IPN Guide: Cypriot Citizenship through Investment

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

Note: Procedure for Fast track procedure- Approval will be issued within approximately 6 months.


A €2 million Investment (plus VAT if any) into either:

  1. 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).
  2. 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.
  3. Purchase or creation or participation in Cypriot businesses or companies*
  4. Investment in financial assets of Cypriot companies / Cyprus organizations or in Alternative Investment Organizations*
  5. 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).

Regarding Family:

  • The program applies to the immediate family of the applicant i.e the spouse and dependent children up to the age of 28 if full time university students.
  • The parent’s of the investor may apply for citizenship aſter the investor has acquired the Cyprus passport. They must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000 (plus VAT if any). It is noted the investor and his/her parents may collectively acquire a residence, provided that the total of this home – property is at least €1.000.000 (plus VAT if any).

Tips:

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.




Procedure


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:

  • Letter by the applicant or by the representative of the applicant, in which the investment and criterion, under which the application is submitted, are briefly explained.
    Application Form M127 fully completed and signed before a Registrar of a Cypriot court or a consular officer
  • Birth Certificate
  • Copy of valid passport
  • Certificate of criminal record from the country of origin, as well as the country of residence (if it differs) of the applicant
  • Marriage Certificate
  • Copies of advertisements in a daily newspaper two consecutive posts
  • Two passport size photographs
  • Curriculum Vitae

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.

Note : All the documents issued by a foreign authority should be translated to either Greek or English and be duly authenticated (They should bear the stamp «APOSTILLE», if they are issued by countries that have signed the Hague Convention, otherwise they should be sealed by the Ministry of Foreign Affairs of the issuing country and the diplomatic mission of the Republic of Cyprus in the issuing country).