CYPRUS CITIZENSHIP
Overview
Cypriot citizenship and second passport program is the only fast track program in Europe. You and your family will be able to live and work anywhere in Europe with this second passport without ever residing in Cyprus to obtain or maintain your citizenship.
You and your family will obtain an irrevocable dual citizenship and second passport without having to move away or renounce your current nationality.
View the many benefits of obtaining the European Citizenship of Cyprus
Cyprus is currently the only European country which by law offers citizenship and a second passport in 6 months without having to live in the country. On the 24 May 2013, pursuant to subsection (2) of section 111A of the Civil Registry Laws of 2002-2013, the Cypriot Government has enforced favorable immigration policies, further fostering a way of obtaining Cyprus Citizenship by Investment.
Timeline:
6 months
Nationalities supported:
Open to all nationalities
Visa free travel:
Instant visa-free travel to 171 countries, including the Schengen countries, Canada, United Kingdom, Singapore and Hong Kong
Investment type:
Real Estate Investment in Cyprus
Investment cost:
Real Estate Investment of EUR 2,150,000
Benefits
Personal Freedom
Instant and irrevocable citizenship and second passport
Obtain citizenship and second passport in 6 months
Cypriot PR card is issued immediately while waiting for your second passport
No need to reside in Cyprus
Dual Nationality Allowed
Open to all nationalities
Visa Free Travel Countries
Second Cypriot passport allows instant travel to 171 countries.
Visa-free access to Australia and Canada
Cypriot citizens have the right to live and work anywhere within the 28 countries in the European Union.
More countries are constantly added to the visa free list.
Business Advantages
Beneficial tax regime for Cypriot second passport holder
No foreign income tax, no inheritance tax, no withholding tax on interest earned and lowest taxation rates in Europe for residents
Family Security
Main Applicant, wife and dependent children below the age of 28 obtain citizenship and second passport
The invaluable benefits are passed onto your grandchildren and future generations via naturalization
Elderly parents above 65 can also apply for citizenship as dependents.
Outstanding lifestyle with a safe environment.
The Cypriot citizenship program: A legacy for your family tree
Costs
The citizenship and second passport program of Cyprus requires making a real estate investment of EUR 2,000,000 in addition to EUR 75,000 to the Cyprus Land Development Corporation and EUR 75,000 to the Research Promotion Foundation.
The property investment must be kept for 5 years and once it is sold a property worth EUR 500,000 must be kept indefinitely.
Option - Real Estate investment
The total investment amount will be held on an escrow account and not released until the citizenship application has been approved by the Government.
In the rare case of rejection, the total investment will be returned to the applicant.
| Real Estate Investment | EUR 2,000,000 (min) |
| Financial Contribution | EUR 150,000 |
Include both parents of main applicant for an additional | USD 500,000 |
For a full breakdown of Government Fees, Due Diligence Fees and other payable applications fees for your specific case please contact us.
Timeline
Month 1
Month 1
Client signs CI Retainer Agreement and pays the retainer invoice.
Client (or his/her representative) is flown Business Class to Cyprus to select and reserves the property, paying a fully refundable deposit into an approved Escrow account.
Once contracts are approved, the client pays the remaining balance in full into an approved Escrow account, which will be fully refundable in case of rejection.
Documents are collected, CI submits the application alongside with the SPA (Property, Sales and Purchase Agreement) which will be submitted to the government.
The client pays the Submission invoice of CI Professional Fees.
Month 2-5
Month 2-5
PR card is issued within weeks of purchase while waiting for your passport. The client may need to revisit Cyprus to complete his/her biometric details for the PR card prior to issuance. (This sometimes can be done via your local Cyprus Embassy).
Citizenship approval is received, the client with the spouse must visit Cyprus for one day to take an oath of Allegiance in person and to receive Cypriot citizenship certificates. At this stage the client pays the remaining of CI professional fees and government approval fees per applicant (for husband and wife).
The funds will be released from the Escrow Account to the developer based on the Escrow Agreement and SPA.
At this point, the applicant’s dependent children may apply for Cyprus Citizenship and the relevant government fees are paid.
The client pays the Approval invoice of CI Professional Fees.
Month 6
Month 6
Passport is issued 3 months after approval and in total 6 months after the PR card is issued.
Children must travel to Cyprus to collect Citizenship Certificates and second passports. Alternatively, they can be collected at a Cypriot Embassy abroad (the last alternative might take longer).
The time estimated to receive the citizenship approval is based on the Government's due diligence processing time and is not guaranteed*
Visa Free
Cyprus
Visa Free Access
Visa on arrival
Freedom movement
Limited VOA
eVisa
VISA-FREE TRAVEL TO 171 COUNTRIES
AMERICAS
Antigua & Barbuda
Argentina
Bahamas
Barbados
Belize
Bolivia*
Brazil
Canada
Chile
Colombia
Costa Rica
Dominica
Dominica Republic
Ecuador
El Salvador
Grenada
Guatemala
Haiti
Honduras
Jamaica
Mexico
Nicaragua
Panama
Paraguay
Peru
St. Kitts & Nevis
St. Lucia
St. Vincent & The Grenadines
Trinidad and Tobago
Uruguay
Venezuela
AFRICA
Botswana
Cape Verde*
Comoros*
Djibouti*
Egypt*
Gambia
Guinea-Bissau*
Kenya
Lesotho*
Liberia
Madagascar
Malawi*
Mali*
Mauritania*
Mauritius
Morocco
Mozambique*
São Tomé and Príncipe
Senegal
Seychelles
Somalia*
South Africa
Swaziland
Tanzania
Togo*
Uganda
Zambia
Zimbabwe
EUROPE
Albania
Andorra
Austria
Belgium
Bosnia & Herzegovina
Bulgaria
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Georgia
Germany
Greece
Hungary
Iceland
Ireland (Rep.)
Italy
Latvia
Lithuania
Luxembourg
Macedonia (FROM)
Moldova
Monaco
Montenegro
Netherlands
Norway
Poland
Portugal
Romania
San Marino
Serbia
Slovakia
Slovenia
Spain
Sweden
Switzerland
Ukraine
United Kingdom
Vatican City
ASIA
Armenia
Bahrain*
Bangladesh*
Brunei
Cambodia*
Hong Kong*
Indonesia
Iran*
Israel
Japan
Jordan*
Laos*
Lebanon
Macau*
Malaysia*
Maldives
Nepal*
Oman*
Palestinian Territories
Philippines
Qatar*
Singapore
South Korea
Tajikistan*
Thailand*
UAE
OCEANIA
Fiji
Kiribati
Marshall Islands
Micronesia
New Zealand
Palau
Papua New Guinea*
Samoa
Solomon Isl.*
Timor-Leste
Tonga
Tuvalu
Vanuatu
EVISA
Australia
Gabon
Kuwait
Myanmar
Rwanda
Sri Lanka
Turkey
* Visa on arrival
The list of countries is subject to variations depending on each government's policy and so is access to these countries.
General info
The Republic of Cyprus joined the European Union on May 1st, 2004 and joined the Eurozone on January 1st, 2008.
Soon after independence in 1960, the Republic of Cyprus became a member of the United Nations, the Commonwealth, the Non-Aligned Movement and the Council of Europe. Cyprus subsequently became a member of other international organizations, including the Organization for Security and Cooperation in Europe, and the World Bank.
Cyprus falls is in the Mediterranean Sea, a short distance from Lebanon, Syria, Turkey and Egypt. The country enjoys an idyllic Mediterranean lifestyle, beautiful beaches, 340 days of sunshine a year and welcoming friendly people in a relaxed environment.
Cyprus offers a high standard of living, modern transport, and infrastructure, excellent academic institutions, access to quality medical services, a stable government and a robust legal framework which is based on British law and fully harmonized with EU directives.
Not only does Cyprus have the lowest and most favorable tax rates in Europe, it also has many tax exemptions for non-residents. Non-residents are only liable to pay taxes in Cyprus for income generated in the country. Moreover, there is no withholding tax on interest income derived in Cyprus or dividends earned in the country. Cyprus has signed a Double taxation treaty with 43 countries to ensure that taxable income derived in Cyprus is credited from the country of tax residence of the individual.
Cyprus is a favored business destination for international companies for its strategically geographical location between Europe, Middle East and Africa. Cyprus is considered a great hub for offshore banking not only for companies registered in Cyprus but for those which are registered in other tax jurisdictions such as UK, BVI, Seychelles, Belize, etc. The Cypriot banking system has a good understanding of International Trust law and the use of nominee services for those who wish to have anonymity, privacy and desire the highest level of confidentiality. The Central Bank of Cyprus permits all major currencies to be held and traded in Cyprus.
Cypriot second passport and citizenship program is the only European citizenship program that could grant you and your family a second passport in 6 months. It is also one of the world’s most reputable and well-established Citizenship by Investment Program.
To know more about investing in a Cypriot second passport and dual citizenship program, please contact us or send a call back request and one of our specialists will contact you to discuss your needs.