The Cyprus Investment Programme

The Cypriot government in an effort to attract foreign investment into the country has established a number of incentives. One of these is the Cyprus Investment Programme by which a foreign investor can obtain full Cypriot citizenship provided they invest EUR 2.15 million into the country and meet certain other requirements. The benefits for the successful applicants of the Cyprus Investment Program are among others the right to live, work, and study in all EU member countries.

On 15 May 2019, the Council of Ministers proceeded to revise the existing program and implemented new set of rules with the intention to enable foreign nationals gaining citizenship provided that they meet specific requirements. These new requirements that have been implemented include the addition of two government contributions of EUR 75,000 each and an estimated approval time of 8 months.

The interested investors, who can be of any non-Cypriot citizenship may apply for the Cyprus Investment Programme if they meet one of the investment criteria presented below. The qualification may either be done personally or through a company or companies in which the applicant acts as a shareholder or as a high-ranking senior manager.

  • Fulfill both the below contributions:

    1. Donation of EUR 75,000 to the Research and Innovation Fund or another certified innovation enterprise

    2. Donation of EUR 75,000 to the Cyprus Land Development Corporation

  • Select one of the following options:

    1. Investment in real estate, developments, and infrastructure projects
      The applicant should make an investment of at least EUR 2 million for the purchase or construction of real estate.

    2. Purchase and establishment of or participation in Cypriot businesses and companies
      The applicant must make an investment of at least EUR 2 million in the purchase of, creation of, or participation in businesses or companies that are based and operating in the republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot citizens.

    3. Investment in alternative investment funds or financial assets of Cypriot enterprises or Cypriot organizations licensed by the Securities and Exchange Commission
      The applicant should purchase units amounting to at least EUR 2 million from alternative investment funds. This criterion also covers the purchase of financial assets of Cypriot businesses or organizations for at least EUR 2 million, in the form of bonds, securities, and debt securities.

    4. Combination of the above investments
      The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million.

The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million.

Another important requirement that applies, regardless of the investment option chosen, is the purchase and lifetime possession of a property in Cyprus that will be declared as the applicant’s residence in Cyprus. The purchase price of the particular property should be at least EUR 500,000 plus VAT. In the case that the applicant proceeds with the real estate option, this property can be included in the EUR 2 million investment.

Benefits of the Cyprus Investment Programme

  • The right of free movement, freedom to work and study, and security within the social and legal system of the EU

  • Benefits for the whole family

  • Visa-free or visa-on-arrival travel to 174 destinations including Canada, Hong Kong, Singapore, and the UK

  • Completion in approximately six to eight months

  • Citizenship passed down to future generations

Procedure

The process of obtaining Cypriot citizenship consists of a series of important steps that need to be implemented professionally and carefully. Our team of experts manages each step and ensures that they are executed correctly and at the right time, since each part of the process must be handled carefully to secure the success of our client application.

In addition to the procedural part of the application for obtaining Cypriot citizenship we also helps our clients to identify the most suitable investment opportunities, evaluates all possible investments in relation to potential exit strategies, prepares and submits the application for citizenship to the government and closely following up with the authorities while the case is being processed.

Time frame

Following the submission of an application, our team that will handle the whole procedure typically receives approval within six to eight months.

Performance guarantee

Obtaining Cypriot citizenship may be a straightforward procedure but also a very delicate one that demands work in detail and a high level of focus on the organization and structuring of the investment. Our team provides high calibre services with years of experience on the sector which can assure the best results possible.

Our team only works with investors who have passed our internal due diligence checks, which are similar to the standards of those used by the Government of Cyprus. Police clearance records from the current country of residence must also be provided at this preliminary stage.

Please contact us for more information or to arrange an initial private consultation.