Advantages of the Cyprus Investment Programme

  • No residence requirement in Cyprus;
  • Having full EU rights; freedom to reside, work, study and travel;
  • 6 months approval period;
  • Visa free travel 157 countries worldwide;
  • Naturalisation is granted to the applicant, the spouse, all financially dependent children up to the age of 28 and the applicant's parents; and is an inheritance right;
  • Investment to be kept just for 3 years;
  • No donations required

Procedure:

1. You must make an investment of €2 million

You will have the option of investing in the following categories:

  • Purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects;
  • Purchase, creation or participation in Cypriot businesses or companies. Any such company should have a tangible presence in Cyprus and employ at least five local citizens;
  • Investment in Alternative Investment Funds (AIF’s) or financial assets of Cypriot companies or Cypriot companies licensed by the Cyprus Securities and Exchange Commission (CySec);
  • combination of the above investments, provided that the total investment will amount up to at least €2,0 million;

Notes:

1. The law requires the mandatory acquisition of personal immovable property by each investor worth at least €500,000 (except where investment is made in residential property/properties worth €2 million)

2. If the applicant has made an investment in Cyprus, 3 years prior to the submission of the application, this can be aggregated into the existing investment.

2. Required documents

  • Application Form fully completed and signed before a Registrar of a Cypriot court or a consular officer
  • Birth Certificate
  • True Copy of passport
  • Certificate of Clean Criminal Record from the country of origin and the country of residence (if different)
  • Marriage Certificate/ Civil Partnership Certificate
  • Copies of advertisements in a daily newspaper two consecutive posts
  • Two passport size photographs
  • Curriculum Vitae

All the documents issued by a foreign authority should be translated to either Greek or English and be duly authenticated.

3. Once the investment has been made

and all below documents are collected then the application shall be submitted at the Ministry of Interior.

RESIDENCE IN THE REPUBLIC OF CYPRUS

  • Contract of Sale
  • Title Deeds or Proof of Registration of the contract with the Lands and Surveys Department
  • Proof of payment of the agreed purchase price
  • Copy of the wire transfer to a Cypriot commercial banking institution in the name of the seller or the seller’s company

1. Investment in real estate, land development and infrastructure projects

  •  Contract of sale
  •  Title Deeds or Proof of Registration of the contract with the Lands and Surveys Department
  •  Proofs of payment of the agreed purchase price
  • Copy of the wire transfer to a Cypriot commercial banking institution in the name of the seller or the seller’s company
  • Investment Plan for the development of the purchased land, if the investment involves the purchase of land under development

2. Purchase or Establishment or Participation in Cypriot Companies or Businesses

  •  Contract of sale
  •  Proof of payment of the agreed purchase price
  •  Certificate of shareholders by the Registrar of Companies
  •  Copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization
  • Specific investment plan
  • Copies of the employment contracts of the Cypriot or European Union citizens employed by the company in which the applicant has invested
  • Confirmation from the Social Insurance Department as to the insurable income of the Cypriot or European Union citizens employed in the company
  • Copy of the Social Insurance Contributions for every Cypriot or European Union citizen employee
  • Registration Certificate (MEU1) or Permanent Registration Certificate of Union Citizen (MEU3) for employees that are European Union citizens

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

  • Title/Titles and other relevant documents of the financial assets / units purchased
  • Copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization
  • Specific investment plan
  •  Confirmation by the CySec.

4. Combination of Investments – Investment in government bonds:

  • Proof from the Public Debt Management Office for the purchase of special government bonds
  • Copy of the wire transfer into a bank account of the Treasury of the Republic of Cyprus.

4. If the application satisfies all the criteria

the Minister of Interior presents the application to the Council of Ministers for final approval.

5. Once the Council of Ministers approves the application

the applicant will be able to take all actions for the acquisition of the Naturalisation. The procedure for the acquisition of the Cypriot passport will be completed, provided that the applicant holds a residence permit for a period of at least 6 (six) months.

6. From that date onwards

the applicant will need to give the Oath of Faith to the Cypriot Republic before a Registrar of a Cypriot court or a consular officer of the Republic of Cyprus. Once this procedure is completed the applicant will be able to acquire a Cypriot passport and Identity Card.