Citizenship

Benefits of Cypriot Citizenship:

• Get the rights of a European Citizen
• Multiple Citizenship are allowed
• Citizenship can be obtained by the whole family
• Eligibility to live; work and study anywhere in the European Union (including Iceland, Switzerland and Liechtenstein)
• Travel to more than 157 countries without a visa
• No inheritance, wealth, gift and immovable property tax
• Ability for the investor to rent out his/her privately-owned residence
• Free movement of capital; services and goods
• Access to some of the highest education and healthcare institutions in the world
• Lowest crime rate in Europe
• Effective tool for family and tax planning

Eligibility:

Non-Cypriot natural persons who meet one of the following criteria, are eligible to apply for the acquisition of Cypriot Citizenship:

• Natural persons, either personally or through a company in which they are participating as shareholders, in proportion to their holding percentage;
• Through investments made by their spouse or jointly with the spouse; and
• As high-ranking senior manager of a company that meets one of the financial criteria as shown below (provided that they receive a remuneration that generates paid tax revenue of at least €100.000 over a period of three years)

Financial criteria:

Acquisition of the Cypriot Citizenship is eligible to the persons who meet at one of the following financial criteria:

• Investments in real estate, land development and infrastructure projects of at least €2 million;
• Investment in financial assets of Cypriot entities or organizations of at least €2 million;
• Investment in Alternative Investment Funds or financial assets of Cypriot companies/organizations that are licensed by the Cyprus Securities and Exchange Commission of at least €2 million; and
• Combination of the above, including investment in government bonds of up to €500.000 with the precondition that the applicant will retain these bonds for a period of at least 3 years

Other Terms and Conditions:

• Further to the above financial criteria, an investor must also own a permanent privately-owned residence in Cyprus of at least €500.000 (plus VAT);
• Investors must be over 18 years of age;
• In the investment is made into residential properties as per the first financial criterion shown above, this requirement is not applicable, if at least one of the units is worth at least €500.000 (plus VAT), provided that the applicant retains the possession of the residence for life;
• Prior to the naturalization, investors must hold a residence permit in Cyprus. If not, the application for a residence permit can be submitted simultaneously with the application for the naturalization;
• The investment in government bonds is restricted to €500.000;
• There is no requirement of residing in Cyprus after acquiring citizenship;
• Investors must hold a clear criminal record from the country of origin and the country of residence (if different); and
• Name of the investors must not be included in the list of persons on whose name there is a freezing or confiscation order of property within the boundaries of the EU.

Family members:

• Spouse/partner – may acquire the Cypriot Citizenship. Application may be filed simultaneously;
• Minor children – dependent children up to the age of 18 may apply, after the investor acquires the Cypriot Citizenship and provided that the other parent consents to the grant of the Citizenship;
• Adult financially dependent children – eligible to apply for Citizenship if they are students up to the age of 28 or children with severe physical/mental disability that prohibits employment; and
• Parents – may also apply for Citizenship after the investor has acquired his/her Citizenship, provided that they own a private residence of at least €500.000 (plus VAT) or collectively acquire one residential property with the investor of a total value of at least €1 million (plus VAT).

On February 13th, 2019, Cyprus Cabinet approved a series of changes to the Cyprus Investment Program, based on which, non–Cypriot entrepreneurs/ investors and members of their families may submit applications for partaking in the Program. The changes will be applicable as from May 15th, 2019 onwards. Amendments are available here.

Download our Cyprus Citizenship Guide and get all the information you need to know about the Cyprus Citizenship Program.

Benefits of Immigration Permit:

• Immigration Permit is permanent and there is no need for future reconsideration
• Permit applies to the whole family
• Cyprus Permanent residents have the right to apply for a Cypriot passport, provided that they physically present in the country for a total of 5 years within a period of 7 years
• Once a Permanent Immigration Permit is obtained, the applicant and his family as included in the permit will be entitled to apply for a Schengen Visa through any Schengen European Embassy.
• Lowest crime rate in Europe
• Ideal family environment
• No inheritance, wealth, gift and immovable property tax
• Access to some of the highest education and healthcare institutions in the world

Eligibility:

All third country nationals who meet the criteria as set below, are eligible for acquiring an Immigration Permit for Cyprus.

Financial Criteria:

Application for acquisition of an Immigration Permit is eligible to a non-Cypriot citizen who meets the following criteria:

• Deposit minimum capital of €30.000 into a bank account in Cyprus, which will be pledged for a period of at least three years. After the expiration of this period, the money will be released without restrictions;
• Provide evidence of a secure annual income of at least €30.000 deriving from abroad (plus €5.000 for every dependent person – i.e. spouse or children – and €8.000 for every dependent parent or parent-in-law); and
• Purchase of new immovable property of a total market value of at least €300.000 (plus VAT). Payment receipts submitted with the application should amount to at least €200.000 (plus VAT).

Other Terms and Conditions:

• The Immigration Permit does not allow the undertaking of any form of employment in Cyprus;
• Holders of an Immigration Permit must visit Cyprus once every two years

Family members:

• Spouse and financially dependent children – Immigration Permits are also issued for the investor’s spouse and all financially dependent children (up to 18 years old – or between 18 and 25, provided that they are unmarried or students), upon payment of the relevant fee;
• Parents/Parents-in-law – may also be granted an Immigration Permit with the submission of an application and payment of the relevant fee; and
• Non-financially dependent children – Immigration Permit may also be granted to non-financially dependent children over the age of 18, provided that the market value of the acquired real estate attributed to each child is at least €300.000 (plus VAT)