Cyprus Citizenship by Investment: Everything You Need to Know*
Cyprus, a beautiful Mediterranean island renowned for its rich history, modern infrastructure, and business-friendly environment, offers an exceptional opportunity for investors and entrepreneurs through its Citizenship by Investment Program. If you are looking to secure a second passport and enjoy a wide range of global benefits, Cyprus provides one of the most attractive citizenship programs in Europe.
In this comprehensive guide, we will walk you through the Cyprus Citizenship by Investment Program, its benefits, eligibility criteria, and the process of acquiring Cypriot citizenship.
Why Choose Cyprus Citizenship by Investment?
Cyprus offers one of the most sought-after citizenship programs globally, providing several advantages for investors, business owners, and their families. Here's why you should consider applying for Cyprus citizenship through investment:
1. Access to the European Union
Cyprus is a full member of the European Union (EU), and obtaining Cyprus citizenship grants you the right to live, work, and study in any EU country. This opens doors to new business opportunities, enhanced mobility, and the freedom to travel without restrictions within the Schengen Area.
2. Strategic Location
Located at the crossroads of Europe, Asia, and Africa, Cyprus is an ideal hub for international trade, investment, and business operations. Its favorable geographical position makes it a prime location for global business expansion.
3. Visa-Free Travel
A Cyprus passport allows visa-free or visa-on-arrival access to more than 170 countries and territories, including the Schengen Area, the United Kingdom, Canada, and Australia. This makes Cyprus citizenship highly desirable for frequent travelers and global business professionals.
4. Favorable Tax Regime
Cyprus offers one of the most attractive tax systems in Europe. The country has low corporate tax rates, tax exemptions on dividend income, and a network of double taxation treaties, making it an ideal location for international investors and businesses.
5. Dual Citizenship
Cyprus allows dual citizenship, meaning you can maintain your original nationality while enjoying the benefits of Cypriot citizenship. This flexibility is particularly important for individuals who wish to retain ties to their home country.
Cyprus Citizenship by Investment Requirements
To qualify for the Cyprus Citizenship by Investment Program, applicants must meet specific investment and eligibility criteria. Below are the primary requirements:
1. Minimum Investment Amount
Applicants must make a qualifying investment in one of the following areas:
- Real Estate Investment: A minimum investment of €2 million in residential, commercial, or mixed-use property in Cyprus.
- Other Investment Options: Applicants can also invest in Cyprus businesses, government bonds, or other approved ventures. The total investment amount must be at least €2 million, and it must be maintained for a minimum of five years.
2. Proof of Clean Criminal Record
Applicants must provide a certificate of no criminal record from their country of residence and from Cyprus. A clean criminal record is essential for eligibility.
3. Financial Stability
Applicants must prove their financial capability to make the required investment and support themselves and their family members. Proof of legal sources of wealth is also required.
4. Residency Requirement
Applicants are not required to reside in Cyprus before or after obtaining citizenship, but they must visit Cyprus at least once during the application process.
5. Dependents Eligibility
Spouses, children under the age of 18, and children up to the age of 28 (if they are full-time students) can be included in the application. Parents of the main applicant can also be included under certain conditions.
How to Apply for Cyprus Citizenship by Investment
The process of obtaining Cyprus citizenship through investment is straightforward and involves several stages:
1. Choose Your Investment Option
The first step is to decide which investment route suits you best. You can invest in real estate, business ventures, or other government-approved projects.
2. Prepare and Submit Your Application
Once you have decided on your investment option, the next step is to submit your application to the Cyprus Citizenship by Investment Unit. Your application will include all the required documents, such as proof of identity, financial records, police clearance, and details of your investment.
3. Due Diligence Process
Cyprus authorities will conduct a thorough due diligence check to assess the applicant’s background, financial standing, and sources of wealth. This ensures that the program is being used by reputable individuals.
4. Investment Confirmation
Once your application passes the due diligence process, you will need to finalize your investment and submit proof of the investment’s completion.
5. Citizenship Approval
After the final approval from the Cyprus government, you will receive your Cyprus citizenship, including a Cypriot passport, which you can use for travel, business, and other benefits.
Benefits of Cyprus Citizenship
Cyprus citizenship offers a range of advantages, making it a highly appealing option for investors and their families:
1. Enhanced Mobility
With a Cyprus passport, you gain access to visa-free or visa-on-arrival travel to over 170 countries, including the Schengen Area, the UK, and the US. This is a key advantage for frequent travelers and global business professionals.
2. Access to High-Quality Healthcare and Education
As a Cyprus citizen, you will have access to the country’s excellent healthcare system and educational institutions. Cyprus is home to several internationally recognized universities and world-class medical services.
3. A Safe and Stable Environment
Cyprus offers a high standard of living, political stability, and a strong legal framework. It is one of the safest countries in Europe, making it an attractive destination for families and businesses.
4. Tax Efficiency
Cyprus offers one of the most favorable tax regimes in Europe, including exemptions for international businesses, low corporate taxes, and favorable tax treaties with other countries.
5. High Standard of Living
Cyprus is known for its Mediterranean lifestyle, pleasant climate, and beautiful landscapes. It offers a great quality of life, with excellent infrastructure, modern amenities, and a thriving expat community.
Conclusion
Cyprus offers an exceptional opportunity for individuals seeking a second citizenship with numerous benefits, including visa-free travel, business advantages, and a high quality of life. The Cyprus Citizenship by Investment Program is one of the most popular and attractive citizenship options in Europe, with straightforward requirements and a fast-track processing time.
If you are interested in obtaining Cyprus citizenship by investment, VNZ.SU can guide you through every step of the process. Contact us today for a consultation and start your journey towards acquiring Cyprus citizenship.
Call now at +79100007020 for expert advice!
* The program is currently suspended
How to obtain Cyprus citizenship
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1. Preparatory stage
10 days
Regardless of which option you choose, you need to take care to collect documents confirming an investment in one of the structures of the country. These may be documents:
- on the ownership of government bonds;
- the ownership of financial assets of a certain company in Cyprus;
- agreement of sale and purchase;
- a statement from the bank about the presence of a deposit in your name and its size;
- about opening of own enterprise, the value of which is not less than 5 000 000 euros, etc.
In order to receive them, it is not enough just to pay. For example, if you chose to invest in real estate, then you need to take care of its re-registration in your name and confirm the ownership. It is necessary to do all this within 3 months from the date of signing the agreement of sale and purchase . But sometimes the government makes concessions to applicants and accepts documents on citizenship even if there is a certificate stating that the contract has been submitted for registration to the Department.
With such documents, you can begin to collect the rest of the documentation. Its list is quite large and may differ in each case. That is why it is better to clarify all the details with specialists. But still there is a basic standard to be followed.
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2. The second stage: the collection and submission of documents
20 days
To begin with, the applicant fills in the questionnaire of the M127 form and must be in English. Attached to it are:
- certificate confirming that you were not prosecuted;
- purchase agreement, bank statement or other document confirming the investment;
- title deed or certificate from the Department;
- statement confirming the stay in Cyprus the required number of days;
- receipt of payment of state duty;
- two postage stamps.
You will also need a standard set of documents: a passport and a photocopy of its pages, two photos, permission to enter and stay in Cyprus, a marriage certificate, a birth certificate of children. In the case of a property purchase, a payment order confirming the fact of full payment and a property valuation certificate from an independent appraiser, which will confirm the value of the apartment or house purchased, may be required from you.
A full package of documents is sent to the Ministry of Internal Affairs and the Ministry of Finance. These bodies inspect the residents and all of its documentation, after which they give preliminary approval.
At this stage it is very important to enlist the support of a lawyer. It is the specialist who will help you to correctly assemble the package of documents and fill in the questionnaires in an appropriate manner, since even minor errors, in your opinion, can because of failure. You may also need the services of a translator and a notary, since all documents must be translated into English. Copies are notarized.
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3. The third stage: submission of documents for citizenship
10 days
The applicant may submit the documents personally or through his guarantor, who can be a qualified lawyer from a company specializing in obtaining Cypriot citizenship. In the latter case, you will need to write out a power of attorney from a notary, which confirms that you trust the submission of documents on your behalf. In the future, he can also act on your behalf and resolve all issues and nuances. If this is a reliable specialist, he will always keep you up to date and act only after having discussed all the details with you and having received your consent.
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4. Stage Four: Waiting for Results
4 months
Usually The Ministry of Finance and the Ministry of Internal Affairs examine the documents of the applicant within three to four months. However, sometimes this process can take up to six months. Such a delay may be due to the lack of the necessary documents, the need to re-register any document, incorrect filling in of the form or the requirement of the authorities to submit additional documents for stronger verification. Nevertheless, any problem is solved easily if a qualified lawyer leads the case. With it, you can avoid red tape with documents.
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5. Fifth stage: obtaining a passport of a citizen of Cyprus
1 month
After receiving a positive response, the applicant must come to Cyprus within 3 months. This period is given for the applicant to register a certificate of naturalization issued by government services and receive an identity document. After that, he can apply for the naturalization of minor children. It will be reviewed within three weeks. But you can bring them to issue an identity document at any time. There is no time limit in this case. With adult children, the situation is different. An application for their naturalization is accepted only after payment of state duty in the amount of about 2 thousand euros. It is considered for two months. After receiving a positive decision, the recently minted citizen of Cyprus will have to pay about 5 thousand euros of state duty. Next, adult children will have to visit the country within three months and receive a certificate of naturalization and a passport.
