Citizen By Investment

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CYPRIOT CITIZENSHIP AND RESIDENCY PROGRAMME FOR NON EU REAL ESTATE PURCHASERS

General Requirements:

In order to be eligible to obtain Cypriot Citizenship, a non-Cypriot citizen may opt to invest either individually (directly or through company ownership) by investing a minimum of €2 million in any one of the investment areas listed below:

1. Investment in real estate of at least €2 million including one property for permanent residence, of at least €500,000

2. Participation in Cyprus companies: the applicant must be the shareholder or the ultimate beneficial owner of a company (or companies) based in Cyprus and the management of which must be situated in Cyprus. The company must employ at least 5 Cypriot or European citizens.

3. Investment in Alternative Investment Organisations or in assets of Cypriot Companies: the applicant must invest €2 million in Alternative Investment Organisations licensed by CySec or in the assets of Cyprus companies.

4. Combination of the above (+ bonds): the applicant must invest in a combination of the above options and in addition, under the combination option, may invest in government bonds for the amount up to €500,000.

Numbers 2 – 4 inc, plus €500,000 residency, making an investment of €2,5M

Benefits of Cypriot Citizenship

· No residency requirement · Right to work and live in 28 European Countries · Dual Citizenship allowed · Passports issued six months after Permanent Residency granted 

Government Fees for Citizenship Application

· Investor pays €2,000 at the time of submission and €5,000 on approval · Spouse pays €2,000 at the time of submission and €5,000 on approval · Adult child (up to 28 in 1st degree education) pays €2,000 at the time of submission and €5,000 on approval · Minor children €80 at the time of submission. No approval fee · Example Cost: Husband, wife, one adult child and one minor child pay a total of €21,080 Permanent Residency (without Citizenship application) The applicant must prove that he/she has at her disposal a secured minimum annual income of at least euro 30,000 and a further euro 5,000 for each dependent person.    The acquisition of a property of a minimum market value of euro 300,000   This has to be a new property (resales do not qualify)    

Residency: €300,000 investment in real estate   Annual income €30,000 main applicant and €5,000 each dependent derived from abroad   €30,000 must be lodged with a Cypriot bank for a minimum period of 3 years   The applicant must show a contract for a minimum price of €300,000 with proof of   Payment for at least €200,000 plus VAT   Property has to be one that is being sold for the first time not a resale ??   Clean criminal record certificate from their home country   The applicant is not entitled to work in Cyprus or form a business   The applicant must visit Cyprus at least one every two years   Applications are approved by the Immigration Control Board and take 1 – 2 months      

Citizenship: €5,000M investment (an individual) or collective €2,500M x 5 = €12,500M  Applies to Main applicant, spouse and financially dependent children (1st degree up to age    28) 

COLLECTIVE – each property investment held separately and lawyers ‘pool’   Applicant may invest in a selection of investments to include: · Government bonds · Financial Assets of Cypriot Company or Organisation · Investment in Real Estate, Land Development or Infrastructure project · Purchase, creation or Participation in Cypriot Business employing at least 5 Cypriot Citizens · Deposit in Cypriot Bank (personal fixed term deposit for min 3 years) · A combination of the aforementioned   In all cases the applicant must maintain a property of €500,000 or more, which will be    declared as his permanent residence, whereas the remaining investment may be sold    after 3 years   Any purchase within the 3 years preceding the Citizenship application will count.    No residency requirement   Right to work and live in 28 European Countries   Dual Citizenship allowed   Passports issued within three months    Fees for Citizenship:   Investor pays €2,000 at the time of submission and €5,000 on approval   Spouse pays €2,000 at the time of submission and €5,000 on approval   Adult child (up to 28 in 1st degree education) pays €2,000 at the time of submission and €5,000 on approval   Minor children €80 at the time of submission. No approval fee   So example, husband and wife and one adult child and one minor child pay a total of €21,080   


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What is the climate of Cyprus like?

With a pleasant Mediterranean climate, fresh food and spectacular landscapes, sea views, a relaxed pace of life, easily accessible and with English as a commonly spoken second language, Cyprus offers plenty of reasons to buy a holiday home for international purchasers.

Cyprus enjoys a Mediterranean climate with long warm, dry summers from May to October and mild winters with occasional rain, lasting from December to February. 

What is Cyprus like?

With 300 days of sunshine each year and mild winters, Cyprus attracts millions of international visitors annually. The low crime rates, clean beaches and the Euro all contribute to the allure of this ancient and interesting country. Easily accessible, it has two international airports connecting the island to more than 260 destinations across the globe.   The island also boasts a rich and varied history. According to ancient mythology, Cyprus is the birthplace of the Greek Goddess of Love and Beauty, Aphrodite, The island is one of the oldest recorded in the world, with eleven thousand years history.    The third largest island in the Mediterranean Sea, the island is located in a strategic position on the eastern-most corner of the European Union. It has a robust, market driven stable democracy, and one of the lowest tax regimes in the EU.  

What is the health care like?

 Medical services in Cyprus are of a very high standard and relatively affordable. Nearby Limassol and Pafos have several modern and well equipped hospitals and clinics with highly experienced medical personal. A 24 hour on call doctor and pharmacy is available at the Resort. With the accession to the European Union, EU citizens can enjoy the same health care benefits as in any European country.   

How do I get to Cyprus?

The islands new International airports are in Larnaca and Pafos with ports in Larnaca and Limassol.  Over 30 airlines operate regular flights to more than 260 international destinations, while shipping services, including cruise lines and cargo, are provided by the island’s merchant fleet, the fifth largest in the world. There is easy access from mainland China via daily flights from Dubai, Abu Dhabi and Moscow. Daily flights from the UAE, Russia, UK and other numerous European destinations  

What are communications like?

Cyprus’ telecommunications facilities rank third highest in the world with direct dial access to over 200 countries as well as modern cellular phone networks and services and advanced internet connections including ADSL. Radio, TV and satellite services are readily available in English as well as many of the world’s major print media in addition to local publications in English.  

What is the economy like?

The economy of Cyprus is dominated by the services sector which contributes about 78% to the country’s GDP. Tourism is the leading economic activities followed by financial services and real estate.