Cyprus Citizenship by Real Estate Investment

cyprus passport
 

Benefits of Cyprus Citizenship – a European Union Country Member

The right to live, work, own and operate a business, travel and study in any EU country.

Cyprus has a low 12.5% rate of Corporate Income Tax plus other tax benefits and allowances.

Availability of modern communications, excellent legal and accounting services.

Visa free travel to 173 countries.

Citizenship is granted to the applicant, the spouse, all financially dependent children up to the age of 28 and the applicant's parents.

There are no language requirements or obligations to live in Cyprus prior or after the application process and obtaining the citizenship.

Cyprus offers a high standard of living, wonderful climate and ecology, one of the safest places in the world to live in and a multicultural environment.
 

How to obtain a Cypriot passport?

Terms of obtaining Cyprus Citizenship through the Purchase of Real Estate.

Minimum investment – €2 million (non-inclusive of VAT, if any) through the purchase of a single property or a number of properties.

The investment in real estate must be retained for a minimum period of 5 years, after 5 years the investment in real estate can be reduced to a minimum of €500,000 (non-inclusive of VAT, if any) in residential property which must be held indefinitely.

Examples of investments under this option:

Purchase one villa for €1.5 mln., and one apartment for 500,000 Euro. Sell the villa in 5 years and keep the apartment.

Purchase one villa for €2 mln. and sell it in 5 years, at the same time purchase one residential property (apartment or house) for a minimum amount of €500,000.

Parents of the main applicant can also be included within the same application, subject to approval of the main applicant, with additional investment of €500,000 in residential property (non-inclusive of VAT, if any).

Applicants are required to donate €100,000 to the Cyprus Land Development Corporation.

Applicants are required to donate €100,000 to the Research and Innovation Foundation.

A valid Schengen visa is required to be possessed by the applicant at the time of application to obtain the Cyprus Citizenship.

A clean criminal record is required.

Upon application, the Cyprus Citizenship is granted within 6-9 months thereafter.
 

Cyprus Passport Acquisition Process

  1. Choose a property. Get in touch with one of our real estate and investment specialists, who will offer you a range of passport properties that match your requirements. Our catalogue includes more than 150 ready and off-plan properties suitable for the Cyprus Citizenship by Real Estate Investment Programme.
     
  2. Make a reservation deposit. After selecting the most suitable properties based on your search criteria, you may plan a property inspection trip to Aphrodite Hills Resort, Cyprus, or request our real estate agent to provide detailed photo and video materials of the property. Please note, that you may sign a reservation agreement and complete property acquisition procedure without visiting Cyprus, however in order to apply for Cyprus citizenship one trip to Cyprus is required to provide biometrics at the Civil Registry and Migration Department (CRMD).
     
  3. Sign the citizenship application and provide biometrics. The investor has to sign the citizenship application in the presence of the registrar in Cyprus court and provide biometrics (investor and spouse), and after that may leave Cyprus.
     
  4. Complete property purchase and submit citizenship application. Within several weeks a property sales agreement is prepared. Once the full payment is made the agreement is deposited in the Land Registry Office. All necessary application documents are submitted to the Ministry of Interior, and the procedure for obtaining citizenship starts.
     
  5. Citizenship approval. In about 6-9 months following submission of the application to the Ministry of Interior, the Cyprus Passports will be issued.