CYPRUS INVESTMENT PROGRAMME/CITIZENSHIP BY INVESTMENT
Dual citizens enjoy certain benefits, such as the ability to live and work freely in two countries, with access to all of the privileges and benefits that each country provides. This makes travelling infinitely easier by eliminating the need for special visas, and can prove particularly advantageous in times of crisis and political instability. One of the latest examples confirming this is the COVID-19 pandemic crisis, when dual citizens had the advantage to choose refuge in the country, Cyprus among them, with better epidemiologic situation.
Cyprus Investment Programme is a program, approved by the Council of Ministers of Cyprus as of September 13, 2016, which allows non-Cypriot individuals, who meet certain economic and other criteria, to obtain Cypriot citizenship by investment. Family members of the investor (spouse, children, elderly parents) can also obtain citizenship, and the benefits of the naturalization are past to the future generations.
As of July 31 2018, Cyprus introduced the Registry of Service Providers, members of which are accredited to accompany the filing of application and due diligence report with the Minister of Interior for applicants who wish to acquire Cypriot citizenship within the scope of the “Cyprus Investment Programme”.
To meet the financial criteria, the investors should have made the required investments during the 3 years prior to the date of application and to maintain the said investment for a period of at least 5 years from the date of Naturalization:
1. The applicant must have made an investment of at least € 2.0 million in developments in real estate, tourism sector or other infrastructure projects, or alternative investment funds or companies established and operating in the Republic of Cyprus. These invested funds must be channelled for financing the investment purposes exclusively in Cyprus, on the basis of an investment plan.
2. The applicant must have made a donation of at least € 75,000 to the Research and Innovation Foundation and a donation of at least € 75,000 to the Cyprus Land Development Organization.
3. The applicant must be the owner of a permanent private residence in the Republic of Cyprus, with a market value of at least € 500,000 plus VAT.
A combination of various categories of investment and shared real estate property investments will be also taken in consideration.
Given the tightening policy of the Cyprus Government in regards to the requirements of investors’ origin of funds used as an investment in the Republic of Cyprus with the subsequent possibility of applying for citizenship by investment, the support of an accredited Service Providers with expertise in migration and tax consulting services is significant.
As Service Providers registered with the “Cyprus Investment Programme” and professional tax consultants, we will be able to prepare your
- professional investor profile
- compliance portfolio and due diligence report
- all necessary application forms
Our team is always ready to advise and assist clients with the filing of documentation required for the obtainment of citizenship through investment in Cyprus, taking into account all present requirements, which will considerably increase your chances to obtain a positive response to your application in a timely manner.
In addition to the above, we will undertake the handling of residency issues of any category, based on specific circumstances and full range of legal services and support through our affiliated law firm, also part of Arnos Group of companies.
Some key factors that make Cyprus an attractive destination for investment and privileges of Cypriot citizenship are:
High quality of life - beautiful beaches, 11 months of sunshine a year, welcoming friendly people, relaxed Mediterranean lifestyle supported by modern infrastructure, presence of reputable academic institutions,and access to quality medical services position Cyprus as one the most favourite destinations for immigration.
Safe environment – Cyprus is a country with one of the lowest crime rates in the EU. Stable government and robust legal framework, based on British common law, and synchronized with the EU directives are just few of the foundations of the security and stability conditions prevailing in the country.
Visa Free Travel - Cypriot passport allows instant travel, with visa-free or visa on arrival access to 171 countries – all countries of the European Union and Schengen zone the United Kingdom, Australia, Canada, Singapore, Hong Kong, and many more countries, the list of which is constantly growing. Being a member of EU, Cypriot citizens have the right to travel freely, live and work anywhere within the 28 countries in the European Union.
Beneficial business environment - Cyprus is the major financial hub in the Mediterranean because of its attractive and transparent tax regime, strategic location at the crossroads of Europe, Africa and Asia, access to EU market, reliable legislative and regulatory framework, strong business support services, specialization of human resources, and a banking system with good understanding of International Trust law. Not only does Cyprus have the lowest and most favourable tax rates in Europe, it also has many tax exemptions for non-residents and signed Double taxation treaty with 43 countries.
The main goal of the economic policy of the Republic of Cyprus is the further encouragement of foreign direct investments and the attraction of high income individuals for their establishment and activity in Cyprus. The Cypriot Government has enforced favourable immigration policies, and the efficient fast track scheme will allow investors to obtain citizenship in just 6 month.
The main fields of investment considered to be advantageous and highly promoted and developed over the last years in Cyprus are:
- Investment Funds
- Real Estates
- Innovation & Start-ups
- Tourism & Hospitality
- Media Production
Tourism is one of Cyprus’ most strong economic sectors with a significant contribution to the country’s GDP. The natural and diverse beauty of the island, Mediterranean weather and cuisine, modern infrastructure and excellent services make Cyprus a premium touristic destination.
Investment in luxury resorts, marinas, large-scale development projects in all major seafront cities are expected to further stimulate this booming industry.
Acquiring property in Cyprus, either as an investment or as a second home, has always been a popular choice among foreign investors for both living and doing business. Historically, being a cornerstone of the Cyprus economy, the real estate and construction sector have experienced noteworthy growth and increased activity in the past years.
Cyprus is also fast becoming one of the top emerging investment fund centres in Europe, The continuous upgrading of legislative and regulatory regime and the recapitalised and modernised banking sector are ensuring the security and transparency of the sector, which has attracted significant amounts of foreign investments in the past years.
Furthermore, participation in an investment fund which is oriented in the property development sector will reduce the risk of volatility in the real estate market to the investors, offering unique access to high-growth markets, as well as securing the possibility to apply under the “Cyprus Investment Programme” fast track scheme.
We can offer ready for sale properties and investment schemes. By buying real estate from us you will also get the opportunity to correctly register your investment and due diligence report. You can check our real-estate objects and/or projects available for immediate purchase here.