CYPRUS CITIZENSHIP BY INVESTMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As a result of recent economic developments in the Republic of Cyprus, following Euro-group's decision, the Government of Cyprus, via the Ministry of Interior, has announced further revision of the set out criteria for Cypriot citizenship,  in an attempt to facilitate (non EEA) migrant entrepreneurs and investors, who may apply for Cyprus citizenship through investing in Cyprus.

 

The procedure aims at more efficient operation in obtaining a Cyprus citizenship, by introducing a 'fast track' procedure, setting aside all the bureaucracy and unnecessary delay caused by the huge amount of documentation required in order to obtain cyprus Citizenship. 

 

Successful applicants may eventually be entited (himself and ultimately their spouse and children), to enjoy all the benefits cyprus citizenship has to offer.  This newly introduced scheme, is very famous amongst non EU citizens, who together with cypriot citizenship, will also be awarded with EU citizenship and all the benefits that come with it. 

 

Therefore, in light of the Civil Registry Laws of 2013 and the House of Representatives decision, Cyprus Citizenship may be awarded to any non Cyprus national provided any of the below investments are made:

 

 

 

 

 

through DEPOSIT  

 

The individual applying must be able to prove tat they have deposited within a financial institution in Cyprus, the minimum amount of 3 million euros to be divided and invested in three different funds;

 

1. The Development and Investment Fund - 2 million euros;

2. The Technology and Research Fund - 0.5 million euros; and

3. The Solidarity and Employment Fund - 0.5 million euros.

 

The amounts stated in parts '1' to '3' will remain bound for a period up to five years. In the event the requirement is circumvented, the citizenship can be revoked. 

 

 

 

 

 

through INVESTMENT 

 

The investment in a financial institution of Cyprus, made by the person applying for Cyprus citizenship, must amount to a minimum of 5 million euros. The investment can be made in any of the following situations:

 

1. Purchase of real estate property (domestic property, commercial property, hotels etc but not undeveloped real estate                 property); 

2. Purchase of Cyprus business or Company;

3. Purchase of financial instrumens such as bonds, shares, treasuries, securities that are registered and issued in the Republic     and which include those that are issued from the Solidarity Fund, in light of the Law for the Establishment of a National             Solidarity Fund of 2013; or

4. To participate financially in a company and/or partnership, and/or similar, that has undertaken the development or                      construction of a project for the government of the Republic.

 

 

 

 

 

through BUSINESS ACTIVITIES 

 

 

The individual applying must hold shares within the share capital of a Cyprus Legal Entity (the legal entity must be incorporated and trading and/or operating within the Republic of Cyprus). The head office of the Cyprus Legal Entity, must be located in Cyprus, and the Legal Entity, must have paid the least amount of 0.5 million euros on an annual basis in annual taxes, contribution or other payments in government funds, for the last five years prior the application. It is a requirement that the said Legal Entity employees the least amount of ten Cypriot citizens.

 

UNDER ALL CIRCUMSTANCES the maximum number of applicants from each CYPRUS MANAGED COMPANY is two.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

right for those AFFECTED BY THE 2013 BANK ACCOUNT HAIRCUT 

 

The person applying for Cyprus Citizenship, must have suffered a financial loss through their bank account(s) held in the form of deposits within Laiki Bank. The amount effected must be at least 3.0 million euros.

 

UNDER ALL CIRCUMSTANCES, the person applying should note that in all cases, they must have no criminal record, a permanent residence in the Republic, worth at least 0.5 million euros (+ VAT) net value within the relevant market, and not have his/her name within the list of individuals that have their assets frozen within any part of the European Union.

 

 

 

ALL DOCUMENTS THAT WHERE ISSUED OUTSIDE CYPRUS MUST:

 

a) Be accompanied by its official translation into Greek or English from a registered Information office;

b) In the event the country of origin of the documents, has signed the Hague Convention of 1961, the document must also bear     the official APOSTILLE seal, or be certified by the Ministry of Foreign Affairs of the Country of origin of the person applying       and in addition of the Embassy/Consulate of Cyprus; or

c) The Ministry of Foreign Affairs of the Counry of origin of the person applying and then the Embassy or Consulate of their           country in Cyprus and in addition have it also certified by the Ministry of Foreign Affairs of  Cyprus. 

 

In the event the country of origin of the person applying is not a signatory of the Hague Convention of 1961, and there is currently no embassy or consulate in their country, the documents to be submitted, must have the certification of the Ministry of Foreign Affairs of their country of origin, then the certification must be made by the nearest embassy or consulate that has been accredited.