002-2013, of the Republic of Cyprus. These recent revisions have made the Cyprus Investment Programme one of the most beneficial among other programmes. By virtue of this Law, the Cyprus Council of Ministers may grant citizenship by naturalisation to foreign entrepreneurs. Additionally, the Law provides for becoming a Cypriot citizen to the spouse, children as well as parents of the investor if their application is approved. Neither the spouse nor the children are obliged to meet any additional financial criteria.
Benefits of the programme
6 months processing time
Must possess a residency permit in Cyprus for six months
Free movement of Goods, Services, and Capital in the EU
Residency permit issued within 5 days of application
Valid for Life
Citizen rights Transferable to Descendants
Eligibility for Cyprus Investment Programme
To qualify under the regulations, the main applicant for Cyprus Investment Programme must be at least 18 years of age and must meet the requirements outlined below.
Dependants and parents are eligible
The main applicant may also add dependents to a citizenship application including his/her spouse and children, as well as parents to benefit under the Cyprus Investment Programme.
“Children” includes those up to the age of 18 and children from the ages of 18-28 if they are financially dependent on the main applicant. Additionally, an investors’ child with severe physical or mental disability that makes him or her unable to work is also considered as financially dependent. Parents of the main applicant may be included in the same application provided an additional €500,000 investment is made in residential property in Cyprus.
Key Requirements
- Purchase main residence; € 500,000*
- Invest a minimum of €1.5m in residential property or €2m in other eligible investment options. Investment in property can be reduced to a minimum of €500,000 (plus VAT, if applicable), after 5 years
- Other eligible investments include financial assets of Cypriot companies/ organizations, investment in Alternative Investment Funds or financial assets of Cypriot companies licensed by the Cyprus Securities and Exchange Commission (CySec) or a combination amounting to €2m**
- A donation of €75,000 to the Governments Research and Development fund
- A donation of €75,000 to the Land Development Organisation
- Clean criminal conduct
- Investor’s name must not be included on the list of persons whose property is ordered to be frozen by the EU
*Additional fees might be payable such as VAT if the properties purchased are new, as well as stamp duty and buyer's transfer fees. Investors might also be required to pay additional fees requested by Cyprus Land Registry's Estimation office in case the value of purchase is considerably lower than the average price in the area.
**Additional fees might be payable such as VAT, stamp duty, buyer's transfer fees, commercial company setup and structure fees.
Eligibility Requirements
Minimum investment of €1.5 million
Minimum Investment in main residence is €500,000 (Plus VAT if applicable)
Clean character certificate (From Police and World Due Diligence Authority)
1 visit required to obtain biometrics and receive PR permit
The Benefits of becoming a Citizen
Being part of the economy and society of Cyprus is a powerful tool for international tax planning and provides you with extra privacy, travel freedom and very importantly could be a life saver in times of political and global unrest. In general second citizenship and residence programs are most sought by wealthy retirees, business investors, entrepreneurs and self-employed individuals. With many countries in Europe and North America widely accepting dual nationality (USA, Canada, UK, Switzerland), would now be the time to start insuring your future?Give yourself peace of mind
By investing in Cyprus today, you are ensuring that your residency rights remains unaffected by any future changes to the Cyprus Investment Programme. In addition to this, there is no need to adjust to a new country or expose yourself to financial risks, as well as potential social prejudices that can be associated with moving to a new country.
Family security tomorrow, today!
Start creating your legacy by investing in a stable and democratic country. Live happily ever after in some of the happiest places as voted democratic country. Live happily ever after in some of the happiest places as voted for by you. Open up academic possibilities for yourself and your children by gaining access to the world’s best schools, internships, and postgraduate courses.
Endless business opportunities
By being a dual national, you can register companies, real estate and other assets more easily.
Visa free instant travel!
As a dual national, you will be immediately benefiting from instant travel to 163 countries. With more countries being added to the list including Schengen European countries, it’s no wonder that people are turning to dual nationality. What’s more, even if you need a visa the process will much shorter. Amongst the usual benefits you would associate with dual citizenship, some of the other key benefits of investing in Cyprus Investment Programme include:
Visa Free Travel to these Countries (Visa-free and visa-on-arrival countries
- Albania
- Andorra
- Angola
- Antigua and Barbuda
- Argentina
- Armenia
- Australia
- Austria
- Azerbaijan
- Bahamas
- Bahrain
- Bangladesh
- Barbados
- Belarus
- Belgium
- Belize
- Benin
- Bolivia
- Bosnia and Herzegovina
- Botswana
- Brazil
- Brunei
- Bulgaria
- Cambodia
- Canada
- Cape Verde
- Chile
- Colombia
- Comoros
- Costa Rica
- Croatia
- Czech Republic
- Denmark
- Djibouti
- Dominica
- Dominican Republic
- Ecuador
- Egypt
- El Salvador
- Estonia
- Fiji
- Finland
- France
- Gabon
- Gambia
- Georgia
- Germany
- Greece
- Grenada
- Guatemala
- Guinea-Bissau
- Haiti
- Honduras
- Hungary
- Iceland
- India
- Indonesia
- Iran
- Ireland
- Israel
- Italy
- Jamaica
- Japan
- Jordan
- Kazakhstan
- Kenya
- Kiribati
- South Korea
- Kuwait
- Kyrgyzstan
- Laos
- Latvia
- Lebanon
- Lesotho
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Madagascar
- Malawi
- Malaysia
- Maldives
- Marshall Islands
- Mauritania
- Mauritius
- Mexico
- Micronesia
- Moldova
- Monaco
- Montenegro
- Morocco
- Mozambique
- Myanmar
- Nepal
- Netherlands
- New Zealand
- Nicaragua
- Norway
- Oman
- Palau
- Panama
- Papua New Guinea
- Paraguay
- Peru
- Philippines
- Poland
- Portugal
- Qatar
- Romania
- Rwanda
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Samoa
- San Marino
- São Tomé and Príncipe
- Senegal
- Serbia
- Seychelles
- Singapore
- Slovakia
- Slovenia
- Solomon Islands
- Somalia
- South Africa
- Spain
- Sri Lanka
- Swaziland
- Sweden
- Switzerland
- Tajikistan
- Tanzania
- Thailand
- Timor-Leste
- Togo
- Tonga
- Trinidad and Tobago
- Turkey
- Tuvalu
- Uganda
- Ukraine
- United Arab Emirates
- United Kingdom
- Uruguay
- Vanuatu
- Vatican City
- Venezuela
- Zambia
- Zimbabwe
Tax Advantages
Not only does Cyprus have one of the lowest and most favorable tax rates in Europe, it also has many tax exemptions for non-residents. In addition to this Cyprus is a favored business destination for international companies for its strategically geographical location between Europe, Middle East and Africa.
- Purchase main residence; € 500,000
- Invest a minimum of €1.5m in residential property or €2m in other eligible investment options. Investment in property can be reduced to a minimum of €500,000 (plus VAT, if applicable), after 5 years
- Other eligible investments include financial assets of Cypriot companies/ organizations, investment in Alternative Investment Funds or financial assets of Cypriot companies licensed by the Cyprus Securities and Exchange Commission (CySec) or a combination amounting to €2m
- Clean criminal conduct
- Investor’s name must not be included on the list of persons whose property is ordered to be frozen by the EU
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