Cyprus

CYPRUS

Cyprus is the only country in Europe offering immediate citizenship through investment in real estate with a very quick route of just 2-3 months to obtain a EU passport.

Cyprus At-A-Glance

Strategically located at the crossroads of three continents – Europe, Asia and Africa – Cyprus is an international tourist destination, with a modern, free-market, service-based economy.

Its regulatory and legal frameworks for international investors and businesses is excellent, making it a hub for the energy and shipping industries. Over 80% of the country speaks English.

There are excellent educational facilities, including several UK universities with campuses on the island. Healthcare facilities are also robust, and Cyprus has the lowest crime rate in Europe, placing it among the top five safest countries in the world.

Citizenship Programs

Non-EU investors and their families may gain Cypriot citizenship through the Naturalization by Exception, which is one of a few citizenship-by-investment programs allowing rapid entry into the European Union. Under this program, there are two available options:

Option 1: 

An investment of €2 million in residential real estate in Cyprus that must be retained for at least 3 years. At the end of the 3-year period the investment can be reduced to a €500,000 residential property, which should be held indefinitely. The applicant may purchase multiple properties, as long as the total value of €2 million is retained for 3 years, and as long as the total value of the residential property owned indefinitely in Cyprus remains equal to or above €500,000.

Option 2: 

A 3-year investment of €2 million in one or more of the following

Interest-bearing Cypriot government bonds, provided the investment does not exceed €500,000. Eligible real estate situated in Cyprus, namely a) Residential; b) Commercial; c) Infrastructure; d) Land (provided there is a development plan in place).

Creation, acquisition or participation in a Cypriot company or business where the applicant is a majority shareholder, while employing 5 Cypriot or EU nationals who have and been residents of in Cyprus for a duration of 5 years prior to filing the citizenship application.

The Alternative Investment Fund or financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec).

Benefits

  • Open to all nationalities, Cyprus’ citizenship through real estate investment is the fastest EU program – just three months – and there is no language test requirement! Furthermore, dual citizenship is permitted and dependents, spouse and children under the age of 28 can be included under one convenient citizenship application.
  • As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally and the freedom to live, work and travel in all EU countries. In addition to visa-free travel to 157 countries worldwide, you can trade freely across all 28 EU countries and study in educational institutions across the EU for free or at substantially discounted rates.

Taxation

  • Cyprus has one of the lowest taxation rates in Europe, with no foreign income tax, inheritance tax or withholding tax on interest earned. Cyprus also has one of the lowest corporate tax rates in Europe at just 12.5%.
  • Property acquired is freehold – there is a low property tax and reduced VAT on property of just 5% (subject to conditions). Non-domiciled investors (those who acquire residency, but choose not to live in Cyprus) will be exempt from taxation in Cyprus for personal investment income, including dividends and interest.

Application Process

Basic Steps In The Application Process 

Step 1

Prepare your application with all of the required documents.

Step 2

Purchase real estate with documents in place and lodge relevant paperwork at the land registry

Step 3

Submit your citizenship application and qualified investment made in escrow account.

Step 4

Your application will be processed and approved in principle, after which you will need to pay government fees and release your investment.

Step 5

You will receive your citizenship certificate, and can then submit your passport application, register your biometrics and receive your passport.

Our executives and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

FEES

Lawyers’ fees will apply for the processing of the citizenship application and the purchase of the property. This typically amounts to around €20,000 for a family of three. Government processing and application fees for a family of three tends to amount to €17,000.

REGISTER




Properties

Non-EU investors and their families may gain Cypriot citizenship through a program called ‘Naturalisation by Exception’, which is one of a few citizenship-by-investment programs allowing rapid entry into the European Union. Under this program, there are two available options:

Option 1: An investment of €2 million in residential real estate in Cyprus
The investment in residential real estate must be retained for a minimum period of 3 years. At the end of the 3-year period the investment can be reduced to a €500,000 residential property, which should be held indefinitely. The applicant can make multiple property purchases, as long as the total value of €2 million is retained for 3 years, and as long as the total value of the residential property owned indefinitely in Cyprus remains equal to or above €500,000.

Option 2: An investment of €2 million in a combination of real estate and/or financial investments:
A 3-year investment of €2 million in one or more of the following:
1. Interest-bearing Cypriot government bonds, provided the investment does not exceed €500,000.
2. ‘Eligible real estate’ situated in Cyprus, namely a) Residential; b) Commercial; c) Infrastructure; d) Land (provided there is a development plan in place).
3. Creation, acquisition or participation in a Cypriot company or business where the applicant is a majority shareholder, while employing 5 Cypriot or EU nationals who have and been residents of in Cyprus for a duration of 5 years prior to filing the citizenship application.
4. The Alternative Investment Fund or financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec).

Take the quickest route to European Citizenship:

  • 3 months – by opting for Cypriot citizenship. As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally and the freedom to live, work and travel in all EU countries.
  • The Cypriot passport allows visa-free travel to 157 countries worldwide, including the E.U., U.K. and Canada.
  • You can trade freely across all 28 EU countries an a market of over 500 million people.
  • You gain freedom to study in schools or universities across the EU for free, or at discounted rates.
  • Cyprus has one of the lowest taxation rates in Europe, with no foreign income tax, inheritance tax or withholding tax on interest earned.
  • This citizenship program is open to all nationalities. There are no language test requirements.
  • Dual citizenship is permitted.
  • And, dependents, spouse and children under the age of 28 can conveniently be included in one single citizenship application.

In 2015, the Cypriot government introduced a package of measures to encourage international investment and residence from high net-worth investors. Non-domiciled Investors (those who acquire residency but choose not to live in Cyprus) will be exempt from taxation in Cyprus for personal investment income, including dividends and interest. They will pay zero tax in Cyprus, irrespective of whether the income is earned in Cyprus or abroad. There is no inheritance tax. Cyprus also has one of the lowest corporate tax rates in Europe at just 12.5%

Acquisition of Cyprus citizenship is the fastest among the EU countries and involves purchase of real estate. It is completed usually within 3 months.

Step 1: Application preparation with all of the required documents.
Step 2: Purchase of real estate. The firm will prepare all documents, run due diligence on the property chosen, sign the sale agreement, lodge them at the land registry and pay the purchase price.
Step 3: Citizenship application submission and qualified investment made in escrow account.
Step 4: Processing of the application.
Step 5: Approval in principle.
Step 6: Payment of government fees and release of investment.
Step 7: Issuance of citizenship certificate.
Step 8: Passport application, biometrics registration and passport issuance.

Our executives and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

FEES

Lawyers’ fees will apply for the processing of the citizenship application and the purchase of the property, and typically amount to around €20,000 for a family of three. Government processing and application fees for a family of three would amount to €17,000.


CITIZENSHIP PROGRAM

Non-EU investors and their families may gain Cypriot citizenship through a program called ‘Naturalisation by Exception’, which is one of a few citizenship-by-investment programs allowing rapid entry into the European Union. Under this program, there are two available options:

Option 1: An investment of €2 million in residential real estate in Cyprus
The investment in residential real estate must be retained for a minimum period of 3 years. At the end of the 3-year period the investment can be reduced to a €500,000 residential property which should be held indefinitely. The applicant can make multiple property purchases, as long as the total value of €2 million is retained for 3 years, and as long as the total value of the residential property owned indefinitely in Cyprus remains equal to or above €500,000.

Option 2: An investment of €2 million in a combination of real estate and/or financial investments:
A 3-year investment of €2 million in one or more of the following:
1. Interest-bearing Cypriot government bonds, provided the investment does not exceed €500,000.
2. ‘Eligible real estate’ situated in Cyprus, namely:
a. Residential;
b. Commercial;
c. Infrastructure;
d. Land, provided there is a development plan in place.
3. Creation, acquisition or participation in a Cypriot company or business where the applicant is a majority shareholder while employing 5 Cypriot or EU nationals who have and been residents of in Cyprus for a duration of 5 years prior to filing the citizenship application.
4. The Alternative Investment Fund or financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec).

BENEFITS

  • Quickest route to European Citizenship – 3 months.
  • As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally and freedom to live, work and travel in all EU countries.
  • The Cypriot passport allows visa-free travel to 157 countries worldwide, including the E.U., U.K. and Canada.
  • Freedom to study in schools or universities across the EU for free, or at discounted rates.
  • One of the lowest taxation rates in Europe, with no foreign income tax, inheritance tax or withholding tax on interest earned.
  • Trade freely across all 28 EU countries and a market of over 500 million people.
  • The program is open to all nationalities.
  • No language test requirements.
  • Dual citizenship permitted.
  • Dependents, spouse and children under 28 can be included in one single citizenship application.

DEPENDENTS

Qualifying family members include spouses, all children up to the age of 28 and all future generations.

TAXATION

In 2015, the Cypriot government introduced a package of measures to encourage international investment and residence from high net worth investors. Non-domiciled Investors (those who acquire residency but choose not to live in Cyprus) will be exempt from taxation in Cyprus for personal investment income, including dividends and interest. They will pay zero tax in Cyprus, irrespective of whether the income is earned in Cyprus or abroad. There is no inheritance tax. Cyprus also has one of the lowest corporate tax rates in Europe at just 12.5%.

APPLICATION PROCESS

Acquisition of Cyprus citizenship is the fastest among the EU countries and involves purchase of real estate. It is completed usually within 3 months.

Step 1: Application preparation with all of the required documents.
Step 2: Purchase of real estate. The firm will prepare all documents, run due diligence on the property chosen, sign the sale agreement, lodge them at the land registry and pay the purchase price.
Step 3: Citizenship application submission and qualified investment made in escrow account.
Step 4: Processing of the application.
Step 5: Approval in principle.
Step 6: Payment of government fees and release of investment.
Step 7: Issuance of citizenship certificate.
Step 8: Passport application, biometrics registration and passport issuance.

Our executives and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

FEES

Lawyers’ fees will apply for the processing of the citizenship application and the purchase of the property, and typically amount to around €20,000 for a family of three. Government processing and application fees for a family of three would amount to €17,000.

BECOME A world citizen

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