Home European Citizenship Cyprus Citizenship by Investment Guide - Savory & Partners

Cyprus Citizenship by Investment Guide – Savory & Partners

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0:00 – Introduction
In this video, we will introduce the Cyprus program for obtaining citizenship through investment.

0:23 – About the Cyprus Citizenship by Investment Program
The Cypriot Citizenship by Investment program started accepting applicants in 2002 and was later amended to simplify the process. The straightforward and quick process made it one of the most attractive citizenship programs for investors.

To be eligible to apply for this program you must be over 18 years old, in good health and without a criminal record. Additionally, you must hold a valid Schengen visa.

Furthermore, you are required to make a combined investment in a real estate project and a non-refundable contribution to government projects.

0:57 – Investment Options
To qualify for the Cyprus Citizenship by Investment program, you are required to make a combined investment in 2 categories.

The first category is an investment of at least 2 million euros which can be a purchase or construction of buildings, investment in different land development projects or infrastructure projects.

The property purchase option has proven to be the most attractive for investors because the property can be rented and can also be re-sold after a required holding period of five years. However, if you choose to sell your property, you are required to still hold property worth at least 500,000 EUR to retain your citizenship.

Furthermore, if you own property purchased up to three years before the submission of the citizenship application, it can be counted toward the required real estate investment.

The other category is a donation of 75,000 euros to the Cyprus Research and Innovation Foundation and another 75,000 euros the Cyprus Land Development Corporation.

In addition to the minimum investment, there are government processing fees and professional fees that apply to your application.

2:14 – The Process of obtaining a Cyprus Citizenship by Investment
The process for acquiring Cypriot citizenship by investment is divided into 6 steps over a period of 6-8 months. Please note that the process can vary, depending on your choice of investments in the first category. Due to the popularity of purchasing property, we will mainly focus on the process of this investment option.

Step one, we will do an initial background check to make sure you are qualified to apply to the program. If you pass the qualification process, a down payment of our professional fees is required to start working on your application and move to the next step.

Step two, you may visit Cyprus to choose and reserve your real estate project. During this or a future visit, you are required to provide your biometric data.

Step three, our team will prepare all the property documents and draft the purchase agreement. After signing the agreement, it will be submitted to the land registry, at which point you are required to transfer the funds to complete the purchase.

Step four, our team will assist you in collecting the required documents for the citizenship application. You and your spouse are required to apply for a Permanent Residency Permit.

Optionally, after approval and having held your residency for 6 months, any dependents above 18 years old may apply for a permanent residency card with their biometric data.

Step five, your citizenship application is submitted, which takes approximately 6-8 months to be approved.

Step six, after your application is approved and you’ve held your permanent residency for at least 6 months, you are required to visit Cyprus to swear the oath of allegiance. At the same time, you can submit your passport application and receive your passport soon after.

4:00 – The Benefits of Cyprus Citizenship
As a citizen of Cyprus, you are also a citizen of the European Union and entitled to consular protection and support from any European union consulate globally.

The Cypriot passport allows you travel visa-free or with visa-on-arrival to more than 170 countries and territories worldwide including the European Union, the United Kingdom and Canada.

You and your family are entitled to study in schools or universities across the European Union for free or at discounted rates exclusive for European union citizens.

You can also enjoy the unrestricted right to live, work, study and expand your business in the European Union and have access to world-class healthcare.

Cyprus has one of the lowest taxation rates in Europe with no foreign income tax, inheritance tax or withholding tax on interest earned.

Additionally, Cyprus allows dual citizenship, permitting you to keep your existing nationality.

4:58 – Frequently Asked Questions
5:01 – 1. Can I include my family?
5:27 – 2. Are there any interviews, language tests, or work experience requirements?
5:39 – 3. What if I get rejected?

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