Cyprus is the largest Island in the Eastern Mediterranean. Settled in earliest antiquity, Cyprus was at various times part of the Egyptian, Assyrian, and Macedonian Empires. It fell under British control in the 19th century. It became an independent Presidential Republic and member of the British Commonwealth in 1961. In the 1970’s, the Turkish speaking north broke away to form a separate state. The Greek-Speaking Republic of Cyprus became a member of the European Union in 2004. Cyprus has the warmest and sunniest climate of any EU member. For example, London receives an average of 50 hours of sunlight during December, most of Cyprus receives over 180 hours! However, the central mountain ranges experience frequent snowfall.
The Government of Cyprus has created several programs to attract foreign direct investment into the country. As part of this, an investor migration program has been created that gives complete Cypriot citizenship to applicants who invest a minimum of EUR 2 million in property as well as a few separate requirements. Persons who successfully apply win the ability to reside, work and go to school in each of the 28 EU member countries.
Since 2016, the Cypriot government has changed its investor migration program. The minimum capital requirements have been reduced to 2,000,000 EUR. The program was also adjusted to allow applicants to bring their parents to Cyprus for an extra 500,000 EUR + VAT, as long as the additional funds are used to purchase a home in Cyprus.
Any foreigner can avail of the Cyprus investor migration program as long as they qualify under one of the requirements listed below. The application can be made personally or by way of a company that the applicant is a shareholder or senior manager of.
- Investments made in real property or economic developments projects. To avail of the requirements, it is necessary to make an investment of a minimum of EUR 2 million that must be used to construct or improve real estate projects.
- Buying, starting, or working in Cypriot enterprises. To avail of this option, the applicant needs to invest a minimum of EUR 2 million in a new or existing business based in the republic of Cyprus. Such enterprises must be able to prove an actual presence within Cyprus and the company needs to provide full-time jobs to a minimum of 5 Cypriot citizens.
- Buying stocks in Alternative Investment Funds or directly in Cypriot Businesses publicly traded on the stock market. The total value of the stocks needs to be a minimum of EUR 2 million. This option does not just cover stocks. As long as the issuing entity meets the criteria, the applicant can invest in corporate securities or bonds.
- Applicants are able to avail of any Combination of the options listed above as long as the total investment is equal to a minimum of EUR 2 million. The applicant may include Government bonds from the Republic of Cyprus for a maximum amount of EUR 500,000.
Regardless of the combination of investment vehicles chosen, each applicant needs to commit to life-time ownership of a residence in Cyprus. The value of the residence must be a minimum of EUR 500,000 + VAT.
However, it is important to keep in mind, that if the applicant has chosen the Property development option, the cost of the residence will be deducted from the 2,000,000 EUR.
Steps to Applying for a Cyprus Investor Visa
The steps for becoming a citizen of Cypriot is made up of strict steps that must to be performed professionally and with care. CCP will do every step and make sure that they are done correctly and in the right order, because every aspect of the procedure, if not correctly handled, is vital to obtaining final citizenship approval.
CCP will also help clients to identify the most advantageous business opportunities, compares all qualifying investments and provides realistic exit strategies. CCP will process and submit the application to the authorities and perform all necessary follow-ups. We will also receive and deliver the passports to the clients upon approval. We additionally can provide property management services for our clients to ensure positive revenue flow.
Once we send the application for processing, CCP usually is notified if approval in less than three months. This fast turn-around time makes Cyprus one of the quickest countries in which to get citizenship.
Despite the fact that applying for a Cyprus investor citizenship is pretty straightforward, it’s still a delicate procedure which demands a meticulous degree of attention to details and the details of the investment. CCP has a vast amount of Global and local expertise and an excellent approval rate in winning the approval of citizenship within the space of three months.
CCP only accepts clients who have passed our internal background checks, which in any case are comparable to those employed by the Government of Cyprus. Before we can begin representing an application, Police clearance documents from the current country of residence are required.
Beneficiaries of the Cypriot investor migration program include
- The obtaining of Citizenship of a country that is a member of the EU.
- The right to reside, be employed, and go to schoolin all 28 EU member nations.
- The gaining of rights inside the framework of the legal system of the EU as well as its social programs
- Complete citizenship as well as passports will be given to the applicant & close family members
- The ability to travel to 158 different countries Globally without the need to apply for a visa.
- Offers several options with no need to maintain permanent residence.
- Applications are generally approved in 90 days
- Qualification is earned through investments, no large donations are required.
CCP provides services to international clients seeking residence or citizenship under various programs. Don’t hesitate to contact us to get additional information.