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CYPRUS (On Hold)

CITIZENSHIP BY INVESTMENT

Overview

The Cyprus Citizenship by Investment program was launched in 2002, allowing foreign investors to acquire citizenship under certain conditions. The Cyprus Passport by Investment is irrevocable and to obtain it applicants are not required to reside in the country or renounce their current nationality.

  • icon Processing time

    6 months

  • icon Visa free travel

    Instant visa-free travel to 174 countries, including the Schengen countries, Canada, United Kingdom, Singapore and Hong Kong

  • icon Investment type

    Combined Investment of Real Estate and a non-refundable contribution to the Government.

  • icon Investment cost

    EUR 2,200,000

  • icon Family dependents

    Spouse, children below 28 years old and elderly parents above 65 years old

  • icon Passport validity

    For persons 18 years of age and above it will be valid for 10 years, for children under 18 years it is valid for five years

Citizenship law or Residency Law

Country Info

The Republic of Cyprus joined the European Union on May 1st, 2004 and joined the Eurozone on January 1st, 2008. Cyprus enjoys an idyllic Mediterranean lifestyle, beautiful beaches, 340 days of sunshine a year and welcoming friendly people in a relaxed environment. The Cyprus nationality 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. Cyprus is a favored business destination for international companies for its strategically geographical location between Europe, Middle East and Africa.

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CAPITAL

Nicosia

POPULATION

1,180,000

LANGUAGE

Greek (official)

GOVERNMENT TYPE

Unitary bicommunal presidential constitutional republic

CURRENCY

Euro (EUR)

EXCHANGE RATE

1 USD = 0.9214EUR

Benefits

Costs

To be eligible for Cyprus citizenship under its Citizenship by Investment Program, the applicant is required to make a combined Investment of Real Estate and a non-refundable contribution to the Government.

1. REAL ESTATE INVESTMENT

Real Estate investment could be commercial, residential, land or a combination of all of these. The property investment needs to be maintained for 5 years and once it is sold a property worth EUR 500,000 must be purchased and kept indefinitely for the lifetime of the main applicant.

Minimum Investment
EUR 2,000,000
Additional Real Estate Investment to include both Parents
EUR 500,000

2. DONATION TO THE CYPRUS GOVERNMENT FUND

In addition to the Real Estate investment, it is required to pay a non-refundable financial contribution of EUR 200,000 to one of more Government entities as follows:

Research & Innovation Foundation
EUR 100,000
Industry and Technology Service
EUR 100,000
RES and Energy Conservation Fund
EUR 100,000
National Solidarity Fund
EUR 100,000
Cyprus Land Development Corporation
EUR 100,000

3. GOVERNMENT FEES

In addition to the purchase of real estate, there are Government fees and Application costs to be paid.

Each ADULT Applicant 18 years and above
EUR 10,000
Each MINOR Applicant below 18 years
EUR 2,000

Citizenship Invest professional fees, official application forms, certification of citizenship and passport, courier & other disbursements are the only other costs associated. A detailed quotation with no hidden costs is provided for the specific case.

Required Documents

Citizenship Invest appoints a Document Collection Specialist for each case. The firm offers a bespoke
service that simplifies the application process, requesting from clients the bear minimum. Our job is to
simplify the document collection as much as possible and when required we obtain the documents for the
client without their involvement. Please note the below list is to be used as a guideline only, after assessing
the particular case Citizenship Invest prepares a personalized checklist.

Documents required from each applicant including children:
• Certified copy of all passports held
• Original excerpt of full birth record or certified copy of full birth certificate (i.e. a birth document that also includes your parent’s details, or a household register, family book etc.). It has to be in English and be stamped/certified by the Ministry of Foreign Affairs and the Cyprus Embassy.
• Original Police Record from country of birth, country of citizenship, country of residence (if different), and any country in which the applicant has resided for more than six (6) months in the past ten (10) years, for each applicant sixteen (16) years and over, it has to be in English and be stamped/certified by the Ministry of Foreign Affairs and the Cyprus Embassy.
• Two (2) Original passport-size photos
Documents required only if married persons apply together:
• Original excerpt of marriage record or certified copy of marriage certificates, it has to be in English and be stamped/certified by the Ministry of Foreign Affairs and the Cyprus Embassy.
• Certified copy of divorce certificate, it has to be in English and be stamped/certified by the Ministry of Foreign Affairs and the Cyprus Embassy (if applicable).
• C.V. (in English signed by the applicant).
For a personalized document checklist please contact us.

Timeline

MONTH 1

Client signs CI Retainer Agreement and pays the retainer invoice.

While documents are collected the client travels to Cyprus, selects and reserves the property paying a fully refundable deposit into an Escrow account. At the same time the client completes his/her biometrics.

Once contracts are finalized and executed the client pays the remaining balance into an Escrow account (required by law). The investment amount in full is refundable in case of rejection.

CI submits the application to the Government including proof of property transaction.
The client pays the submission invoice to CI.

MONTH 2

The PR card is issued within 2 weeks of submission of application.

MONTH 6

Citizenship approval is received and at this stage the client with the spouse must visit Cyprus for one day to take an Oath of Allegiance and to receive Cypriot citizenship certificates and passports in person

At this point the client pays the Government approval fees for main applicant and spouse and the remaining CI professional fees

The investment funds are released from the Escrow Account to the developer.

At this stage, the applicant’s dependent children may apply for Cyprus Citizenship and the relevant government fees are paid

The estimated time to receive citizenship approval depends on the due diligence processing time and the specific case.

CYPRUS (On Hold) VISA FREE countries

* Visa on arrival

174Countries

AMERICAS
  • Argentina
    Belize
    Bermuda
    Bolivia *
    Brazil
    Canada **
    Chile
    Colombia
    Costa Rica
    Ecuador
    El Salvador
    Falkland Islands
    French Guiana
    Guatemala
    Honduras
    Mexico
    Nicaragua
    Panama
    Paraguay
    Peru
    Uruguay
    Venezuela
EUROPE
  • Albania
    Andorra
    Austria
    Belarus
    Belgium
    Bosnia and Herzegovina
    Bulgaria
    Croatia
    Czech Republic
    Denmark
    Estonia
    Faroe Islands
    Finland
    France
    Germany
    Gibraltar
    Greece
    Greenland
    Hungary
    Iceland
    Ireland
    Italy
    Kosovo
    Latvia
    Liechtenstein
    Lithuania
    Luxembourg
    Malta
    Moldova
    Monaco
    Montenegro
    Netherlands
    North Macedonia
    Norway
    Poland
    Portugal
    Romania
    San Marino
    Serbia
    Slovakia
    Slovenia
    Spain
    Sweden
    Switzerland
    Ukraine
    United Kingdom
    Vatican City
OCEANIA
  • Cook Islands
    Fiji
    French Polynesia
    Kiribati
    Marshall Islands
    Micronesia
    New Caledonia
    New Zealand **
    Niue
    Northern Mariana Islands **
    Palau Islands
    Papua New Guinea *
    Samoa
    Solomon Islands
    Tonga
    Tuvalu
    Vanuatu
E-VISA
  • Australia
    Gabon
    Kuwait
    Myanmar
    Rwanda
    Sri Lanka
    Turkey
Asia
  • Bangladesh *
    Brunei
    Cambodia *
    Hong Kong (SAR China)
    Indonesia
    Japan
    Kazakhstan
    Kyrgyzstan *
    Laos *
    Macao (SAR China)
    Malaysia
    Maldives *
    Mongolia *
    Nepal *
    Philippines
    Singapore
    South Korea
    Sri Lanka **
    Taiwan
    Tajikistan *
    Thailand *
    Timor-Leste
    Uzbekistan
Africa
  • Botswana
    Cape Verde Islands
    Comores Islands *
    Egypt *
    Eswatini (Swaziland)
    Gabon *
    Gambia
    Guinea-Bissau *
    Kenya
    Lesotho
    Madagascar *
    Malawi *
    Mauritania *
    Mauritius
    Mayotte
    Morocco
    Mozambique *
    Reunion
    Rwanda *
    Sao Tome and Principe
    Senegal
    Seychelles *
    Sierra Leone *
    Somalia *
    South Africa
    St. Helena *
    Tanzania
    Togo *
    Uganda
    Zambia
    Zimbabwe
Caribbean
  • Anguilla
    Antigua and Barbuda
    Aruba
    Bahamas
    Barbados
    Bonaire; St. Eustatius and Saba
    British Virgin Islands
    Cayman Islands
    Curacao
    Dominica
    Dominican Republic
    French West Indies
    Grenada
    Haiti
    Jamaica
    Montserrat
    St. Kitts and Nevis
    St. Lucia
    St. Maarten
    St. Vincent and the Grenadines
    Trinidad and Tobago
    Turks and Caicos Islands
Middle East
  • Armenia
    Bahrain *
    Georgia
    Iran *
    Israel
    Jordan *
    Kuwait *
    Lebanon *
    Palestinian Territory
    Qatar
    Saudi Arabia *
    United Arab Emirates

*The list of countries is subject to variations depending on each government's policy and so is access to these countries.

brochure

Content
  • Program Overview
  • Citizenship Law
  • Country profile
  • Benefits of the program
  • Applicants Qualifications
  • Investment requirements
  • Application Fees
  • Document Checklist
  • List of countries Visa free and on arrival
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10 pages3.79 MB
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