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Cyprus Citizenship Program
Overview of Cyprus
The Republic of Cyprus became a member of the European Union on May 1st, 2004, and later joined the Eurozone on January 1st, 2008. The country boasts an enchanting Mediterranean way of life, picturesque beaches, 340 days of annual sunshine, and a warm, welcoming community in a laid-back setting. Cyprus citizenship offers a superior quality of life, modern transportation and infrastructure, outstanding educational institutions, access to top-notch healthcare services, a stable government, and a robust legal framework rooted in British law and fully aligned with EU directives. Due to its strategic geographical location bridging Europe, the Middle East, and Africa, Cyprus has become a preferred business destination for international companies.
Language
Greek & Turkish
Currency
Euro
Total Area
9,251 km2
Capital
Nicosia
Government
Presidential Republic
Population (2024)
1,224,651
Citizenship by Investment Program of Cyprus
The Cyprus Citizenship by Investment program was launched in 2002, allowing foreign investors to acquire citizenship under certain conditions. The Cyprus Passport by Investment is irrevocable and to obtain it applicants are not required to reside in the country or renounce their current nationality. This program provides the fastest route to acquire EU citizenship, with application approvals typically taking 6 to 8 months.
To qualify for citizenship, investors must buy property in Cyprus worth a minimum of €2,000,000 and allocate €200,000 to state funds. After a span of five years, they have the option to decrease their property investment to €500,000, which must be upheld continuously.
Which Family Members Can Be Added in the Same Cyprus Citizenship by Investment Application?
- Spouse
- Dependent children under the age of 18
- Children between the ages of 18 and 28 that are financially dependent on the applicant and studying full-time
- Parents above 65 years old, provided they own a private residence of at least €500,000
Benefits of Cyprus Citizenship and Passport
Cyprus remains a compelling choice for foreign investors due to its strategic location at the crossroads of Europe, Asia, and Africa. The country has cultivated an investor-friendly environment, highlighted by its favorable tax system and the introduction of the ‘non-domicile’ regime. This regime, particularly appealing to High Net Worth Individuals (HNWIs), allows for a tax-free status on worldwide dividends and interest income for a substantial 17-year period.
Furthermore, Cyprus exhibits considerable growth potential in key economic sectors, presenting investors with diverse opportunities. Acquiring Cypriot citizenship not only opens doors to these opportunities but also ensures a lifetime privilege that can be passed down to one’s children and dependents. This secures the right for oneself and the family to reside, study, work, and engage in business activities within Cyprus.
Cyprus passport holders are privileged to numerous benefits:
- Visa-free access to 175 countries and territories, including Schengen zone, EU members, UK and Canada
- Investors have the right to work and live permanently in Cyprus, as well as in any other EU country
- Applicants are not required to live in Cyprus, and only one visit is required to provide biometrics
- Citizenship can be obtained within 6 to 8 months
- Family members can also obtain Cyprus passports, and citizenship can be passed down to future generations
- An attractive tax regime and a booming economy
- European Union citizens’ rights were granted to all Cypriots
Cyprus Citizenship by Investment Options
Real Estate Investment
The Cyprus Citizenship by Investment Program mandates that candidates invest a minimum of €2,000,000 in real estate and contribute €200,000, which is evenly distributed between the Research and Development Fund (or an accredited innovation enterprise) and the Land Development Organization.
Following a five-year period, the real estate investment can be lowered to €500,000; however, investors must uphold this amount for the duration of the applicant’s life. This designated property will serve as the investor’s primary residence in Cyprus, irrespective of whether the individual opts to reside elsewhere.
Real Estate Investment
€2,000,000
Donation to the Cyprus Government Fund
€200,000
Additional Real Estate Investment to include both Parents
€500,000
Processing Fees
€10,000 per applicant over 18 years old
€2,000 per applicant under 18 years old
How to Qualify for Cyprus Citizenship?
- The primary applicant should be at least 18 years old,
- Investors must hail from a third-country nationality and cannot be citizens of the EU/EFTA,
- Candidates must possess a clean criminal record. Both investors and their family members are required to consent to the submission of biometric data,
- While applicants need to be registered as Cyprus residents for a minimum of six (6) months, it’s worth noting that they aren’t obligated to physically dwell in the nation during this period.
Reach us to learn all about Cyprus Program, Application Details and Visa-Free Countries
Over the past several years, the government of Cyprus has been successfully working on expanding its list of visa-free countries.
FAQ’s About Cyprus Citizenship
Is Cyprus safe to visit?
How much does it cost to invest in Cyprus Citizenship?
Applicants are required to invest €2.000.000 into real estate and €200.000 into Government Funds in order to obtain Cyprus Citizenship.
Does Cyprus allow dual citizenship?
Cyprus does allow citizens to hold dual citizenship, so investors are not required to give up their existing citizenship.
How do I get a Golden Visa for Cyprus?
To get a Golden Visa for Cyprus, applicants need to invest €300,000 into brand new real estate bought directly from the developer, which can either be lived in by the investor and his family or rented out. The investment can be split into a maximum of two properties, but the combined value should reach or exceed €300,000.
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