Citizenship-by-Investment in Nicosia

The Cyprus Investment Programme

The Cypriot government has established a number of incentives to attract foreign direct investment into the country. One of these is the Cyprus Investment Programme, which grants full Cypriot citizenship to wealthy individuals who invest EUR 2.15 million into the country and meet certain other requirements. Successful applicants gain the right to live, work, and study in all EU member countries.

On 15 May 2019, the Council of Ministers revised the existing program and implemented new rules that enable foreign nationals to gain citizenship if they meet certain criteria. The changes include the addition of two government contributions of EUR 75,000 each and an approval time frame of six to eight months.

Any non-Cypriot citizen may apply for the Cyprus Investment Programme if they meet one of the investment criteria presented below. The qualification may either be done personally or through a company or companies in which the applicant acts as a shareholder or as a high-ranking senior manager.

The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million.

Another important requirement that applies, regardless of the investment option chosen, is the purchase and lifetime possession of a property in Cyprus that will be declared as the applicant’s residence in Cyprus. The purchase price of the particular property should be at least EUR 500,000 plus VAT. In the case that the applicant proceeds with the real estate option, this property can be included in the EUR 2 million investment.

Benefits of the Cyprus Investment Programme:

• The right of free movement, freedom to work and study, and security within the social and legal system of the EU
• Benefits for the whole family
• Visa-free or visa-on-arrival travel to 174 destinations including Canada, Hong Kong, Singapore, and the UK
• Completion in approximately six to eight months
• Citizenship passed down to future generations

Procedure

The process of obtaining Cypriot citizenship consists of a series of important steps that need to be implemented professionally and carefully. they manages each step and ensures that they are executed correctly and at the right time, since each part of the process, if not properly handled, can affect the final application approval.

It also helps its clients to identify the most suitable investment opportunities, evaluates all possible investments in relation to potential exit strategies, prepares and submits the application for citizenship to the government, follows up with the authorities while the case is being processed, and receives approval and documents for the clients. We also help clients to manage their properties and provide a further, enhanced menu of concierge services.