Cypriot Citizenship for Foreign Investors
With a high standard of living, high quality infrastructure, a temperate climate and strong links to the European Union, Cyprus is a highly desirable place to relocate families and funds to for foreign investors. Recent amendments to Cypriot citizenship has meant that investors can now gain citizenship in the country with greater ease providing that they:
- purchase and maintain a privately owned residence in Cyprus, the value of which must be at least €500,000, excluding VAT;
- have a Clean Criminal Record from the country of origin and/or the Police of the Republic of Cyprus;
- confirm that the applicant’s name is not included in the list of persons whose property is ordered to be frozen by the EU;
- visit Cyprus at least once;
- are 30 years old and over.
If these conditions are met then those looking for citizenship are then only obliged to meet ONE of the following financial criteria:
- By depositing a minimum of €5million into a bank operating in Cyprus for a fixed period of three years. Subsidiaries of foreign owned banks operating in the country are eligible along with local ones but branches are not.
- Certain direct investments of €5million providing that they are one of the following:
- A purchase of Cyprus Government Bonds with a minimum maturity of three years.
- Investment in bonds or debentures registered and issued by Cyprus companies or businesses or organizations, with a minimum maturity of three years.
- Investment in real estate development projects. These can include projects for commercial ends or housing as well as for the tourists industry or infrastructure.
- Purchase, incorporation or participation in Cyprus businesses and companies that are based and operate, as well as having a physical presence in, Cyprus. They must also employ five Cypriot citizens.
A combination of any of the above criteria from either scheme is also acceptable.
- Collective Real Estate Purchase Schemes comprising an investment of €2.5 million per investor, where the total value of the collective real estate investment is at least €12.5 million.
- Impaired deposits of at least €3million. If these deposits come top less than the required €3million then applicants may contribute further investments through a combination of any of the above criteria.
Further advantages of the Cypriot Citizenship scheme are its relatively flexibility in how investments can be effected along with a reasonable degree of return.
For more information on immigration into Cyprus or anywhere else in Europe visit https://www.immigrationintoeurope.com/immigration-services/cyprus-immigration/ or email us at [email protected]