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EU Passport, Obtaining Cyprus Citizenship & Immigration Permit

Attracting foreign direct investment is at the heart of Cyprus’ development strategy, as it represents a key driver for economic growth, amidst today’s constantly changing international environment. In line with this policy, the Cyprus government has introduced two schemes for granting foreign investors Cypriot Citizenship and an Immigration Permit to Cyprus.

Naturalisation of Investors in Cyprus by Exception

The following non-Cypriot natural persons may apply for the acquisition of the Cypriot Citizenship:

Investment in real estate, land development and infrastructure projects of at least € 2m.

Prior to the naturalisation, 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 naturalisation.

In addition to the above investment requirements, an investor must also own a permanent privately owned residence in Cyprus of at least €500.000 (+VAT).

If investment is made into residential properties, as per the first financial criterion, this requirement is not applicable, if at least one of the units is worth at least €500.000 (+VAT), provided that the applicant retains the possession of the residence for life

There is no requirement of residing in Cyprus after acquiring citizenship.


WORK & LIVE IN EUROPE


VALID FOR LIFE


HAVE A BUSINESS IN CYPRUS


GRANTED TO ALL FAMILY MEMBERS

Family Members

All third country nationals who meet the criteria and terms set out in the scheme are eligible for acquiring an Immigration Permit for Cyprus:

FINANCIAL CRITERIA:

A non-Cypriot citizen, who meets the following criteria may apply for the acquisition of an Immigration Permit:

Deposit minimum capital of €30.000 into a bank account in Cyprus, which will be pledged for a period of at least three years

Provide evidence of a secure annual income of at least €30.000 (+€5.000 for every dependent person – spouse and children – and +€8.000 for every dependent parent or parent-in-law)

Purchase residential real estate of total market value of at least €300.000 (+VAT). Payment receipts submitted with the application should amount to at least €200.000 (+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: The applicant’s parents may also be granted an Immigration Permit with the submission of an application and payment of the relevant fee

Non-financially dependent children: An Immigration Permit may also be granted to non-financially dependent children of the applicant over the age of 18, provided that the market value of the acquired real estate attributed to each child is at least €300.000 (+VAT)

REASONS TO OBTAIN CITIZENSHIP

Dual citizenship means that you have citizenship of two countries, with all of the associated rights – and obligations. Dual citizenship of a country with a good international reputation, like Cyprus, offers many benefits for high net worth individuals.

  1. Cypriot Citizens just like any European have the freedom to work, live and travel in Europe.
  2. Dual citizenship offers perks such as financial privacy.
  3. European passports allow travel without visa to more than 140 countries.
  4. European passport holders can obtain visas for other countries cost effectively and quickly.
  5. European passport holders have access to the best healthcare institutes and education.
  6. European passport holders are safe-guarded politically throughout Europe.

Dual citizenship has nothing to do with national loyalty – it is simply a legal way to protect yourself, your family, and your assets from unexpected events. In reality, a second citizenship and second passport are like insurance. When you really need it, it could be too late.

EU TRAVELING BENEFITS

A Cypriot passport makes travel effortless in the European Union and much easier for those wanting to travel wider afield.

Holders of a passport issued in an EU country are entitled to enter, reside, study or work in any country within the European Economic Area (that is, EU countries plus Iceland, Liechtenstein and Norway), as well as Switzerland – without the need for a visa.

In addition, holders of Cypriot passports can travel visa free to more than 140 countries.

PERMANENT RESIDENCY IN CYPRUS

Now, third country nationals who buy property in Cyprus for personal occupancy are favoured in regard to the obtaining of permanent residency permits, enabling their full or part time stay in Cyprus. This incentive applies to non-EU nationals acquiring property for personal occupancy in Cyprus of a value not lower than €300,000 + VAT and falls under the name of Category F Visa.