Cyprus Investment Programme
The Cyprus investment programme is considered as being the undisputed leader among the world investment citizenship programmes.
«Global Citizenship»
In our insecure ever-changing world acquiring an alternative citizenship can become a particularly wise decision as well as an investment for the future. In the era of globalization, the citizenship investment programmes offered by some countries can provide an excellent opportunity to become a "citizen of the world". Dual or multiple citizenship is an effective means of tax planning and ensures financial confidentiality for banking and investment operations.
Personal security, access to insurance, medical, educational and other services, freedom to live, work and become a tax resident in various countries, and the availability of all these benefits for future generations also play an important role.

Passports of each particular country give their holders different opportunities and different privileges that must be carefully considered when choosing a programme.

In most cases, the investment component in such programmes is present only nominally, with the investor's main purpose being obtaining the citizenship. However, with a competent and balanced approach participation in an investment programme can become a part of the investment strategy, in which investments and their financial performance are primary, and obtaining citizenship is an additional "bonus" to investments.

Advantages of the Cyprus (EU)
Investment Programme
Any person who holds a passport of any EU country is considered a European Union citizen. EU passport holders have the right to enter, reside, study and work in EU countries, Iceland, Liechtenstein and Norway.
In March 2014, Cyprus amended its legislation to allow foreign investors to become EU citizens and obtain a Cyprus passport through naturalization, and in 2016 further improved the programme.
Despite having one of the highest investment thresholds, the Cyprus investment programme is the most attractive one. Unlike other programmes, the accompanying costs do not incur donations and contributions, and moreover, these accompanying costs are not significant on the scale of the entire investment and do not have a tangible effect on the financial performance of the investment.

Transparency of the procedures and clarity of the criteria make the result easy to understand and predictable and do not impose additional obligations on investors, in particular regarding the minimum period of residence in Cyprus both before and after obtaining citizenship.
Cyprus Investment Programme Advantages
Cyprus Investment Programme Advantages
The Cyprus citizenship by investment programme has a number of significant advantages which explain its favourable leading position:
Absence of donations, both direct and hidden in a form of high government commissions and duties.
Almost the entire amount of investment is an investment with the potential to generate current income as well as capital gains.
Excellent business opportunities.
Timeline - up to 7 months.
No language or medical test requirements.
No tax requirements provided that the holder of a Cyprus passport does not become a tax resident (tax residency is an option not related to the citizenship program).
Possibility of obtaining Cyprus tax resident status.
There are neither minimum residence requirements prior to the application, nor any requirement for visiting the country after obtaining citizenship.
Possibility to exit the investment in 3 years.
Opportunity to live and work in any European country.
Access to all social and medical programmes existing in the European country of residence.
European citizenship is automatically passed on to all subsequent generations of the applicant - grandchildren, great-grandchildren, etc.
A Cyprus passport grants the right to travel visa-free to 158 countries. A simplified visa regime also exists with many other countries. For instance, a visa to the United States is issued immediately for 10 years with minimal bureaucratic requirements. Thus, the Cypriot passport ranks 14th in the Visa Restrictions Index visa-free travel freedom global rating.
A competent approach to the selection of investment properties allows to secure and increase the invested funds, while receiving the citizenship of an EU country is also a form of concomitant non-financial return on investment.
Criteria, Procedures and Timeline
Criteria
Investments of € 2,000,000 in one of the following instruments, or in a combination of them:
  • Single or multiple properties*; or·
  • Primary market government bonds (no more than € 500,000); or
  • Financial instruments of Cypriot companies or organisations operating in Cyprus; or
  • Establishment, purchase, or entry into a company operating in the territory of Cyprus and having at least 5 Cyprus citizens of staff on a permanent basis; or
  • Investments in plots of land subject to the availability of an investment plan for the development of this site; or
  • Investments in shares of Alternative Investment Funds. These funds must be established in the territory of the Republic of Cyprus and be licensed and supervised by the Cyprus Commission for Stock Exchanges and Securities All of the investment options mentioned above should be accompanied by a purchase of a residential property worth at least € 500,000* for lifetime possession.
  • In the case of investing € 2,000,000 in residential properties under the criteria of the programme, a property worth € 500,000 for permanent ownership can be included in the total investment amount
  • When purchasing real estate in the primary market, the applicable VAT is not included in the minimum cost of the properties and is paid in excess of this amount
Successful due diligence results are prerequisite.
A criminal record, with rare exceptions, is the basis for refusal to grant citizenship. .
Procedures and Timeline
Citizenship is granted to an applicant who holds a permanent resident's status for at least 6 months.

The timeline for issuing a permanent residence permit (PR) is 5 to 10 days.

The timeline of a citizenship application approval is 7 months.

Applications for permanent residency and citizenship are submitted simultaneously and are processed alongside each other.

Thus, the overall period for obtaining citizenship is approximately 7 months from the date of the application and of the transfer of the investment amount to an escrow account.

Citizenship for the Family
The investor has the right to include the following family members in his application for citizenship:
Spouse or civil marriage partner
Children under the age of 28
provided that they are not married, are in full-time education, and are fully financially dependent on the applicant.
Buying an additional residential property
worth a minimum of 500,000 euros gives the investor the right to acquire citizenship for his/her parents. с
Expenses
* When investing the full amount in residential real estate, acquisition of an additional property with a minimum cost of 500,000 euros is not required.
Conclusion
There is plenty of freely available information on the specific requirements and financial conditions of various investment programmes in media sources. However, just theory is not enough to fully understand all the nuances of each programme and compare them in order to single out the most advantageous.

Given the individual circumstances of each case, none of the programmes can be called ideal for all investors.

To understand all the details and determine the most appropriate option, we invite you to book a free consultation with our experts.
EU Citizenship and Real Estate Investment with
Cyprus Sotheby's International Realty
Our company has many years of experience in the real estate market in all areas, including design, construction, architectural and construction supervision, operation, financing, project management, budgeting, quality control, and related fields such as investment management, legal support etc. The personal experience in real estate and investments of all our employees exceeds 10 years.
Thorough knowledge and understanding of markets at a global and local level, including retrospective analysis, trends and prospects for the development of real estate markets.
Impartiality and objectivity. Cooperation with each developer and property owner on the principles of equidistance and impartiality. Objectively assessing and indicating to clients all positive and negative aspects of each viewed property, and providing all the necessary information for making an independent reasonable uninfluenced decision.
Cooperation only with those developers and owners who have been thoroughly tested for reliability, for having a good reputation and a stable financial condition.
Cooperation with legal and audit offices of various levels. From the largest international companies to private practices, giving clients the opportunity to choose the most comfortable partners for processing their documents.
Building long-term relationships with clients. Continuing to work and cooperate with clients after investment and citizenship. We support our clients until the moment they exit the investment, and quite often we continue our cooperation even beyond
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