The Cyprus “Citizenship by Exception”, also called “Citizenship by Investment”, is granted upon investment in Cyprus property. The citizenship is granted, and the passports of the applicant and his family members are issued, approximately 3 months (*) after application!
Three different Investment Schemes for Citizenship are available:
- investment of €2,5 million in one single luxury residential property,
- investment of €2,5 million in any real estate plus investment of €500.000 in a residence property,
- investment of €5 million in (almost) any kind of investment plus investment of €500.000 in a residence property.
Conditions of above alternatives 1. and 2.:
- The investor must indefinitely keep in his possession a residential property of a value of minimum €500.000, declared as his permanent residence. The remaining investment may be sold after three years from the acquisition of citizenship.
- Property purchased in Cyprus during the last three years can be included in the above mentioned investment requirements, provided the property has not been purchased more than three years ago at the date of application for citizenship. In such cases, additional real estate property must be purchased to reach the total investment required.
- Applying investors must be part of a so-called “collective real estate purchase scheme”. That simply means that a local service provider in Cyprus will “bundle” the applications of investors and submit the applications “as on lot”. One “lot” of applications must comprise minimum 5 investors. EUROSERV is arranging the “bundling” of investors, so the individual investor does not need to find co-investors.
Conditions of above
- Deposits in Cypriot banks
Deposit your own funds of minimum EUR 5.000.000 with a bank or several banks in Cyprus in the investor’s own name, as a fixed-term deposit of minimum three years. This option is by far the easiest and so far most preferred one. Or:
- Investment in real estate, land development and infrastructure projects
Invest in real estate or land development or infrastructure projects in Cyprus for at least EUR 5.000.000 plus VAT (0, 5 or 19 %, as applicable). The investment must be retained for at least three years. Or:
- Purchase or creation or participation in Cypriot businesses or companies
The investor may make an investment in Cyprus by creating or participating in a business or company in Cyprus, or by setting up your own company in Cyprus and do your own business. Funds invested in either option must be minimum EUR 5.000.000, and the investment must be retained for at least three years. Or:
- Investment in financial assets of Cypriot companies or Cypriot organizations
Investment in bonds, securities or debentures issued and registered in the Republic of Cyprus of minimum EUR 5.000.000 do also qualify for Cyprus Citizenship. The investment in such financial assets must be retained for at least three years. Or:
- Investment in Government Bonds
The investor may purchase State Bonds of the Republic of Cyprus of minimum EUR 5.000.000 and retain them for at least three years. Or:
- Any combination of the aforementioned investments
The investor may also combine any of the aforementioned forms of investments. The total investment must sum up to minimum EUR 5.000.000 and must be retained for at least three years. Or:
- Real Estate Property as Residence
In addition to an investment of EUR 5.000.000 in any of the above forms, the investor must buy a real estate property worth EUR 500.000 (ex VAT), which will be declared as residence of the investor. This property must be retained indefinitely.
Special opportunity to acquire Cyprus Citizenship for high-ranking managers of companies:
High-ranking senior managers of a company or of companies that meet one of the investment criteria A to F above are entitled to apply for Citizenship by Exception under the following conditions:
- The annual remuneration of the manager generates for the Republic of Cyprus tax revenue of minimum EUR 100.000 for a period of three years, and
- The tax mentioned above has already been paid or prepaid, and
- The eligible investment by the employing company has been concluded during the three years prior to the manager’s application, and
- The eligible investment by the employing company must be retained for at least three years from the date of naturalization of the manager, and
- The applying manager must meet the additional requirements.
Please contact us for more information and for our investment advices in Cyprus.
For company incorporation in Cyprus, please also see the website of our affiliate Shanda Consult.