THE REPUBLIC OF CYPRUS OFFERS THE POSSIBILITY TO LEGALLY OBTAIN A EUROPEAN UNION PASSPORT AFTER 180 DAYS

 

 

The Republic of Cyprus

 

The Republic of Cyprus is an important hub in the heart of the Mediterranean at the crossroads of Europe, Africa and Asia. Cyprus is diverse, culturally rich and perfectly placed for working and traveling within the EU.

 

Benefits of being a Cypriot citizen include:

 

• Visa-free or visa on arrival access to 171 countries and territories worldwide

• Right of residence and work across the European Union and Switzerland

• Rule of Law and protective framework for Asset protection and tax compliant structures

• Access to higher education and health care within the EU

 

 

APPLICATION OVERVIEW

 

Personal requirements

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• Valid passport

• Valid Schengen visa

• Clean criminal records

• The applicant’s spouse and dependent children are included in the application

• The applicant’s parents may be included in the application under additional conditions

 

Financial requirements

 

A) Personal residence

 

The applicant must own a personal residence on the island for a market value of no less than €500’000 plus VAT (19%). The applicant must keep the residence for as long as he remains a Cypriot citizen. If the value of the personal residence is equal to or in excess of €2’000’000, investments in point C below do not apply. Also, if the investment in the personal residence exceeds €500’000, the difference will decrease the €2’000’000 investment requirement mentioned in point C below. Following a special scheme and under certain conditions, an applicant can apply for a reduced rate of VAT (5%) on the main residential property.

 

B) Mandatory donations

 

The applicant must make two mandatory donations of €75’000 each. The first donation goes to the Foundation for Research and Innovation to promote the creation of an entrepreneurial innovation ecosystem, and the second to the Cyprus Land Development Corporation to implement affordable housing projects.

 

C) Investments

 

The applicant must make a minimum investment of €2’000’000 into the Cypriot economy and maintain the investment for at least five years following the naturalization date.

 

Investment options are:

1)      Purchase of units for at least €2’000’000 in an Alternative Investment Fund (AIF) established in the Republic of Cyprus, licensed, registered and supervised by the Cyprus Securities and Exchange Commission (CySec), offering the highest level of investor protection.

 

2)     Investment of at least €2’000’000 for the purchase or construction of buildings or for the construction of other land development or infrastructure projects. Investment in land will be acceptable only with the submission of a relevant business plan showing the proposed development, and successfully obtaining the necessary planning permits.

 

3)      Investment of at least €2’000’000 for the purchase or participation in companies or organizations established and operating in the Republic of Cyprus. The investment must be channelled towards the financing of the investment objectives of these entities and must be based exclusively in the Republic of Cyprus. Additional requirements under this option is the creation of full physical presence of the SPV company in Cyprus, with an office and at least 5 full-time employees.

 

4)     A combination of the above-mentioned investments provided that the total investment amounts to at least €2’000’000.