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“NATURALIZATION OF INVESTORS IN CYPRUS BY EXCEPTION”
(or CYPRIOT PASSPORT VIA INVESTMENT)

Cancelled in 2020
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“NATURALIZATION OF INVESTORS IN CYPRUS BY EXCEPTION”
(or CYPRIOT PASSPORT VIA INVESTMENT)


Benefits of participating in the scheme

1. Cypriot citizenship is granted to the spouse, to the parents, to the minor children and to the financially dependent adult children of the investor, i.e. students up to the age of 28 that are attending an institution of higher education or children with severe physical or mental disability that renders them unable to work;

2. Full rights to live, work, own and manage business, study and travel in any EU country;

3. Tax free dividends in Cyprus and abroad for non-domicile residents. No inheritance tax, lowest income tax;

4. Visa free travel to 157 countries in the world;

5. Dual citizenship.

TERMS AND CONDITIONS

1) The applicant must have made an investment of at least €2,0 million;

2) The applicant should have made the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least three years as from the date of the naturalization.;

3) Clean Criminal Record and his name must not be included in the list of persons whose assets, within the boundaries of the EU, have been frozen as the result of sanctions.;

4) The applicant must possess a permanent privately-owned residence in Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.;

5) The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus;

6) No requirements regarding actual residing in Cyprus;

7) No language or history exam.


1. Investment in real estate:

The applicant must have made an investment of at least €2,0 million;

Purchase or construction of buildings (residential or commercial) or land with investment plan;

Minimum investment period – three years.


2. Purchase or Establishment or Participation in Cypriot Companies:

Purchase or participation in company established and operating in Cyprus with investment costs of at least €2,0 million.;

The funds must be financing the investment objectives of these companies exclusively in Cyprus, based on a specific investment plan;

The company must have a physical presence in Cyprus, with significant activity and turnover and employ at least five (5) EU citizens, who need to have legally and continuously resided in Cyprus during the five years preceding the application submission date.


3. Investment in Alternative Investment Funds or financial assets of Cypriot companies that are licensed by CySec.:

The applicant must have made an investment of at least €2,0 million;

The investments will be kept for at least three years;

Financial assets of Cypriot companies, such as bonds, bills and securities, issued with the approval of the CySec.


4. Combination of the aforementioned investments:

The applicant must have made an investment of at least €2,0 million;

The applicant may purchase special government bonds of the Republic of Cyprus, up to €500.000;

Investor must retain these bonds for a three-year period.


IMPORTANT: In all cases the applicant must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.


TIME FRAME OF EXAMINATION PROCEDURE

1. Provided that the application is dully submitted and accompanied by all the necessary supporting documents and the investor meets the criteria and conditions of the Decision of the Council of Ministers, the time frame for the completion of the process is approximately 3 (three) months from the day of payment of submission fees;

2. The procedure for the acquisition of the Cypriot citizenship will be completed, provided that the applicant holds a residence permit for a period of at least 6 (six) months. If the applicant does not hold a residence permit for the aforementioned time period, he/she will need to wait until the six months period is completed.


COST OF EXAMINATION PROCEDURE

1. Submitting of the application at the Ministry of Interior - €2.000 application fee.

2. Issue of the Certificate of Naturalization at the Civil Registry and Migration Department - €5.000 issuing fee.


IMPORTANT: The application for the Naturalization by Exception for parents and/or children needs to be submitted at the Ministry of Interior AFTER the acquisition of the Cypriot citizenship by the investor.

Source: Ministry of Interior - “Scheme for Naturalization of Investors in Cyprus by exception”, including amendments as of 13/09/2016

http://www.moi.gov.cy/moi/moi.nsf/All/36DB428D50A58C00C2257C1B00218CAB
 
 


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