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The Republic of Cyprus
Citizenship by Investment
Cyprus has now officially suspended its Citizenship by Investment Program (CIP).
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.
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
To be eligible to apply, the Principal Applicant must:
Applications will be denied on the following grounds:
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:
GNI per Capita
Greek, Turkish, English
Euro. 1 € = 1.13 USD
Average all year round of 13°C – 26°C