Cyprus

Officially the Republic of Cyprus is a small island country in the Eastern Mediterranean and the third largest and most populous island in the region. It is located south of Turkey and Greece. The country typically enjoys a warm and stable climate and is famously promoted as the ‘bridge between the East and West.

The country is a member of the EU, which allows Cypriot businesses to have access to the world’s largest free trade area. Its economic outlook looks increasingly positive with the service sector accounting for approximately 80% of the country’s GDP. Cyprus has also recently discovered large amounts of offshore gas deposits valued at approximately 300-3000% of the country’s GDP value. The gas discovery will aim to bring great wealth to the island in addition to new investments that will further expand the already thriving tourism industry. Furthermore, the Cyprus shipping industry is known to be one of the largest in the world, the country is known to have the tenth largest fleet of ships in the world.

About Cyprus’ Citizenship Program

Cyprus offers the fastest route to EU citizenship with a processing time of just 3 months and a minimum investment of just €2 million in real estate. The island attracts many investors over the world due to its geographical location and attractive taxation benefits as well as:

 

  • Approval of citizenship application within three months.
  • Simultaneous submission of residency and citizenship applications.
  • No physical residence requirements. The only requirement is one visit every seven years.
  • No language requirements.
  • Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
  • Civil unions eligible to submit applications.
  • No obligation to relinquish current nationality.
  • Low tax rates and free trade within the EU.
  • Unrestricted right to live, work and study in Europe.
  • Right to own property in an EU member state.
  • Strategic geographical location forming a bridge between the EU, Middle East and North Africa with direct access to the Mediterranean Sea.
  • Safest country in the world with a population under 5 million.
  • Excellent education system as well as first-rate health care.
  • An outstanding holiday destination.
Am I Eligible?

n accordance with the Civil Registry Laws 2002-2013, Cyprus provides the Naturalization of Investors by Exception Scheme which is one of the fastest means of acquiring residence and citizenship in Europe.

To qualify for citizenship, applicants must fulfill one of the investment options below and hold it for three years in addition to meeting the following criteria:

  • Possess a valid passport.
  • Hold no criminal record.
  • The main applicant’s property is not frozen within the boundaries of the EU.
  • Be a resident before being granted citizenship (hence the simultaneous application for both residency and citizenship for non-residents).
  • Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT.
  • In the case that one chooses to invest in residential properties only and one of the residential properties is priced at at least €500,000, then the
  • total investment amount must be €2 million.
Investment Options

Real Estate, Land Development or Infrastructure Project

Applicants may invest at least €2 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.
Purchase, Creation or Participation in Cypriot Businesses or Companies

Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.
Investment in Financial Assets of Cypriot Companies or Organizations

Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three years.
Combination Investment

Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.

Facts
  • Archaeological evidence suggests humans first lived in Cyprus 10,000 years ago.
  • Commandaria (a sweet Cypriot red wine) is known to be the oldest wine in the world.
  • Cyprus has two international airports: Larnaca and Paphos.
  • Life expectancy of men is 76 and life expectancy of women in Cyprus is 80.
  • Cyprus has the 29th highest nominal GDP per capita in the world.
  • There is no inheritance tax in Cyprus.