CYPRUS - CITIZENSHIP BY INVESTMENT - Nysa Global

CYPRUS – CITIZENSHIP BY INVESTMENT

About Cyprus and its Immigration Program

Cyprus is a small island located in the Eastern Mediterranean Sea. A former British colony, Cyprus became independent in 1960. It has been a full member of the European Union since 2004, and citizenship of this beautiful Mediterranean Island affords the attractive benefit of EU-wide freedom of movement.

Cyprus offers the quickest, most assured route to citizenship of a European country through the Cypriot Citizenship by Investment program.

Benefits of Becoming a Cypriot Citizen

A Cypriot passport (an EU passport) allows visa-free travel to 173 destinations

Right to own property in an EU member state

Safe and stable political and social environment

Dual citizenship recognized

EU member state can avail all the benefits that EU citizenship offers

Right of work and establishment in all 27 EU countries

Highly qualified English-speaking workforce

No taxes for non resident citizens

Nysa Global's Citizenship by Investment Program for Cyprus:

Program Highlights:

  • Full citizenship with passport is granted to the applicant and family
  • No residency required and granting of citizenship within 9-12 months
  • A simple documentation process for investing your wealth
  • No physical presence requirements – only 2-3 one-day visits will be necessary
  • Adult dependent children up to the age of 28 and dependent parents of the main applicant can be included
  • Citizenship once granted is irrevocable, life-long and can be passed down to generations
  • Applicants are allowed to combine investment options in addition to government bonds
  • Real estate, financial assets and business investments are fully recoverable following a three year holding period
  • No language requirements, medical tests or interview

Need help navigating through the is Cypriot Citizenship by Investment Program? We can help. Get in touch with our immigration expert today!

Cyprus Citizenship by Investment Program Guidance

Everything you need to know about the Cyprus Citizenship by Investment program, from eligibility factors, application process to timeline associated and much more.
  • Requirements
  • Process
  • Timeline
  • Costs

Requirements

Citizenship through investment programs requires a person to make a significant economic contribution to the country. In return, and subject to a thorough application process and careful review, applicants and their families receive full citizenship. All routes to a Cypriot citizenship start with a mandatory donation to the government and then involve an investment of at least €2 million, which the applicant must maintain for at least five years.

Mandatory donations to government funds in Cyprus:

Applicants must make two necessary donations to government funds:
  • €75,000 to the Cyprus Land Development Corporation
  • €75,000 to the Research and Innovation Foundation or investment in a government approved business

This donation amount is above and beyond the minimum investment amount of €2 million.

AND

Mandatory permanent real estate investment:

Of the total investment amount of €2 million, at least €500,000 must be in the form of permanent residence for the prime applicant.

AND
Other Investment options:
Option 1 (Real estate):
Purchase or construction of residential or commercial real estate or infrastructure:
  • Investments in residential real estate must amount to €2 million (including € 500,000 for the purchase of permanent residence).
  • The commercial investment must amount to €2 million (excluding the purchase of a permanent residence of €500,000).

One of the most significant considerations when deciding between residential or commercial property in Cyprus is the tax rate (VAT). A VAT of 19% is levied on commercial properties, while residential properties are subject to a VAT of 5% in the first 200 sq.m. of the first and foremost residential property.
Option 2 (Cypriot business):
Purchase or formation of Cypriot businesses or companies:
  • Invest at least €2 million in a Cyprus business or company, with a minimum of 5 Cypriot employees
Option 3: (Equity or investment bonds)
Investment in financial equity of a Cypriot business or investment bonds:
  • A minimum of €2 million in investment funds validated by the Cyprus Securities and Exchange Commission
A combination of the above investments
The investment (in addition to the government donation of €150,000) must come to a combined value of €2 million (not including the purchase of €500,000 permanent residence). You can choose to invest the €2 million in either one of the options above OR combine two or three of the options to meet the minimum investment level.

Citizenship Process

  • Step 1 Talk to an immigration advisor
  • Step 2 Choose investment options
  • Step 3 Visit Cyprus to view properties and evaluate investment options
  • Step 4 Sign a contract of sale and submit biometrics
  • Step 5 Prepare and submit the citizenship application
  • Step 6 Receive an application approval
  • Step 7 Acquire a Cypriot Passport in 180 days

Timeline

  • 8 - 12 months between submission of application and issuance of passport.

Costs/Expenditure Besides Nysa's Fees

Government processing fees are not included in the total minimum investment for each option.
Other costs and fees:
  • Citizenship by investment application fee - €2,000 per adult applicant (€80 per child under 18)
  • Certificate issuance fee - €5,000 per adult applicant (none for children under 18)
  • Passport issuance fee - €120 per person
  • ID card issuance fee - €30 per person
  • Lawyer's fees - €40,000 per family

Documentation Required for the Cypriot Citizenship by Investment Program

  • Passport from native country
  • Resume of the principal applicant, plus any adult dependents
  • Birth certificate
  • Criminal record certificate of applicant and all dependents
  • Marriage certificate
  • Three passport photographs
  • Documents proving evidence of required investments
  • Due Diligence Report issued through an internationally accepted database

Other programs

Residency by Investment:

Cyprus Permanent Residency is a legal status that grants non-EU citizens and eligible dependents the right to enter and live in Cyprus without restriction. It doesn’t expire and therefore, the owner does not need to update it. It is also known as the Cyprus Immigration Permit or unlimited residency.

As a resident, you:
  • Must visit Cyprus once in two years or your residency permit can be cancelled
  • Cannot work in Cyprus but you can be shareholders in a Cypriot company, which can do business in Cyprus or abroad and receive dividend income from this company
Cypriot permanent residence permit does not give any visa-free travel to any other countries or European Union member states, as it is only for Cyprus.

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What Sets Us Apart

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Migration process backed by experts
98% success rate
No one-size-fits-all approach

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FAQs

Yes, your Cyprus citizenship can be cancelled if you do not fulfil the requirements of the program. For instance, if you sell the required investment before completing five years or if you sell the permanent residence at Cyprus. Your citizenship can also be revoked if it turns out that you were involved in criminal activity.

Yes, you can rent the property that you own in Cyprus.

Cyprus is not part of the Schengen area but joining is currently on the cards. The division between Turkish and Greek Cypriots remains an obstacle.
No, this process is not automatic. After the principal applicant acquires Cypriot citizenship, the main applicant must apply for the citizenship for each minor. Other parents need to give their consent for the child to receive Cypriot citizenship.

Because Cyprus is a member of the European Union, its citizens are automatically European citizens, which means you can live, work or study anywhere in Europe.

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