How to get EU Cypriot passport by investment
Under the citizenship law adopted on 19 March 2014, investors and their families can obtain in
Cyprus Citizenship by Naturalization.
The fast application process saves a lot of time for investors and their families, who can now get a
Cypriot (EU) passport in just 3-4 months.
The process is simple and straightforward. Cyprus is one of the few EU countries offering citizenship directly, without residency requirements. In other countries, applicants must first obtain a residency permit and, after a period of five to ten years, may file a new application for citizenship. The Cypriot system has transparent procedures based on economic criteria and the requirement of a clean criminal record.
Passport of a Cyprus citizen is an EU passport;
- The process takes 3 months;
- An investor gets a Cypriot passport for himself/herself, his/her spouse, parents and dependent children under the age of 28, provided they are full-time students. Grandchildren may also obtain citizenship;
- No need to live in Cyprus;
- No need also to take history or language exams;
- The governement of the Republic accepts
dual citizenship in Cyprus;
- Profits of Cypriot companies are taxed at the rate of 12.5%;
- The tax treaty helps avoid double taxation;
- Citizens have the right to attend schools or universities in all EU countries for free, or at state-subsidized rates;
- Cypriot passport holders are entitled to visa-free travel to over 140 countries. It is also easy to obtain visas to other countries, such as the US;
- Benefits of a modern EU are leading healthcare system;
Economic Criteria of
Citizenship by Investment Program in Cyprus
The applicant must directly invest not less than €2 million and purchase:
- Real estate, including residential, commercial and accommodation properties or projects of a similar nature;
- Companies or businesses in the Republic of Cyprus;
- Financial assets: securities, bonds authorized and issued in Cyprus;
- Holdings in a company or a consortium of companies which operates a public project;
- Personal deposits of at least €2 million for three years in banking institutions of the Republic of Cyprus or deposits of private companies beneficially owned by the applicant.
- An investor is entitled to obtain Cypriot citizenship if he/she has a combination of the above totalling at least €2 million. A minimum duration of investment is 3 years.
The investor must also meet the following conditions:
- Clean criminal record certified by the authorities of his/her country of origin;
- Confirmation that the applicant is not named on the list of persons whose assets must be frozen within the boundaries of the European Union;
- Ownership of a permanent residence in Cyprus, purchased for at least €500.000 plus VAT. This residence must be kept for life;
- The applicant does not become a Cypriot resident for tax purposes unless he/she spends in Cyprus more than 183 days of a year.
Dual citizenship in Cyprus
Having dual citizenship, particularly in the EU, is very beneficial for many reasons:
- Cypriot citizens enjoy the freedom to live, work and travel anywhere in Europe;
- Cypriot passport holders can travel without visas to more than 140 countries;
- Cypriot passport holders can easily obtain visas for other countries, such as the US.