CYPRUS INVESTMENT PROGRAM
Becoming a citizen of Cyprus is a straightforward and seamless process that provides any applicant the rights of any other European citizen. High net worth individuals and investors, who wish to invest in Cyprus, can take advantage of the highly attractive program the Cyprus government has implemented, which is the automatic granting of Cypriot citizenship upon investment.
The program has met immense success which it owes to the following facts:
- It is the quickest procedure in Europe with passports issued within 6 months of application;
- No donated amounts;
- Investment can be disposed of after 3 years;
- Spouse and children up to 27 years can be included with no additional investment requirements;
- No language or interview requirements;
- All nationalities are eligible.
Benefits of Cyprus
Apart from being a popular holiday destination, the island of Cyprus is ideal for investing in and living in, such as:
- Attractive Tax System;
- Optimal living standard;
- One of the Safest Countries Worldwide;
- One of the best countries to be born in according to the Economist;
- One of the top tier countries for doing business in;
- Applicants can have multiple citizenship.
Frequently Asked Questions Regarding Cyprus Investment Program (CIP)
What are the pre-requisites for qualifying for the CIP?
- Clean criminal record
- Obtain Cyprus residency, which can be applied for together with the citizenship application
- Investment of a value of €2.000.000 in Cyprus whereby at least €500.000 is own in residential property in Cyprus.
How much do I need to invest to be eligible for CIP?
The investor must make an investment, which can be in real estate, development of land or infrastructure projects, or, alternative investment schemes, or through purchase, registration or participation in Cyprus companies and businesses of a value of €2.000.000. The investment can also be made through a combination of the options provided.
The minimum investment requirements are:
- A residential property of €500,000, to be kept for life
- A further investment of €1,5 million in residential property, to be kept for 3 years, or a further investment of €2 million if this is not exclusively in residential property.
Are direct family members included in the CIP?
- The children of the applicant up to the age of 28 years can be included on the same application without any further investment requirements; and
- The parents of the investor are also eligible with an additional investment requirement to purchase residential property in Cyprus of a value of at least €500,000.
How can you assist through this process?
We are one of the few local law firms in Cyprus, well equipped with the expertise to assist you with the preparation and filing of a successful application under the CIP.
At Dionysiou & Partners LLC (DP Law Cyprus), we can provide, in addition to advice and guidance relating to a successful investment, actual assistance with sourcing same and with safeguarding our client’s interests, rights and needs by drafting and negotiating all appropriate legal contracts and ancillary documentation.
We will see you through the complete process, ensure every stage is executed and completed correctly and provide impartial advice on investment opportunities as well as guide you through the practicalities of the process and the governmental departments.
What are the basic steps of the procedure of the CIP?
Engage DP Law – We will see you through the process from beginning until the actual issuance of your Cyprus passport.
Residential Property in Cyprus of a minimum value of €500,000 (net of VAT) to be acquired – We will assist in every aspect of the process of acquisition of the property;
Invest – An investment of €2,000,000 to be made in the Cyprus economy, through a combination or one of the options provided for in the scheme (real estate, development of land or infrastructure projects, or, alternative investment schemes, or through purchase, registration or participation in Cyprus companies and businesses);
Filing application – All necessary documents will be duly submitted to the Ministry of Interior, together with an application for a residence permit. The residence permit is issued within 5 working days of filing;
Citizenship – Cyprus citizenship is automatically granted, within 6 months after the residence permit is issued.