Cyprus Investment Program

CYPRUS INVESTMENT PROGRAMME

on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2017

One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.

Within this framework and taking into account the strong investor interest, the Government of Cyprus has established and revised the "Cyprus Investment Programme” on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2017, with specific incentives, terms and conditions and control procedures in order to prevent abuse.

Eligibility

The following non-Cypriot natural persons, who meet one of the set economic criteria, are eligible to apply for the acquisition of Cypriot citizenship:

·          natural persons, either personally or through a company in which they are participating as shareholders, in proportion to their holding percentage

·          through investments made by their spouse or jointly with the spouse

·         as high-ranking senior manager of a company that meets one of the financial criteria below (provided that they receive a remuneration that generates paid tax revenues of at least €100.000 over three years)

Economic Criteria

Eligible persons who meet one of the following financial criteria may apply for the acquisition of the Cypriot Citizenship:

·         Investment in real estate, land development and infrastructure projects of at least €2m

·         Investment in financial assets of Cypriot companies or organizations of at least €2m

·         Investment in Alternative Investment Funds or financial assets of Cypriot companies/ organizations that are licenced by the Cyprus Securities and Exchange Commission of at least €2m

·         Combination of the above criteria, which can also include investment in government bonds of up to €500.000

Family members

Spouse/ partner: The investor’s spouse or partner may acquire the Cypriot Citizenship. Their application may be filed simultaneously

·         Minor children: Dependent children up to the age of 18 may apply, after the investor acquires the Cypriot Citizenship and provided that the other parent consents to the grant of the citizenship

·         Adult financially dependent children: the right to apply for citizenship is also granted to the financially dependent adult children of the investor belonging to one of the following two categories:

- students up to the age of 28

-  children with severe physical/ mental disability that prohibits employment

·         Parents: The investor’s parents may also apply for citizenship after the investor has acquired his/ her citizenship, provided that they are owners of a private residence of at least €500.000 (+VAT). The investor and his/ her parents may collectively acquire one residential property of a total value of at least €1m (+VAT)