CITIZENSHIP BY INVESTMENT PROGRAM (CIP)
Advantages
- A European Union (EU) member country
- The applicant can live, travel, work and study anywhere in the
EU
- Spouse, and any dependent children up to 28 years old in full time university education can be included
- Dependent parents can be included
- Safe living environment, a beautiful location with a great quality of life
- Dual citizenship is allowed
- Allows visa-free to travel to more than 140 countries, including the EU, Canada, Hong Kong, Singapore, New Zealand, etc.
- Reasonable cost of living
- Multicultural society
- Free access to public education and healthcare system
Requirements
- No residency requirement
- No language, education or age requirements
- The applicant must prove a clean criminal record
- The applicant must purchase and retain a residential property in Cyprus of a value at least €500,000
- The residential property must be treated as a permanent residence and retained to maintain citizenship
Investment Options
- An investment of at least €2 million in a single residential property used as a permanent residence; or
- An investment of at least €2 in residential properties, including at least one property with a minimum value of €500,000 as a permanent residence
- An investment of at least €2 in commercial or mixed properties, plus at least one property with a minimum value of €500,000 as a permanent residence
- Dependent parents must also hold one property with a minimum value of €500,000 as a permanent residence, or hold a share of a permanent residence with a minimum value of €500,000
- The investment properties may be rented out to provide an income for the investor
Process
- The main applicant must visit Cyprus in order to take an oath to obtain citizenship
- Once the applicant has obtained citizenship, the dependent relatives (spouse, children up to 28 years old and dependent parents) can apply for citizenship
- To maintain citizenship, the applicant must;
- keep the investment properties for a minimum period of 3 years
- always retain a permanent residence with a minimum value of €500,000 (+VAT)
- To investment properties may be sold after 3 years
PERMANENT RESIDENCE BY INVESTMENT PROGRAM
Advantages
- A European Union (EU) member country
- One of the easiest countries to obtain residence
- Spouse, and any dependent children up to 18 years old can be included
- Safe living environment, a beautiful location with a great quality of life
- Permanent Residents can travel freely throughout all 26 Schengen countries in Europe
- Can apply for citizenship after 5 years permanent residence
- Can own companies in Cyprus and receive dividends
- Opportunity to own Freehold property
- No inheritance or wealth taxes
- Low annual property taxes
Requirements
- Must purchase a qualifying property in Cyprus
- Must have an overseas annual income of at least €30,000 plus €5,000 per year for each dependent
- Must deposit at least €30,000 in a Cyprus bank
- May not be an employee in Cyprus bank
- No criminal record
- In good health
- Must have acceptable Medical Insurance
Investment Options
- An investment of at least €300,000 +VAT in a single residential property used as a permanent residence; or
- Two residential properties providing the total value exceeds €300,000 +VAT; or
- One residential property, plus a shop unit not exceeding 100 square meters providing the total value exceeds €300,000 +VAT; or exceeding 250 square meters providing the total value exceeds €300,000 +VAT
- The investment may be made personally or through a wholly owned company, or through a company owned jointly with the spouse of the applicant
Process
- Application submitted to the Civil Registry and Migration Department of Cyprus
- Submission of supporting documents plus evidence of intended investment
- Decision made within 2 months of completed application