According to the Council of Ministers’ decision of September 14, 2016, amending the Citizenship by Investment Programme, a non-Cypriot citizen may be entitled to Cypriot citizenship if he or she has made any of the following investments in Cyprus:

 

1.  Investment in real estate, land development and infrastructure projects

The applicant must have made an investment of at least €2,0 million for the purchase or construction of buildings or for the construction of other land development projects (for residential or commercial purposes, developments in the tourism sector etc.) or other infrastructure projects.

 

Please note that investment in land under development is included in this criterion, provided that an investment plan for the development of the purchased land will be included in the application. Investment in land that is situated in a building zone of zero development is excluded.

Investor is entitled to sell his investments after 3 year.

 

 

2. Investment in financial assets of Cypriot companies or Cypriot organizations

The applicant should have made a purchase or should have participated in companies or organizations established and operating in the Republic of Cyprus with investment of at least €2,0 million. The invested funds shall be channelled towards the financing of the investment objectives of these companies exclusively in Cyprus, based on a specific investment plan.

 

The applications shall be evaluated to verify that the companies or organizations have proven physical presence in Cyprus, with significant activity and turnover and employ at least five (5) Cypriot or citizens of European Union member-states. The minimum number of employees shall increase, if more than one applicant invest simultaneously or almost simultaneously in the same business or company. In addition, the employees of the companies need to have legally and continuously resided in Cyprus during the five years preceeding the application submission date.  

 

3. Investment in Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec

The applicant should have bought units of at least €2,0 million from alternative investment funds (AIF) established in the Republic of Cyprus, licensed and supervised by the CySec and whose investments are made exclusively in the Republic  of Cyprus, in investments that meet the criteria of this Scheme or in areas approved by the Minister of Finance.

In order to confirm that the investments that meet the criteria of the current Scheme will be kept for at least three years, the manager or the auditor of the Fund shall inform in writing and on an annual basis, the Ministries of Finance and Interior with reference to the value of the initial investment. 
 
The purchase of financial assets of Cypriot companies or organizations of at least €2,0 million, such as bonds, bills and securities, issued with the approval of the CySec, by companies that have proven physical presence and substantial economic activity in the Republic of Cyprus, and have as a purpose the financing of the investment plans of these companies or organizations exclusively in Cyprus, based on an investment plan, fall under this criterion.

Please note that the purchase by an AIF of units of other AIFs is not considered eligible.

 

4. Combination of the aforementioned investments

The applicant may proceed with a combination of the above investments, provided that the total investment will amount up to at least €2,0 million.

Within this criterion (combination of investments) the applicant may purchase special government bonds of the Republic of Cyprus, up to €500.000, which will be issued by the Public Debt Management Office of the Ministry of Finance, on condition that the investor will retain these bonds for a three year period. The characteristics and the terms of these special bonds will be determined by the General and Special Issue Terms of the Government Bonds of the Republic of Cyprus. Investments in government bonds through the secondary market are not considered eligible

 

 

Please note:

Applicants who satisfy the criteria for applying for Citizenship must:

• Have a clean criminal record

• Their names must not be listed in the list of individuals whose assets are ordered to be frozen within the borders of the European Union.

• Additionally, applicants must hold a permanent privately-owned residence in Cyprus, the market value of which must be worth of a minimum €500.000 plus V.A.T.

Our Practice:

 

We can represent you all the way until successful outcome.  We ensure that whatever is necessary to be done, is duly done on time.  We assist you on completing all necessary forms (M127) and submit all mandatory documentation. Our dedicated Immigration team is happy to meet you and give you a whole description of the process.