EUROPEAN CITIZENSHIP NOW WITH 2.5 MILLION EURO INVESTMENT
The Council of Ministers of Cyprus has revised the criteria for investment and Scheme for Naturalization of non- Cypriot investors in order to assist with foreign investments. The amendments were done by the government authorities to attract investments and development in Cyprus.
THE ELIGIBILITY CRITERIA FOR APPLYING FOR NATURALIZATION
- Individual Investment in the Republic of Cyprus up to the amount of EUR 2,000,000
- Purchase of a Residence in the Republic of Cyprus with market value up to the amount of at least EUR 500,000, excluding VAT.
THE EUR 2,000,000 INVESTMENTS MAY BE INVESTED IN ONE OF THE FOLLOWING
- Purchase or construction of real estate or the creation of other developments in Cyprus. (Residential or commercial developments, developments in the tourist sector or other infrastructure projects). The investment must be in an area permitted to build in and an investment plan should exist for its development, while the purchase of real estate in an area considered to be in a zone of zero development, is excluded. In these cases, the purchase of an additional residence of EUR 500,000 is not required.
- Purchase, registration or participation in businesses or companies which are established and operating in the Republic of Cyprus. It has to be proven that, these businesses or companies have their physical control in the Republic and employ at least 5 Cypriots.
- Investing in Alternative Investment Institutions those of which are registered in the Republic of Cyprus and licensed by the Cyprus Securities And Exchange Commission (CYSEC) and are conducting investments only in the Republic. This way of investment also includes the purchase of financial assets up to the amount of EUR 2,000,000, such as bonds and securities licensed by CYSEC, from companies which demonstrably have physical presence in the Republic and are concerned with the financing of their investment.
COMBINATION OF THE ABOVE INVESTMENTS
The applicant may make a combination of the above investments, provided that the total investment will amount to at least € 2.000.000. Under this criterion, the investor may also invest in government bonds of Cyprus for the amount up to € 500.000, which will be issued for this purpose by the Public Debt Management Office of the Ministry of Finance, for a period of at least 3 years.
THE APPLICANT SHOULD MEET THE FOLLOWING CRITERIA
- The investments should be maintained for a period of at least 3 years.
- The applicant should have a clean criminal record.
ADVANTAGES OF INVESTMENTS IN CYPRUS
- All family members of the main applicant can also obtain EU citizenship.
- Travel to over 160 countries without the requirement of a visa.
- Free movement of capital services and goods.
- NO requirement to physically reside in Cyprus.
- Low tax regime.
- Access to regulated markets within Europe via regulated entities and funds licensed by the Cyprus Securities & Exchange Commission.
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