Based on the revised "Cyprus Investment Program", non-EU investors and theire families can acquire the Cyprus Citizenship by investment, on the basis of the Decision by the Coundil of Ministers of the Republic of Cyprus dated May 21, 2018.
- The applicant must, prior to his naturalization process, possess a residence permit of the Republic of Cyprus for a period of 6 months. (In case they do not hold a Temporary Residence Permit already).
- FAST TRACK procedure: Examination and approval time is within 6 months.
- A €2 million (plus VAT if any) - Investment in a single Residence or in a selection of Residential Properties. The residence must be retained by the investors for a period of 3 years. After 3 years the investor has the right to sell his/her property however, the investor must maintain a property of a minimum value of €500.000 (plus VAT) throughout his/her lifetime. (Will begin aﬅer the issuance of the town planning permit.)
- The parents of the investor have the right to apply for a Cypriot Citizenship by exception given that a further investment of a minimum value of €500.000 plus VAT is made on a residential property.
- It is noted the investor and his/her parents may collectively acquire a residence, provided that the total of this home – property is at least €1.000.000 (plus VAT if any).
- Any property/ies purchased during the past 3 years will also count towards the required investment amount.
- No requirement to physically reside in Cyprus, before/after approval.
- In cases where the investment involves the purchase of property or properties under construction for which the Town Planning Permit has not as yet been obtained, the mandatory three-year period of maintaining the investment commences on the date that the Town Planning Permit is issued. This clause applies for applications submitted on or after 15/06/2018.
- A thorough due diligence will be conducted on the applicants and a due diligence report, issued through an internationally accepted database (e.g. LexisNexis, World Check etc), will be required to be submitted.
- The money for the purchase of the property must come from abroad through legal sources.
- Applicants must hold a clean criminal record from the country of origin & country of residence if different & their name must not be on the list of persons whose property is ordered to be frozen within the EU.
- All family can obtain Cyprus Citizenship
- Free movement of capital/services/goods
- No requirement to physically reside in Cyprus
- Right to work, reside and buy property in all 28 EU member countries
- Right to travel to all 28 European Union member states without visa restrictions
- Cypriot passport holders are entitled to travel visa- free in 171 countries
- Enjoy governmental welfare benefits to all European Union countries
- Benefit from the legal rights of a natural born as a Cypriot citizen