CYPRUS

Citizenship by Investment

An important hub in the heart of the Mediterranean at the crossroads of Europe, Africa and Asia, Cyprus is diverse, culturally rich and perfectly placed for working and traveling within and beyond the European Union. The economy is rapidly recovering from a recent recession through significant activity in the shipping, tourism, legal and financial services sectors, and has also seen a surge in foreign investments and developments, and property and investment values.

WHY CHOOSE CYPRUS?

Cyprus boasts a rich and diverse culture, mild Mediterranean climate, and a safe and stable setting ideal for raising families. Investors also look at Cyprus for business and investment purposes, recognizing numerous investment opportunities. The benefits of the Cyprus program are plenty:

  • Fast-track procedure. Approval of citizenship application within three months;
  • Simultaneous submission of residency and citizenship applications.
  • No physical residence requirements. The only requirement is one visit every seven years.
  • No language requirements.
  • Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
  • Civil unions eligible to submit applications.
  • No obligation to relinquish current nationality.
  • Low tax rates and free trade within the EU.
  • Unrestricted right to live, work and study in Europe.
  • Right to own property in an EU member state.
  • Strategic geographical location forming a bridge between the EU, Middle East and North Africa with direct access to the Mediterranean Sea.
  • Safest country in the world with a population under 5 million.
  • Excellent education system as well as first-rate health care.
  • An outstanding holiday destination.

QUALIFICATIONS

Offered in accordance with the Civil Registry Laws 2002-2013, the Naturalization of Investors by Exception Scheme is one of the fastest to lead to residence and citizenship in Europe.

To qualify for citizenship, applicants must fulfill one of the investment options below and hold it for three years in addition to meeting the following criteria:

  • Possess a valid passport.
  • Hold no criminal record.
  • The main applicant’s property is not frozen within the boundaries of the EU.
  • Be a resident before being granted citizenship (hence the simultaneous application for both residency and citizenship for non-residents).
  • Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT.
  • In the case that one chooses to invest in residential properties only and one of the residential properties is priced at at least €500,000, then the total investment amount must be €2 million.

INVESTMENT OPTIONS

1. Real Estate, Land Development or Infrastructure Project

Applicants may invest at least €2 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.

2. Purchase, Creation or Participation in Cypriot Businesses or Companies

Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.

3. Investment in Financial Assets of Cypriot Companies or Organizations

Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three years.

4. Combination Investment

Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.


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ARTON INDEX SCORE

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Updated yearly, the Arton Index is an overall assessment and comparative benchmark of the country and its investment program.


Cyprus

1,205,575

Population Growth: 1.38%

34,400 USD

GDP (per capita)

GDP (purchasing power parity)

29.26 billion USD

146

Visa free countries


LOCATION

Middle East, island in the Mediterranean Sea, south of Turkey

CAPITAL

Nicosia

DIFFERENCE

UTC+2

TOTAL AREA

9,251 sq. km.

AGE DEMOGRAPHICS

0-14: 15.58%, 15-24: 14.37%, 25-54: 46.99%, 55-64: 11.26%, 65+: 11.8%

LANGUAGE

Greek (official): 80.9%, Turkish (official): 0.2%, English: 4.1%, Romanian: 2.9%, Russian: 2.5%, Bulgarian: 2.2%, Arabic: 1.2%, Filipino: 1.1%, Other: 4.3%, Unspecified: 0.6%

RELIGIONS

Orthodox Christian: 89.1%, Roman Catholic: 2.9%, Protestant/Anglican: 2%, Muslim: 1.8%, Buddhist: 1%, Other (includes Maronite, Armenian Church, Hindu): 1.4%, Unknown: 1.1%, None/Atheist: 0.6%

GOVERNMENT TYPE

Republic of Cyprus: presidential democracy; Turkish Republic of Northern Cyprus (self-declared): semi-presidential democracy

CURRENCY

Euro (EUR)

EXCHANGE RATE

1 USD = 0.9214 EUR