Granting citizenship to investors in the economy of Cyprus
Cyprus Developers Alliance presents the Cyprus Investment Program.
By participating in this program, the investor and his family receive Cyprus passports. This is not a residence permit, not a visa or a Green Card. This is a full-fledged citizenship of a country - a member of the European Union.
The applicant for citizenship must invest in Cyprus from € 2 million for a period of 3 years. Citizenship is made out in 6 months.
The program is very popular among foreign investors and has already attracted more than € 4bn of direct investment in the economy of the Republic of Cyprus.Benefits of the program
Key points that make the program unique:
Cyprus Passport provides all the rights of an EU citizen: the freedom to stay, study, work, do business in any EU member state, as well as Switzerland, Liechtenstein, Norway and Iceland
Visa free regime for 157 countries
Allowed dual citizenship. Other countries are not informed about granting Cyprus citizenship.
Citizenship is granted to the investor's spouse (s) *** and all financially dependent children under the age of 28 years. Citizenship is automatically transferred to all subsequent generations of the investor.
The investor’s parents also have the right to obtain citizenship, provided that they own residential property in Cyprus worth € 500,000 (hereinafter the amounts are shown without VAT, where it is).
The term of approval of citizenship for the investor and his / her spouse is only 6 months.
Investor is not required to reside in Cyprus
The minimum investment amount is € 2 million for the whole family.
The investor must maintain investments for 3 years, after which he is free to realize them. The only thing is that he is required to leave personal property in Cyprus worth € 500,000 (we expect this requirement to be canceled; in any case, this property can be leased and rental income taken)
There are no donations or donations to the stateInvestment options
As an investment asset may be:
Residential Properties
Commercial real estate
Developer projects
Creation of Cypriot companies, purchase of companies or investment in them
Shares of investment funds, financial assets of Cyprus companies and organizations
Government bonds (maximum of € 500.000; the remaining € 1.5 million to be invested in other assets)
The combination of the above methods.
There are no exams to know the state language and the history of the country.Investor Requirements
The following requirements are put forward to investors and investments made by them:
The minimum investment amount is € 2 million.
Investment period - at least 3 years
Lack of convictions of the investor and adult members of his family
The investor must be the owner of personal residential property in Cyprus worth at least € 500.000. If investments are made in residential real estate, this requirement is absent
An investor must have a residence permit in Cyprus to apply for citizenship. The state grants him this status simultaneously with his application for citizenship. Obtaining a residence permit is a formality dictated by EU rules. As before, the investor is not required to reside in Cyprus in order to obtain citizenship.Granting of citizenship in the standard order (naturalization)
A foreigner who has lived in the Republic of Cyprus for 7 years (the term is determined by marks of border control in the passport) for 10 consecutive years, receives the right to Cypriot citizenship.
Citizenship, unlike a residence permit, is not issued for the whole family at a time. He receives only one of the spouses who lived in Cyprus for 7 years. In a few months, minor children automatically receive citizenship.
The second spouse will receive citizenship when he gains the same 7 years of residence in Cyprus. Or - in three years, as the spouse of a citizen of Cyprus.*** The Law on Civil Union (184 (I) / 2015) entered into force on the date of its publication in the official government newspaper dated 09/12/2015. The law introduces the institution of a civil union in the legal system of Cyprus. The ceremony of a civil union and the issuance of a certificate take place in the district office of the municipality at the place of residence of one of the applicants. If the interested persons do not reside permanently in Cyprus, they are entitled to apply to the appropriate district office of their choice.
Documents required for application:
Utility bills confirming the place of residence (certified by an apostille);
The application form for the civil union, completed by both parties;
Valid passports.
Statement under oath (made not older than one month from the date of presentation, it is permissible to take the oath at the Cyprus Embassy abroad). Stakeholders should also provide official evidence confirming that none of them are married / civil / religious or other union, signed by the head of the registry office for those who live in Cyprus, for residents abroad issued by their competent authority. All official documents issued in any other country that is not a party to the Hague Convention must be certified with an apostil and translated into English or Greek.