Fast-track Cyprus Citizenship
Cyprus offers a fast-track procedure for direct path to citizenship within 3 months. The country boasts a rich and diverse culture, mild Mediterranean climate, a safe and stable setting which is ideal for residing, business, investments and travelling.
- Direct Cyprus citizenship without physical residence during or after the application procedure. (Currently, the only requirement is one visit every 7 years).
- No obligation to relinquish current nationality
- No language requirements for residence or citizenship
- Legal system based on English common law
- Unrestricted right to live, work and study in Europe
- Right to own land in an EU member state
- Strategic geographical location, forming a bridge between the EU, Middle East, and North Africa with direct access to the Mediterranean Sea
- Low crime rate, excellent education system with a number of high standard schools and universities and first-rate healthcare
- Outstanding holiday destination
ELIGIBILITY FOR CYPRUS CITIZENSHIP APPLICATION
- Must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least Euros 500,000 plus applicable VAT
- Making a financial investment through one of the investment options below and maintain it for the required duration
- Valid passport
- Provide documents supporting the source and origin of the declared funds for investment
- Provide proof that the applicant has no criminal record
- The applicant’s name must not be included in the list of persons whose property is ordered to be frozen within the boundaries of the EU
- Mixed investments and a donation to a state fund
Applicants must deposit Euros 2 million for the purchase of shares and/or bonds of the State Investment Company (under formation) and should make a donation of at least Euros 500,000 to the Research and Technology Fund.
Investors need to maintain the shares and/or bonds for a period of three years.
- Direct Investment
Applicants must make a direct investment of at least Euros 5 million in the purchase of one of the below:
- Businesses or companies
- Financial assets
Investors need to maintain ownership of the assets for a period of three years.
- Bank Deposit
Applicants must have a fixed term deposit of at least Euros 5 million for 3 years in a Cypriot bank.
- Combination of investment options 1, 2 and 3 amounting to minimum Euros 5 million.
- Business Activities
Applicants must be shareholders or beneficiary owners of a company, the management of which is in the Republic of Cyprus and the company has contributed at least Euros 500,000 per annum in the past 3 years to state funds (corporate tax, VAT, etc.)
- Persons whose deposits with the Bank of Cyprus or Popular Bank have been impaired
Applicants that have incurred an impairment in deposits on one or both of the aforementioned Banks amounting to a total of at least Euros 3 million can apply for Cyprus citizenship. In case that the impairment incurred is less than Euros 3 million, one can cover the difference by making an additional investment in the above-mentioned options.
Phase 1 by Main Applicant (and spouse)
- All necessary documents must be prepared by the applicant and signed before a Cypriot consul or a Court Registrar in Cyprus.
- Preparation of application file, signing of Sale Agreement for Residential Property and other required steps for the property transaction and completion of bank transaction.
- The Investment funds must settle into the Cypriot bank, the full purchase price of the residential property must be remitted into the developer’s account, and fees and costs must be paid.
- Application lodged at the Ministry of Interior.
- Approval, settlement of purchase price of residential property, settlement of remaining legal and processing fees.
- Issuance of naturalization certificate(s) and issuance of passport(s) for the main applicant and spouse.
Phase 2 by Family Members (subject to successful completion of Phase 1)
- All necessary documents must be prepared by applicant and signed before a Cypriot consul or a Court Registrar in Cyprus.
- Application lodged at the Ministry of Interior.
- Issuance of naturalization certificate(s) and issuance of passport(s) for the family member(s).
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Disclaimer: This publication does not provide financial, legal or tax or advice of any kind, and VALON cannot guarantee that the information is accurate, complete or up-to-date. While we intend to make every attempt to keep the information in this publication current, VALON make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained herein. Nothing on this publication should be used as a substitute for the advice of a third party. VALON assumes no responsibility to any person who relies on information contained herein and disclaim all liability in respect to such information. You should not act upon information in this publication without seeking professional advice.