Project Description

Cyprus Residence Program “EU”

Get the permanent residence for you and your family

In 2009 the minister of the interior of Cyprus decided to strengthen Cyprus economy and real estate market by creating the residency by investment program. (Category M67 visa) allows applicants to purchase a new personal residence in Cyprus and get the permanent residency.

WHY INVEST IN CYPRUS?

  • Strategic location connecting Asia ,Europe and Africa.
  • A full member of the EU since 2004.
  • Broad Network of Legal, Accounting and Banking Services.
  • Low Corporate Tax and Double Tax Treaties.
  • Use of English language.
  • Very high level of safety and political stability.
  • Advanced land ,sea and air transportation.
  • Advanced Telecommunications Network.
  • Renown International Shipping Center.
  • Highly Educated, Qualified and Multilingual Talent.
  • Poised for Long Term Growth.
  • Enviable Quality of Life

Qualifications: 

  • The applicant must possess a valid passport.
  • The applicant must purchase a personal residence for min. 300,000.00 Euros.
  • The applicant must be a businessman or a professional with a good reputation
  • The applicant must have a secured international income to enable the family to live comfortably without working as an employee in Cyprus  and have good bank balance.
  • The applicant must pass a security background check.

Information about Cyprus

Location: Middle East, island in the Mediterranean Sea, south of Turkey;
Capital: Nicosia (Lefkosia/Lefkosa);
Time difference: GMT+2;
Total Area: 9,251 sq km (of which 3,355 sq km are in north Cyprus);
Population: 1,138,071;
Age Demographics: 0-14: 15.9%, 15-64: 73.4%, 65+: 10.7%;
Population growth: +1.571%;
Languages: Greek (official), Turkish (official), English;
Religions: Greek Orthodox 78%, Muslim 18%, other (includes Maronite and Armenian Apostolic) 4%;
Government Type: Republic;
Currency: Euro (EUR);
GDP (per capita): $29,400 USD (2011 est.);
GDP (purchasing power parity): $24.03 billion (2011 est.).

Criteria for granting the Cypriot
Citizenship by Investment

Part “A”: Individual Category

Minimum investment amount €5.0 million

1. Investment in government bonds:

The applicant must have purchased state bonds of the Republic of Cyprus of at least €5.0 million.

2. Investment in financial assets of Cypriot companies or Cypriot organizations:

The applicant must have purchased financial assets of Cypriot companies or Cypriot organizations (bonds/ securities/ debentures registered and issued in the Republic of Cyprus) of at least €5.0 million.

It is noted that these financial assets can be purchased either at issuance, or subsequently by the market.

3. Investment in real estate, land development and infrastructure projects:

The applicant must have made an investment of at least € 5.0 million for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector or other infrastructure projects).

4. Purchase or creation or participation in Cypriot businesses or companies:

The applicant must have made an investment of at least € 5.0 million in the purchase, creation or participation in businesses or companies, that are based and operating in the Republic. These businesses or companies should evidently have a tangible presence in Cyprus and employ at least five (5) Cypriot citizens.

It is noted that the mandatory conversion of deposits into shares is included in this criterion.

5. Deposits in Cypriot banks:

The applicant must have personal fixed term deposits for three years in Cypriot banks or deposits of privately owned companies or trusts (in which he/she is the beneficiary owner) in the Republic of Cyprus of at least €5.0 million

6. Combination of above 5 options:

The applicant can invest as combine any of the above amounting to €5.0 million

7. Persons whose impaired deposits with the Popular Bank Public Company Ltd:

Due to the measures implemented after the 15th March 2013 the applicant has incurred an impairment in deposits amounting to a total of at least €3.0 million.

Part “B”: Major Collective Investment Category

Minimum investment amount €2.5 million

The Council of Ministers shall have the right on special occasions, to reduce the Individual criteria’s:

1. Investment in Government Bonds.
2. Investment in Cypriot companies or Cypriot organizations.
3. Investment in real estate, land development or infrastructure projects.
4. Purchase or creation or participation in Cypriot businesses and companies:

The applicant required to invest reduced amount of €2.5 million participating in a special collective investment scheme, provided that the total value of the investment is at least €12.5 million.

Notes:
The investor is must retain the investment for at least three years following the date of grant Cypriot citizenship, with the exception of the residential property of at least €500.000 that should not be disposed at any time and the investor can change with another property of an equal or higher purchase price.

TERMS AND CONDITIONS
1. Clean Criminal Record: The applicant must have a clean criminal record. Furthermore, his name must not be included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union.
2. Residence in the Republic of Cyprus: In all cases listed in Part “A”, the applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.
It is noted that members of the same family, which apply separately as investors, can collectively acquire a residence, provided that the total value of this home-property covers the amount of € 500.000 per each applicant.

Benefits of receiving the Cyprus Residency:

  • Each applicant family member has the right to reside permanently in Cyprus.
  • Permanent residence Category M67 is not renewable every year but it is forever.
  • Applicant should visit Cyprus only once every two years if not residing in the country.
  • High quality of life including, Natural beauty, Warm climate, Sea views , Modern medical facilities , Shopping , Sports , Cultural events , and many private English schools and universities.
  • A gate to Europe as Cyprus is a Full member in the EU.
  • Applicant can qualify for citizenship after 7 years of residency in Cyprus.
  • No-risk investment in the best touristic Mediterranean island.

Benefits of receiving the Cyprus Citizenship:

  • Fast track, the approval could be granted as less as 3.
  • Minimum investment of €2.5 million in case of collective investment Part “B”.
  • The investments to be retained for only 3 years from the date of granting citizenship.
  • Citizenship granted to the entire dependent family members of the applicant including spouse, minor children as well as to the financially dependent adult children up to the age of 28, who are full time students;
  • No physical residence requirement in Cyprus;
  • Freedom to work, study and live in EU-member states. Access to all the EU citizen rights and protected by EU legislation and regulations.
  • No language requirements.Dual-citizenship is permitted.
  • Dual-citizenship is permitted.