Pace Immigration Globe Logo

Find Your Solution, Expand Your Reach.

The Republic of Cyprus

Citizenship by Investment

Located at a crossroad between Europe, Asia and Africa, Cyprus is a contemporary European nation rich with culture, natural resources and a prominent banking and financial sector. Cyprus has become a leading destination for foreign investors due its perfect Mediterranean climate, English speaking population and the abundance of stunning beaches and scenery among modern infrastructure and cities. The reliable legislative and regulatory framework and stable tax system make Cyprus an ideal country to invest in.

The Cyprus Investment Program

The Cyprus Investment Program is designed to attract high net-worth individuals to settle and do business in Cyprus, and to further promote Foreign Direct Investment. 

Ways of Acquiring Citizenship

Applicants may make four types of investments to obtain citizenship, along with a mandatory donation to the government. The investment options are as follows:

Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation

A donation of a minimum of €75,000 to the Research and Innovation Foundation, or an investment of a minimum of €75,000 in a certified innovative enterprise, or in a certified social enterprise.

Applicants may also choose to invest a total amount equal to 20% of the overall required investment amount in a Cyprus company on the basis that the operation falls within the primary or secondary sector of the economy, or in the sectors of research and development, education, health or renewable energy sources.

AND one of the following options:

Investment of a minimum of €2.5 million in the purchase or construction of building projects, land development projects or infrastructure projects.

Investment of at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five (5) Cypriot or European citizens.

Investment of at least €2 million in the financial assets of Cypriot companies or organizations. This includes, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three (3) years.

Investment in a combination of the above options. The combination of investments must total at least €2 million.

Cypriot Passport

The Cyprus Investment Program offers investors an EU passport with access to approximately 172 countries and territories, visa-free. These include essential business hubs such as Singapore, Hong Kong and Canada.

Benefits of Cyprus and the Cyprus Investment Program

  • Unlimited right to live, work and study in Europe.
  • Visa free access to more than 170 countries and territories, including Singapore, Hong Kong, Canada and many more.
  • Right to own property in any EU member state.
  • English as an official language.
  • Excellent education system as well as quality health care.
  • A steady legislative and regulatory framework
  • Dual citizenship is allowed (No obligation to relinquish current nationality).
  • No language requirements.
  • Low tax rates and free trade within the EU.
  • Rated the safest country in the world with a population under 5 million.
  • A beautiful Mediterranean climate.

Program Requirements

To be eligible to apply, the Principal Applicant must:

  • Be at least 18 years old;
  • Make a donation to the Research and Innovation Foundation, and fulfill one of the investment options 2-5;
  • Have a valid passport;
  • Obtain a Schengen Visa prior to submitting an application;
  • Have property that is not frozen within the boundaries of the EU;
  • Possess a residency permit in the Republic of Cyprus, for a period of six months before being granted citizenship;
  • Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT;
  • In the case that one chooses to invest in residential properties only and one of the residential properties is priced at a minimum of €500,000, then the total investment amount must be €2.5 million;
  • Have made the necessary investments during the three (3) years preceding the date of the application and must retain the said investments for a period of at least five (5) years as of the date of obtaining citizenship.

Applications will be denied on the following grounds:

  • Direct or indirect misrepresentation;
  • If the Applicant has a criminal record.
  • If the Applicant is included in the list of persons whose assets have been frozen as a result of sanctions within the boundaries of the European Union;
  • If the Applicant was refused a visa by an EU member State, or refused under another citizenship program in the EU.

Application Processing Time

Decisions are rendered in 3-4 months on most applications as long as the due diligence report is satisfactory to the Citizenship by Investment Unit. Upon Approval, Applicants have 30 days to make the investment into the National Development Fund or finalize the real estate transaction. Upon receipt of the investment or confirmation of real estate purchase, passports are issued within two weeks.

International Organization Membership

Cyprus is a member of the following international organizations:

  • The United Nations;
  • The Organization of Eastern Caribbean States;
  • The International Monetary Fund;
  • The United Nations Educational, Scientific and Cultural Organization;
  • The Commonwealth of Nations;
  • The Organization of American States;
  • The World Federation of Trade Unions;
  • The International Finance Corporation;
  • The World Trade Organization; and
  • The World Health Organization.

Population

1.18 Million

GNI per Capita

USD$33,609 (2017)

Language

Greek, Turkish, English

Currency

Euro. 1 € = 1.13 USD

Capital

Nicosia

Temperature

Average all year round of 13°C – 26°C

Major Religion

Orthodox Christianity

Government

Republic

Investor

Global Mobility

Invest in your Future and become a global citizen.

Final draw of the year for Saskatchewan Entrepreneur Expression of Interest (EOI)

The Final draw of the year for Saskatchewan’s Entrepreneur Expression of Interest (EOI) was held December 5th. This category enables international entrepreneurs with a temporary…

British Columbia Issues 56 Invitations in latest PNP Tech Pilot Draw

British Columbia invited 56 applicants to apply for the Provincial Nominee Program (PNP) in the latest Tech Pilot Draw, held November 19, 2019. Skilled Workers…

BOOK A CONSULTATION