Cyprus Citizenship by Investment
In order to enhance the competitiveness of Cyprus to Non – Cypriot citizens who are looking to acquire the Cyprus Citizenship, important changes in the “Scheme for Naturalization of Investors in Cyprus by exception” (on the basis of the Civil Registry Laws 2002-2017) have been made
A non – Cypriot citizen in order to be able to apply for Cyprus Citizenship by Naturalization by exception must meet one of the following economic based conditions, either personally or through a company/companies wherein he/she is a shareholder, or by investment made along with or by his/her spouse, or even as a top ranking member of the management of a company/companies that meet one of the economic conditions.
New economic conditions: A non – Cypriot citizen is able to apply for Cyprus Citizenship by Naturalization upon meeting one of the following conditions.
- Invest in Real Estate, Land Development and InfrastructuresApplicants should have obtained a construction of buildings or construction of property that is related with the tourism sector or to other infrastructure such as residential or commercial development, investing no less than €2 million on the purchase of it. The development plan must be included in the application, considering that the land acquired is not situated in zero development zones.
- Participation, Establishment or Purchase of Cypriot Companies and BusinessesApplicants should have proceeded with an investment of no less than €2 million in participating, purchasing or incorporating in companies and businesses that are established and operating in the Republic of Cyprus. Based on the investment plan, capital invested should be directed to finance the company’s or businesses’ investment goals in Cyprus.Companies and Businesses that receive the investment capital must prove physical presence in Cyprus, must have a noteworthy activity as well as turnover and employ no less than five Cypriot or European Union members citizens, that have legally resided in Cyprus the last five years prior to the application date without any interruptions.
- Investment in Alternative Investment Funds (AIF) or Financial Assets of Cypriot Companies or Organizations licensed by the Cyprus Securities and Exchange Commission (CySec)Applicants should have proceeded with an investment of no less than €2 million from Alternative Investment Funds (AIF) funds that were established, supervised and licenced in the Republic of Cyprus by the Cyprus Securities and Exchange Commission (CySec). These investments should follow the scheme’s criteria and should be approved by the Minister of Finance.In order to confirm that the investments that meet the criteria of the current Scheme will be kept for at least three years, the manager or the auditor of the Fund shall inform in writing and on an annual basis, the Ministries of Finance and Interior with reference to the value of the initial investment.All acquisitions of financial assets of Cypriot companies, businesses or organizations of at least €2 million, such as bonds, bills and securities issued with the approval of the CySec, by companies that have proven physical presence and substantial economic activity in the Republic of Cyprus should be maintained for a period of three (3) years.
- Combination of the Aforementiond Investments:Applicants who have completed a combination of above investments with a total of no less than €2 million, may also proceed with the application.Following the combination of investments, applicants may invest in purchasing special government bonds of the Republic of Cyprus with an amount of up to €500.000, issued by the Public Debt Management Office of the Ministry of Finance, with the condition that the bonds will be retained by the investor for at least 3 years.Terms and Conditions
- Clean Criminal RecordApplicants must have a clean criminal record and not be included in the list of people who’s assets have been frozen as a result of sanctions.
- Residential Property in the Republic of CyprusApplicants should own a permanent privately-owned residence in the Republic of Cyprus with a purchase price of at least €500.000 plus VAT.
- Residence Permit in CyprusBefore the naturalization of the applicant as a Cypriot Citizen must hold a 6-month residence permit in the Republic of Cyprus. If not, the applicant may submit an application for an immigration permit while submitting the naturalization application.
- Investments required for the application must be held for 3 years from the date of gaining the Cyprus Citizenship.
Relians Corporate Services can help foreign investors and entrepreneurs to apply and succeed in acquiring Cyprus Citizenship by Naturalization, by supporting every part of the application and procedures needed, from the most effective and efficient way to invest all the way to helping you fill and submit the required forms of the application.