Scheme for obtaining Cypriot Naturalization by Investment
After the economic crisis is 2013, One of the main objectives of the Republic of Cyprus was to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus.
Requirements and Conditions
A €2 million Investment (plus VAT if any) into either:
- A single property to be used as a residence at a minimum value of €2 million (plus VAT if any). The residence must be retained by the investors for a period of 3 years. After 3 years the Investor has the right to sell his/her property and buy another one at a minimum value of €500,000 (plus VAT if any).
- Investment in a selection of Residential Properties, out of which one property is to be used as a privately-owned permanent residence of a minimum value of €500,000 (plus VAT if any). The remaining €1.5 million can be invested in a range of residential properties only, which may be resold after 3 years.
- Purchase or creation or participation in Cypriot businesses or companies*
- Investment in financial assets of Cypriot companies / Cyprus organizations or in Alternative Investment Organizations*
- A combination of the above, with the right to purchase special government bonds of the Cyprus Republic of a value up to €500,000*
* You must also own or purchase a residential property of at least €500,000 (plus VAT if any).
The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus. If the applicant does not already hold a residence permit, he/she may apply for an immigration permit, simultaneously with the application for naturalization.
Any Cyprus property or properties purchased during the past 3 years, can also be included in the required investment amount.
Applicants must hold a clear criminal record from the country of origin and the country of residence (if different).
No requirement to physically reside in Cyprus, before/after approval.
The application is submitted at the Ministry of Interior, the original documents should be submitted, along with a photocopy of all the documents. The list of the necessary documents is as follows:
Permanent Residency Permit
If the applicant does not already possess a permanent residency permit in the Republic of Cyprus then a corresponding application for obtaining the same, must be submitted simultaneously with the citizenship application. For the obtaining of a Cyprus Permanent Residency Permit, please see the required documents and procedure part of that guide.