Monthly Archives: September 2017

Participating in the programme investor with his family obtain Cyprus passports. This is not a residence permit or a visa but rather full citizenship of the EU-member state.
The programme requires the amount of €2mln to be invested in Cyprus for 3 years. The citizenship is granted within just 3 months!
The programme has already attracted over 3 billion euros of direct investments into the economy of the Republic of Cyprus.

Advantages of the programme – The programme is unique in Europe and very appealing:

• Cyprus passport is a full EU passport. Investor and his family can freely reside, work, study, have business in any of the EU-member states as well as in Switzerland, Liechtenstein, Norway and Iceland
• Holder of Cyprus passport can travel visa-free in 157 countries in total
• Dual-citizenship is permitted. Acquisition of Cyprus citizenship is not reported to other countries
• The passport is issued also for the investor’s spouse*** and all financially dependent children (up to 28 years old). All next generations of investor retain EU citizenship
• The investor’s parents are entitled to apply for citizenship provided that they are owners of a Cyprus permanent residence of at least €500.000
• An express procedure – 3 months to be approved, plus another 3 months to actual passport
• No requirement to reside in Cyprus
• Minimum investment required is €2mln (here and below amounts are excluding VAT where VAT is applicable)
• The investment must be kept just for 3 years. After that the assets can be sold. To be more precise, the Law states that a property of minimum value of €500.000 must be kept as a private residence (we
• expect that this condition will be removed; anyway this private residence can be rented out and generate rental income for investor)
• No donation to the Cyprus government
• No history and language proficiency tests

Investment options

An investor is free to choose where to invest from a wide choice of options:

• Residential properties
• Commercial properties
• Development projects
• Purchase or creation or participation in Cypriot businesses or companies
• Investment funds, financial assets of Cypriot businesses or organizations
• Government bonds (maximum €500.000; the balance €1,5mln should be invested in other options like property)
• Combination of the above options

Requirements for investors

An investor must meet the following requirements:

• The minimum investment amount is €2mln
• Keeping investments for a period of minimum 3 years
• Clear criminal record for applicant, spouse, adult children and parents
• The investor must own a private residence(ies) in Cyprus, purchased for at least €500.000. If investments are made into residential property(ies), this requirement is not applicable
• The investor must be the holder of a residence permit in Cyprus to qualify for receiving the Cyprus Citizenship. For this purpose, he/she should submit an application for a residence permit, which will be issued simultaneously with the filing of the Citizenship application. The obtaining of residence permit is a formality due to EU regulation. There is still no requirement for the investor to live in Cyprus.

After surpassing the economic crisis, Cyprus has become an investment destination for foreign companies wanting to expand due to the Cypriot benefits for foreign investors, the geographical position, the cheap and qualified workforce and transport and communications system.

Reasons to invest in Cyprus

Foreign companies looking for an investment opportunity must take into consideration Cyprus as it is an EU member state since 2004 thus providing investors with access to the EU market. Another reason to invest in Cyprus is its geographical position between Europe, Africa and Asia that serves as a gateway between continents. The Cypriot taxation system, the labor force and the pro-investment climate are also important reasons for investing in Cyprus. Cyprus also provides a good environment for people wanting to obtain residency in Cyprus as they can purchase real estate properties at very good prices and the quality of life is very high.

Business environment in Cyprus

Among the most important advantages for doing business in Cyprus are the flexible taxation system, the banking system and the insurance networks, all of these at very competitive costs. Foreign entities wanting to invest in Cyprus will benefit from low start-up and operations costs. The Cypriot government has set pro-business legislation in order to help the investors that consist in tax incentives, residence and work permits.