Your access to Europe – Cyprus passport
- Free Movement of People
- Freely travel and reside (and work) within the EU
- All family members can obtain Cyprus citizenship
- i.e Spouse of applicant, children aged under 18 years, and adult dependent children (aged over 18 years and up to 28 years)
- Free Movement of Capital
- Transfer any amount of money from any EU Member State to another, purchase of property in any EU Member State of choice and invest in any activities of choice
- Free Movement of Services
- Establishment and free movement of services – individual citizens and companies can offer services without hindrance in all EU Member States
- Free Movement of Goods
- All goods produced in EU Member States can be transferred freely from any Member State to another
Financial Criteria and other required conditions
The following economic criteria must be met:
- Investments of at least €5 million or Collective Investments €2.5 million per investor for investments of at least €12.5 million. Cyprus Citizenship shall be granted to the applicants who invest directly in Cyprus property as below:€2,500,000 in properties and also owns €500,000 plus VAT residence
The investment in properties can be anything from residential units, commercial units (offices & shops), hotels, or any other kind of property apart from undeveloped land, or any combination of these.
If the investor decides to invest in only ONE RESIDENTIAL property, then the value of this property, in order to qualify, could be no less than €2,500,000.
- Deposits in Banks operating in Cyprus of €5 million or
- Combination of the above criteria amounting to €5 million or
- Impaired Deposits in the Popular Bank of at least €3 million.
In addition to the criteria mentioned above, the applicant must fulfill the following Terms and Conditions:
- Clear Criminal Record. Not to be included in the list of persons whose property is ordered to be frozen within the EU
- Privately owned residence in the Republic of Cyprus, the cost of which must exceed the amount of €500.000 excluding VAT
- A high-ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenue of at least €100.000 for a three year period and provided that this tax has already been paid or prepaid.
- In case an investor purchases solely a residence of minimum €5 mln, or €2.5 mlm (under the relevant criteria) he/she is not obliged to buy an additional residence of €500.000.
Key information to have in mind
- Applicant does not become a tax resident in Cyprus, unless he/she spends more than 183 days in any one calendar year
- The approval of Citizenship under the relevant Decision is granted by the Cyprus Council of Ministers
- The application package is submitted to the Ministry of Interior. The Ministry of Finance assesses the economic criteria
- Main applicant and his/her spouse apply concurrently. Upon approval, children’s applications follow
- After examination by the two Ministries, the application is presented to the Council of Ministers
- The application processing usually takes 3-6 months
- The Council of Ministers has complete discretionary power regarding these decisions
On the basis of a Council of Ministers’ Decision (dated 19/03/2014), non Cypriot Investors, can acquire the Cyprus Citizenship by Naturalization (by exception on the basis of the Civil Registry Laws 2002-2013).