“Scheme for Naturalization of Investors in Cyprus by exception”
REDUCED TO €2 MILLION
One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.
Requirements and Conditions
- Fast track procedure: Approval will be issued within approximately 3 months.
- A € 2 million (plus vat if any) – Investment in a single Residence. A single property to be used as a residence at a minimum value of €2 million (plus VAT if any). The residence must be retained by the investors for a period of 3 years. After 3 years the Investor has the right to sell his/her property and buy another one at a minimum value of €500,000 (plus VAT if any).
- A €2 million (plus Vat if any) Investment in a selection of Residential Properties, out of which one property is to be used as a privately-owned permanent residence of a minimum value of €500,000 (plus VAT if any). The remaining €1.5 million can be invested in a range of residential properties only, which may be resold after 3 years.
- The parent’s of the investor may apply for citizenship aﬅer the investor had acquired the Cypriot citizenship and Cyprus passport. They need to hold a permanent privately owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000 (plus VAT if any).
- It is noted that the investor and his/her parents may collectively acquire a residence, provided that the total of this home – property is at least €1.000.000 (plus VAT if any).
- The applicant, prior to his/her naturalization as a Cypriot citizen, must hold a residence permit in Cyprus. If the applicant does not already hold a residence permit, he/she may apply for an immigration permit on the basis of Regulation 6(2) of the Aliens and Immigration Law, simultaneously with the application for naturalization.
- Any Cyprus property or properties purchased during the past 3 years, can also be included in the required investment amount.
- The program applies to the immediate family of the applicant i.e the spouse and dependent children up to the age of 28 if full time university students.
- Applicants must hold a clear criminal record from the country of origin and the country of residence (if different).
- No requirement to physically reside in Cyprus, before/after approval.