Cyprus Citizenship by Investment

Cyprus grants permanent Citizenship to investors, high-net-worth individuals and their families seeking to become European Citizens under the fastest programme available to date. The Cyprus Citizenship by Investment Programme grants various benefits, including visa-free travel to 159 countries and the possibility to live, study and work in a EU country which has been ranked as the 5th best relocation destination in the world by the international 2013 Knight Frank Global Lifestyle Review.

CBI Cyprus Programme - Top 10 best programmes in the world

Cyprus was the only European country apart from Switzerland which managed to rank within the top 5, outshining destinations such as London, Madrid and Monaco. Moreover, the Cyprus Citizenship by Investment Programme itself was ranked among the top ten best programmes in the world among global immigration specialists. Cyprus and its CBI programme rank so highly because they offer a favourable tax regime to residents, particularly to high net worth individuals. Moreover, Cyprus offers a style of living like no other. With at least 320 days of sunshine a year, Cyprus is an idyllic Mediterranean destination which brings together the serene atmosphere of island life and the high standard of living of a European Union member state.

Read more about the benefits of the Cyprus CBI - Cyprus Citizenship by investment programme

Citizenship by Investment Cyprus 2017

Since September 2016, investors can benefit from an amended Cyprus CBI programme which not only provides fast track Cypriot citizenship, but in the long run proves itself to be the most cost-effective option among all European Citizenship programmes available.

Citizenship by Investment in Cyprus can be obtained within just 6 months, making it the fastest route to an EU citizenship. Affluent individuals with a clean criminal conduct are given the opportunity to become Cypriot citizens and thus to hold a secondary Cypriot passport by contributing to the country’s economic and social development. Successful applicants and their families will be granted a certificate of naturalisation which grants them the possibility of visa-free travel.

Cyprus citizenship by Investment: citizenship within 6 months, fast-track proccess

Cypriot passport within 6 months

One of the main advantages of choosing Cyprus Citizenship by Investment Programme is the possibility of attaining EU citizenship within 6 months, with approval being granted within just 2-3 months. This makes Cypriot citizenship the fastest route to EU citizenship.

Cyprus CBI - Cyprus Citizenship by Investment minimum residency

No Minimum Physical Residency prior to getting a Cypriot passport

Applicants to the Cyprus CBI programme are not obliged to physically reside in Cyprus before, after or during the application process, but are only required to visit Cyprus once to apply for a Permanent Residency Permit. Getting a Cypriot passport does not require the applicant to submit himself or herself and the family to any invasive processes. The process is highly straightforward and does not require the applicant to disclose the source of wealth or funds or submit to any medical testing, and it does not impose any language requirements.

Cyprus Citizenship by Investment: Visa free travel  to 159 countriesVisa-free travel to More than 159 countries via Cyprus CBI

Cyprus is not part of the Schengen Area, however, it is expected to join in the future which entails that all Cypriot citizens, including those who attain citizenship by investment, will be able to benefit from free movement of persons throughout the Schengen area in the future. Currently, a Cypriot passport paves the road to increased mobility by granting visa-free travel to 159 countries.

Ideal for Entrepreneurs seeking EU access – Free movement of goods, services and capital

Cyprus’ strategic location at a cross roads between European Union, the Middle East and Africa and its attainment of EU membership has promoted the island as an ideal investment gateway. Indeed, it provides safe and stable access for non-EU nationals who would like to invest and access the EU market which is made of over 500 million nationals. As an EU member state, Cyprus allows businesses belonging to Cypriot citizens, as well as investors who hold a Cypriot passport to benefit from the free movement of goods, services and capital throughout the EU. Moreover, new citizens will be able to benefit from Cyprus’ tax-efficient regime. The newly introduced ‘non-domicile’ regime provides for zero taxation of worldwide dividends and interest income for a period of 17 years.

Want to know more about the Taxation system in Cyprus? Read our article on Tax implication of Cyprus CBI or visit our dedicated Taxation system in Cyprus section

Transferable to family and descendents

Benefits for your family and descendants under Cyprus CBI

Cypriot citizenship is valid for life, and it is also extended to one’s relatives and transferable onto one’s descendants. In the application, the main applicant who must be at least 18 years of age may include his/her spouse, children under the age of 18, as well as major children (ages 18-27) who are dependent on the main applicant and the parents of the main applicant. Neither the spouse nor the children are obliged to meet any additional financial criteria. On the other hand, when the parents of the main applicant are included in the application, an additional investment in residential real estate of at least €500,000 must be made.

Cyprus Citizenship by Investment: Residency Permit immediate visa free travel

Residency Permit - Immediate Visa Free Access to a number of Schengen Countries

The main applicant, spouse, adult children and parents of the main applicant need to visit Cyprus once to file the application for a permanent residency. Within just 5 days of filing, approval for a Permanent Residency Permit is granted which allows the holder of the permit to travel visa-free to Cyprus, Germany, Italy, France, Netherlands and Luxembourg.

Legal basis for Citizenship by Investment in Cyprus

Following a decision of the Cypriot Council of Ministers in March 2013, Cypriot Citizenship by Investment may be granted to investors in virtue of the “Scheme for Naturalisation of Investors in Cyprus by Exception” on the basis of Section 111A (2) of the Civil Registry Laws of 2002-2013.

Cypriot Citizenship by Investment: Programme Amended in 2016

In September 2016, getting a Cypriot passport has become easier than ever following a number of revisions which made to the programme more attractive to foreign investors. The minimum possible investment was reduced from a €5 million investment in bank deposits in Cyprus to a new minimum investment of €2 million in residential real estate which can be reduced to a €500,000 investment after 3 years. Thus, whilst the €2 million investment is higher than that required by other European citizenship by investment programmes, within just three years, attaining a Cyprus passport by investment becomes the most cost effective option since investors can significantly reduce the amount of capital which they have invested.

Other amendments were carried out which benefit the investor, including the addition of the main applicant’s parents in the application upon carrying out an additional minimum investment of €500,000 in residential property.

Read more about the Cyprus Citizenship by Investment Programme revised in 2016

Eligibility requirements to gain Cyprus nationality by Investment 

In order to be eligible for Cyprus CBI, the main applicant must be at least 18 years of age and must have a clean criminal police record. His or her name must not be included in the list of persons whose property is ordered to be frozen by the EU. The applicant will need to file an application for a Permanent Residency permit in Cyprus prior to approval, and will also need to invest either €2 million in residential real estate which may be reduced to €500,000 after 3 years, or invest €2million in other investment options and a further €500,000 in a main residence which must be kept for life as a proof of the successful applicant's genuine link with Cyprus. Find out if you are eligible for the Cyprus Citizenship by Investment Programme - Cyprus CBI.