There has been a significant rise in applications for Cyprus citizenship by high net worth individuals. These individuals can apply for Cyprus citizenship on the basis of having made a significant contribution to the Republic. Once such a significant contribution has been proven, the applicant is granted Cyprus citizenship immediately through fast-track procedures. Please note that a prerequisite for filing an application is the ownership by the applicant of a home in Cyprus worth at least 500.000€ + VAT, which is used as their permanent residence. Residents are only considered tax residents if they stay longer than 183 days per year
- Besides profitting from a favourable tax regime, easy entry into all Schengen countries and many more is of interest for most applicants. Please read our Cyprus residence site for more information
- Spouse and children can apply for passport as well, they only need to pay a small administration fee
- No tax residence in Cyprus necessary
- Dual nationality allowed
As special contributions are recognized:
- Mixed investments and a donation to a state fund. The applicant must invest at least 2 million € in shares and/or bonds of the Cyprus State Investment COmpany and make a donation of at least 0,5 million €.
- Direct Investments of at least 5 million € which need to be hold for at least 3 years in either:
(Part-)Ownership of Cyprus-registered companies, which in the 3 years preceding the application, contributed to the Cyprus economy on average at least €500,000 per year in the form of taxes paid, VAT, or professional services purchased. If the company has more than 5 employees the amount is reduced to 300.000€/year and if it has more than 10 employees it is further reduced to 200.000€/year
Persons whose deposits have been impaired due to measures implemented after March 15th 2013 can apply for a citizenship under certain conditions.
Special collective investments schemes allow to reduce the needed investment amount to 2,5 million €, provided the total value of the investment is at least 12,5 million €. Pleace contact us for official special collective investment opportunities.
- Government Bonds: The applicant must have purchases state bonds of the Republic of Cyprus.
- Financial Asssets of Cypriot companies/organizations. These financial assets can be purchased either at issuance of subsequently by the market
- Real Estate, land development and infrastructure projects
- Purchase / Creation / Participation in Cypriot business or companies which need to be based and operate in the Republic of Cyprus. Businesses need a tangible presence and employ at least 5 Cypriot citizens. The mandatory conversion of deposits into shares is included in this criterion.
- Deposits in Cypriot banks: The applicant must have personal fixed deposits for three years in Cypriot banks. Deposits can be also made by privately owned companies or trusts in which the applicant is the beneficiary owner.This is the only way on how to achieve a cypriotic citizenship within 3-6 months. Please contact us for further details, we can also advise you on leveraged solutions. All other applications can only be handed in after the investments have been hold for three years.
- Combination of the aformentioned different investments with a total minimum of 5 million €.
Updated June 5th 2014