Obtaining the Cypriot Citizenship through investments in Cyprus For Foreigners & Their Families

Our firm comprises of a specialised Immigration Department dealing exclusively with the Cyprus Permanent Residency Programme and the Naturalisation by Exception to obtain a Cypriot Passport - Citizenship Programme.

The dedicated Immigration Department has expertise in Property Law, Immigration Law and noteworthy experience in the immigration domain. Clients are offered a complete service and full legal support for all the actions that need to be executed in order to apply under the Cypriot Immigration by Investment Programmes or indeed any other immigration related matters arising in Cyprus. Additionally this Department provides services for corporate relocation either for local clients or international organizations seeking to establish a base and business in Cyprus.

The Republic of Cyprus allows applications from foreign investors to obtain the Cyprus Citizenship by investment under the provisions of the Council of Ministers’ Decision of 13 September 2016 which brought into effect the Naturalisation By Exception Programme on the basis of Article 111A(2) of the Civil Registry Laws of 2002-2015.

  • A non-Cypriot citizen that fulfils one of the Financial Criteria, may apply for the acquisition of Cypriot Citizenship
  • The applicant’s spouse and all financially dependent children up to the age of 28 can apply on the basis of the main applicant’s investment
  • The main applicant’s parents may also apply on the basis of the main applicant’s investment and only purchase an additional residence in Cyprus
  • The investments start at €2 million and the highest required investment amount is €2,5 million
  • Naturalisation application can be approved in 3 months and passport issued in 6 months

OUR SERVICES

Our Law Firm has a dedicated Immigration and Real Estate Department and the team has extensive experience and expertise in the Immigration Law domain and acquisition of real estate in Cyprus and especially in the immigration by investment programs currently in force. We offer our clients a complete service and full legal support for all the actions that need to be executed in order to apply for and acquire the Cyprus Citizenship from the beginning and up to the issuance of the applicants’ passports and identity cards

  • Legal Due Diligence on real estate to be purchased
  • Drafting and Preparation of Sale Contracts
  • Bank Account opening and Introduction services with Cypriot Banks
  • Assistance and support for the purchase of units in qualifying Alternative Investment Funds
  • Registration of Cypriot Company and administrative services
  • Opening of Share Account at the Cyprus Stock Exchange
  • Opening of Depository Account at the Cyprus Stock Exchange
  • Preparation of all documents relating to the application from the outset of the process and submission to the relevant Ministry
  • Reduced VAT application preparation and submission
  • Issuance of the passports and ID’s

THE FINANCIAL CRITERIA

Applicants may choose an investment of €2 million from below and hold it for 3 years:

  • Investments in real estate, land development and infrastructure projects. This includes the purchase or construction of buildings and land development projects (residential or commercial) and investment in land under development provided that an investment plan is presented, or
  • Investments by purchasing or establishing or participating in Cypriot Companies or Businesses. The funds should be applied towards the financing of the investment objectives of the companies exclusively in Cyprus, based on a specific investment plan. The companies must have physical presence in Cyprus, with significant activity and turnover and employ at least five Cypriots or citizens of European Union member-states, or
  • Investments in Alternative Investment Funds (AIF) or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec. The purchase of units from AIF’s established in
    the Republic of Cyprus, licensed and supervised by the CySec and whose investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this program or in areas approved by the Minister of Finance, or
  • Combination of the aforementioned investments and purchase of special government bonds of the Republic of Cyprus, up to €500.000.

THE CONDITIONS

  • Clean Criminal Record from the country of origin and residence. Must not be included on the list of persons whose property is ordered to be frozen within the European Union
  • Residence in the Republic of Cyprus: the applicant must own a permanent residence, of at least €500,000 plus VAT. This condition may be satisfied with no further investment needed in a residence, if the applicant purchases a residence of €2 million under the financial criterion above for the Investment in Real Estate or if the applicant has invested in housing units and one of these housing units is worth at least €500,000,plus VAT, provided that the applicant retains the possession of the residence for life.
  • Residence Permit in Cyprus: The applicant and all other adult members of his family, prior to their naturalization Cypriot citizens, must hold a residence permit (immigration permit) on the basis of Regulation 6 (2) of the Aliens and Immigration Law, simultaneously with the application for naturalization.

THE ADVANTAGES

  • Fast-track to Citizenship as the examination of the application is around 3 months
  • Under European Union Law, as citizens of a European Union Member State, all Cypriot nationals also have the right to work, freely travel to and reside throughout the Member States of the European Union
  • Right to reside in Cyprus without the need for any further formalities such as renewals and visas
  • Visa free/upon arrival travel to approximately 150 countries
  • Spouse and children up to the age of 18 can be added to the application for naturalisation. Children of ages 18 up to 28 can also be included in the application provided they are financially dependent students
  • The parents of the main applicant can be added to the application for naturalization with no further investment needed. A permanent residence of at least €500,000 plus VAT is required
  • English is widely spoken
  • Legal system is based upon the English legal system and common law
  • No income tax implications unless residing in Cyprus for more than 183 days per year
  • The investment can be sold in 3 years after naturalisation has been approved

Contact Us

This outline has been prepared for the assistance of clients considering to invest in Cyprus. It is only intended to provide a brief summary of the main legal requirements and it is not intended to be a comprehensive guide in its scope.

It is recommended that a client seeks legal advice prior to taking any steps to implement it.

This outline has been prepared on the basis of the law and practice as at November 2016.


Email:

immigration@tplaw.com.cy
info@tplaw.com.cy
npapaefstathiou@tplaw.com.cy
mclappa@tplaw.com.cy
dpapaefstathiou@tplaw.com.cy


Telephone: +357 22 88 9999
Facsimile: +357 22 88 9988


Tassos Papadopoulos & Associates LLC
Lawyers / legal consultants
10, Iasonos Street
Jason Building
1082 Nicosia
Cyprus

Our past, our experience are solid foundations. One thing they taught us is that sometimes we need to step back and look at things from a different angle.

Obtaining the Cypriot Citizenship through investments in Cyprus For Foreigners & Their Families

Our firm comprises of a specialised Immigration Department dealing exclusively with the Cyprus Permanent Residency Programme and the Naturalisation by Exception to obtain a Cypriot Passport - Citizenship Programme.

The dedicated Immigration Department has expertise in Property Law, Immigration Law and noteworthy experience in the immigration domain. Clients are offered a complete service and full legal support for all the actions that need to be executed in order to apply under the Cypriot Immigration by Investment Programmes or indeed any other immigration related matters arising in Cyprus. Additionally this Department provides services for corporate relocation either for local clients or international organizations seeking to establish a base and business in Cyprus.

The Republic of Cyprus allows applications from foreign investors to obtain the Cyprus Citizenship by investment under the provisions of the Council of Ministers’ Decision of 13 September 2016 which brought into effect the Naturalisation By Exception Programme on the basis of Article 111A(2) of the Civil Registry Laws of 2002-2015.

  • A non-Cypriot citizen that fulfils one of the Financial Criteria, may apply for the acquisition of Cypriot Citizenship
  • The applicant’s spouse and all financially dependent children up to the age of 28 can apply on the basis of the main applicant’s investment
  • The main applicant’s parents may also apply on the basis of the main applicant’s investment and only purchase an additional residence in Cyprus
  • The investments start at €2 million and the highest required investment amount is €2,5 million
  • Naturalisation application can be approved in 3 months and passport issued in 6 months

OUR SERVICES

Our Law Firm has a dedicated Immigration and Real Estate Department and the team has extensive experience and expertise in the Immigration Law domain and acquisition of real estate in Cyprus and especially in the immigration by investment programs currently in force. We offer our clients a complete service and full legal support for all the actions that need to be executed in order to apply for and acquire the Cyprus Citizenship from the beginning and up to the issuance of the applicants’ passports and identity cards

  • Legal Due Diligence on real estate to be purchased
  • Drafting and Preparation of Sale Contracts
  • Bank Account opening and Introduction services with Cypriot Banks
  • Assistance and support for the purchase of units in qualifying Alternative Investment Funds
  • Registration of Cypriot Company and administrative services
  • Opening of Share Account at the Cyprus Stock Exchange
  • Opening of Depository Account at the Cyprus Stock Exchange
  • Preparation of all documents relating to the application from the outset of the process and submission to the relevant Ministry
  • Reduced VAT application preparation and submission
  • Issuance of the passports and ID’s

THE FINANCIAL CRITERIA

Applicants may choose an investment of €2 million from below and hold it for 3 years:

  • Investments in real estate, land development and infrastructure projects. This includes the purchase or construction of buildings and land development projects (residential or commercial) and investment in land under development provided that an investment plan is presented, or
  • Investments by purchasing or establishing or participating in Cypriot Companies or Businesses. The funds should be applied towards the financing of the investment objectives of the companies exclusively in Cyprus, based on a specific investment plan. The companies must have physical presence in Cyprus, with significant activity and turnover and employ at least five Cypriots or citizens of European Union member-states, or
  • Investments in Alternative Investment Funds (AIF) or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec. The purchase of units from AIF’s established in
    the Republic of Cyprus, licensed and supervised by the CySec and whose investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this program or in areas approved by the Minister of Finance, or
  • Combination of the aforementioned investments and purchase of special government bonds of the Republic of Cyprus, up to €500.000.

THE CONDITIONS

  • Clean Criminal Record from the country of origin and residence. Must not be included on the list of persons whose property is ordered to be frozen within the European Union
  • Residence in the Republic of Cyprus: the applicant must own a permanent residence, of at least €500,000 plus VAT. This condition may be satisfied with no further investment needed in a residence, if the applicant purchases a residence of €2 million under the financial criterion above for the Investment in Real Estate or if the applicant has invested in housing units and one of these housing units is worth at least €500,000,plus VAT, provided that the applicant retains the possession of the residence for life.
  • Residence Permit in Cyprus: The applicant and all other adult members of his family, prior to their naturalization Cypriot citizens, must hold a residence permit (immigration permit) on the basis of Regulation 6 (2) of the Aliens and Immigration Law, simultaneously with the application for naturalization.

THE ADVANTAGES

  • Fast-track to Citizenship as the examination of the application is around 3 months
  • Under European Union Law, as citizens of a European Union Member State, all Cypriot nationals also have the right to work, freely travel to and reside throughout the Member States of the European Union
  • Right to reside in Cyprus without the need for any further formalities such as renewals and visas
  • Visa free/upon arrival travel to approximately 150 countries
  • Spouse and children up to the age of 18 can be added to the application for naturalisation. Children of ages 18 up to 28 can also be included in the application provided they are financially dependent students
  • The parents of the main applicant can be added to the application for naturalization with no further investment needed. A permanent residence of at least €500,000 plus VAT is required
  • English is widely spoken
  • Legal system is based upon the English legal system and common law
  • No income tax implications unless residing in Cyprus for more than 183 days per year
  • The investment can be sold in 3 years after naturalisation has been approved

Contact Us

This outline has been prepared for the assistance of clients considering to invest in Cyprus. It is only intended to provide a brief summary of the main legal requirements and it is not intended to be a comprehensive guide in its scope.

It is recommended that a client seeks legal advice prior to taking any steps to implement it.

This outline has been prepared on the basis of the law and practice as at November 2016.


Email:

immigration@tplaw.com.cy
info@tplaw.com.cy
npapaefstathiou@tplaw.com.cy
mclappa@tplaw.com.cy
dpapaefstathiou@tplaw.com.cy


Telephone: +357 22 88 9999
Facsimile: +357 22 88 9988


Tassos Papadopoulos & Associates LLC
Lawyers / legal consultants
10, Iasonos Street
Jason Building
1082 Nicosia
Cyprus

Our past, our experience are solid foundations. One thing they taught us is that sometimes we need to step back and look at things from a different angle.