Cyprus Citizenship

Dr. Jean-Philippe Chetcuti | 11 Nov 2016

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The Cyprus Citizenship by Investment Programme is considered to be one of the most attractive in Europe, and it is ranked amongst the ‘top ten in the world’ by global immigration experts. This is because the Program does not have a residency requirement, it is fast track in terms of process and the required investment is as low as €1.5 million.

The fast-track Citizenship Programme is aimed at high net worth individuals, investors and entrepreneurs, and allows successful applicants and his/her family to enjoy all the benefits of being a Cyprus & EU National. A few of the main advantages are the following:

  • Free movement of people,  services, capital and goods;
  • Applicants do not need to physically reside in Cyprus;
  • Attractive Tax System;
  • High standard of living;
  • Visa free travel;
  • Dual citizenship.

The applicant and spouse, as well as, children under the age of 18 may travel, live, study and work within the EU. Businessmen may establish free movement of services, capital and goods without hindrances.  In this respect, the Programme allows for transfer of funds, purchasing of property, investment in any type of activities.

The Cyprus Citizenship Program does not have a residency requirement, meaning that applicants do not need to reside in Cyprus prior or after obtaining their Cypriot passport – which is considered to be a unique feature. 

Cyprus enjoys a favourable tax system, and is politically stable, and obtaining Cyprus Citizenship paves the way for a high standard of living and access to high standard of private schools and private medical facilities. The country also enjoys one of the lowest crime rates in the EU, and it is therefore a safe and secure place for families. 

To be able to submit an application for Cyprus Citizenship, an applicant must invest a minimum of €1.5 million in residential property. Alternatively, an applicant can choose to invest €2 million in one of the following options:

  • Investment in real estate, land development and infrastructure projects
  • Investment in financial assets of Cypriot companies or Cypriot organizations
  • Investment in Alternative Investment Funds or financial assets of public Cypriot companies licensed by the Cyprus Securities and Exchange Commission (CySec) 
  • Combination of the options listed above; when opting for this option, and applicant may also purchase up to €500,000 in Cyprus Government bonds, which  must be retained for a 3 year period.

Besides the above-mentioned criteria, the applicant must also fulfil the following conditions:

  • Purchase and maintain a privately owned residence in Cyprus, the value of which must be at least €500,000 excluding VAT;
  • Have a clean criminal record from the country of origin;
  • Confirmation that the applicant’s assets are not frozen or ordered to be frozen by the EU.

Our Cyprus Investment practice group is specialised in advising you further on obtaining Cyprus Citizenship through the investment route, as well as other related requirements including pre-immigration tax planning.

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Key Contacts

Dr Jean-Philippe Chetcuti

Managing Partner

+356 22056411

Mr Kenneth Camilleri

Senior Partner

+356 22056414

Dr Antoine Saliba Haig

Legal Associate

+356 22056446

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