Possible Schemes to Obtain Cyprus Citizenship
Investing in Real Estate, Land Development and Infrastructure Projects
The applicant must purchase an immovable asset or invest in the construction of land development projects (either residential or commercial, or developments in the tourism industry), or other infrastructure projects of at least €2 million plus V.A.T.
The applicant can invest in construction projects which are under developments provided that an investment plan for the said project is included with the application.
Investing in Financial Assets of Cyprus Companies or Cyprus Organizations
The applicant must invest not less than €2 million in companies or organizations established and operating in the Republic of Cyprus. These funds can only be used towards investments made exclusively in Cyprus.
The Cyprus Companies or Cyprus Organizations in which the applicant makes an investment must have physical presence in Cyprus with significant annual turnover and employ at least five Cypriot or EU citizens (and the employees must legally reside in Cyprus continuously for the last five years before the date of application).
Investing in Alternative Investment Schemes or Financial Assets owned by Cyprus companies or organizations licensed by CySec
The applicant must purchase units of at least €2 million in Alternative Investment Funds (AIF) established in Cyprus and licensed by CySec and whose investments are made only in Cyprus under conditions approved by the Ministry of Finance.
The applicant can also purchase financial assets of Cyprus companies or organizations of at least €2 million such as bonds, bills and securities in companies that have presence and substantial activity in Cyprus.
Combination of Schemes
The applicant can invest in a combination of the above ways, with the total investment not being less than €2 million.
It is required that the applicant must also invest in special Government Bonds of the Republic of Cyprus for up to €500,000 and hold these bonds for a minimum of three years. Purchase of Government bonds from the secondary market is not possible under this scheme.
Conditions to Obtain Cyprus Citizenship
- The applicant must have a clean criminal record.
- The applicant must own a permanent residence in the Republic of Cyprus with the purchase price paid for the property being not less than €500,000 plus V.A.T. (If the purchase value of the permanent residence of the investor is greater than €500,000, then part of the additional sum can be used towards the total amount of the investment).
- At the time of submission of the application for Naturalization as a Cyprus citizen, the applicant must hold a valid residence permit in Cyprus or submit at the same time an application for an Immigration Permit.