Strategically located at the crossroads of three major continents, Europe, Asia and Africa, the small island of Cyprus has earned a reputation as financial center and a modern, cosmopolitan business hub.
As the third most populous island in the Mediterranean, Cyprus boasts an abundance of investment opportunities across a wide range of sectors. The island is considered to be an investment gateway into the European Union, as well as a portal for investment outside the EU, particularly into the Middle East, India and China. In addition, Cyprus has a competitive tax regime with the lowest corporate tax rate in Europe, and advantageous double tax treaties with 45 partner countries.
Moreover, the Cyprus government offers considerable incentives to investors, particularly through the Citizenship by Investment and Permanent Residence Program. Through these programs, third country nationals are eligible to become Cypriot citizens, or are granted permanent residence, through investment in real estate, land development, or infrastructure projects
The Eligible Investments
Applicants who satisfy the criteria for applying for Citizenship must:
The application for the Naturalization by Exception needs to be submitted at the Ministry of Interior.
The list of the necessary documents is as follows:
Applicant’s personal documents:
Immigration Application Form / Birth Certificate / True Copy of passport / Certificate of Clean Criminal Record from the country of origin and the country of residence (if different) / Marriage Certificate or Civil Partnership Certificate / Two passport size photographs / Curriculum Vitae / Copy of Residence Permit in the Republic of Cyprus / Residence in the Republic of Cyprus / Contract of Sale as a proof of residence in Cyprus / Proof of payment of the agreed purchase price / Copy of the wire transfer to a Cypriot commercial banking institution in the name of the seller.
Examination procedure of an application
Once an application is submitted the examination process begins. Provided that the application is dully submitted and accompanied by all the necessary supporting documents and the investor meets the criteria and conditions, the time frame for the completion of the process is approximately 3 (three) months. It should be noted that the application submission date is the date on which the submission fees were paid that is noted on the receipt issued by the Cashier’s Office of the Ministry. Once the application is approved, the applicant will be able to take all actions for the acquisition of the Citizenship and the issue of a Cypriot passport. The procedure for the acquisition of the Cypriot citizenship will be completed, provided that the applicant holds a residence permit for a period of at least 6 (six) months. If the applicant does not hold a residence permit for the aforementioned time period, he/she will need to wait until the six- month period is completed. Afterwards, the Civil Registry and Migration Department issues the Certificate of Naturalization, following payment of the Naturalization Certificate issuing fee. Subsequently, the applicant will need to give the Oath of Faith to the Cypriot Republic before a Registrar of a Cypriot court or a consular officer of the Republic of Cyprus. Once this procedure is completed the applicant will be able to acquire a Cypriot passport and Identity Card.
Acquisition of an Immigration Permit
Please note that prior to the naturalization as Cypriot citizen, the applicant must hold a residence permit in Cyprus (as explained above). For the issuance of the Immigration Permit the collection of the applicant’s biometric data (fingerprints and photograph) and signature is mandatory. In order for the biometric data to be collected the applicant is required to appear in person at the Civil Registry and Migration Department. Moreover the applicant needs to present an original travel document. After the collection of the biometric data, the Immigration Permit (card) is issued within five working days.
Whole Family Acquires the Cypriot Citizenship
The Applicant, his spouse and dependent children can acquire Cyprus citizenship based on the Applicant’s investment, and everyone shall enjoy the same rights and benefits.
Cyprus passport holders automatically become EU citizens and are entitled to all rights, benefits and freedoms which EU guarantees amongst its’ citizens – see more details below under EU Passport Benefits.
Free Travel Visa
Cyprus passport holders have free access to all 28 EU countries and to other over 150 countries and regions in the world.
Basic Education – Public primary schools are free of charge in Cyprus, for Cyprus passport holders. Higher Education – Higher education in public universities are free of charge in Cyprus, for passport holders, and they further are entitled to discounted education in private universities. Rights of Voting and Being ElectedCyprus passport holders can vote in the local and national elections or can serve as electees to create a promising future.
No matter where you live in the EU, as a citizen of European Union Cyprus passport holders enjoy the privileges of EU membership, including EU programs on welfare, medical care, citizen and human rights, education. It further provides discounted university education in any EU state, including the UK, France and Germany
Cyprus passport holders can live in any EU member state they wish to live, without restrictions or bureaucratically approved conditions. EU passport means “United EU Member States” according to the EU regulations on freedom of movement.
Cyprus passport holders have no immigration limits in seeking job opportunities in any EU country.
Wherever you live in the EU, there you will be taxed. So, its’ up to the Cyprus passport holder to choose which EU country fits’ him/her more according to their tax incentives, or otherwise.
EU medical facilities probably are some of the best you can find. Cyprus passport holders can enjoy them without limits or restrictions.
EU passport holders can enjoy high standards of higher, postgraduate or other type of education in any EU member state.
Limassol, the second largest city in Cyprus, is famous for its vibrant atmosphere and high quality Limassol, the second largest city in Cyprus, is famous for its vibrant atmosphere and high quality of life, as well as its thriving commercial center that caters to a large and diverse international community. Spread out across a beautiful azure coastline, Limassol encompasses everything one looks for in beachside town, combined with the air of a cosmopolitan city. It boasts some of the region’s best private schools and hospitals, a stylish marina, and a bustling designer shopping district. Thanks to 340 days of sunshine, and a contagious, buzzing liveliness, Limassol residents can enjoy a plethora of activities – from soaking up rays on the beach, an evening of fine dining at international restaurants, to a range of watersports, cycling, or a drive through the Troodos Mountains and picturesque villages. This eclectic mix is what makes Limassol an ideal place to live, all the while enjoying the peace of mind that comes with living in one of the safest cities in Europe.