Cyprus offers an ideal location for foreign direct investment, and this is largely due to the citizenship by investment programme established by the Cypriot Government. Under this program, investors interested in purchasing more than €2 million in real estate are granted Cypriot citizenship. This would give you permission to work in all 28 EU member countries, enjoy Cyprus’ high standard of living, social security and legal protection in EU courts, study in the best schools and universities, and receive the highest health care quality.
As of 13 September 2016, the minimum investment amount required in order to be eligible for the citizenship-by-investment program has been reduced to €2 million (from €2.5 million) by the Council of Ministers of the Republic of Cyprus.
There are a number of paths to naturalization – if you have Cypriot origin or roots, if you have a Cypriot spouse, if you’ve lived in Cyprus for over seven years, and finally, via investment.
Our investment immigration packages are uniquely tailored to your needs – this means that we help clients identify the most suitable investment opportunities based on your requirements, as well as prepare and submit applications for citizenship on behalf of our client. We also help clients to manage their investment and provide further administration, legal and accounting/bookkeeping services.
What are the criteria for the citizenship by investment program?
- Ownership of residential property amounting to a total minimum value of €2,000,000+VAT for the duration of at least three years.
- Investment in shares, bonds, or funds of €2 million+VAT registered and issued in Cyprus.
- A tangible business presence delivering products or services in Cyprus and complying to statutory obligations, including VAT and corporate tax payment and Inland Revenue registration. This also includes the employment of at least five Cypriot or EU citizens.
- The applicant may invest in a combination of the above, provided that the total investment amounts to at least €2 million+VAT. However, regardless of the investment options chosen, purchase of property of at least €500,000+VAT that will be declared as the applicant’s residence in Cyprus, is necessary. This can be included in the €2 million investment.
What are the key benefits of Cyprus citizenship?
- EU membership – enhances your business opportunities and freedom of movement by giving you an unrestricted right to live, work and travel visa-free in the EU.
- Tax planning – you don’t have to be a taxpayer to get citizenship, but are still able to enjoy the favourable tax regime that Cyprus offers, including a low corporate tax rate (12.5%) and no foreign source income taxation. Non-dom status releases you from a variety of personal taxes from 3-30%, including international dividend income.
- No strict requirements for the knowledge of native languages or history in the form of exams or other tests.
- Flexible options with no residence requirement, citizenship granted within three months and is transferable to all descendents.
- Dual citizenship is permitted.