According to the Council of Ministers’ decision of September 14, 2016, amending the Citizenship by Investment Programme, a non-Cypriot citizen may be entitled to Cypriot citizenship if he or she has made any of the below investments in Cyprus.
The citizenship-by-investment program grants full Cypriot citizenship to those who meet certain conditions and that invest more than EUR 2 million. Successful applicants can live, work and study in any out of all 28 EU member countries.
The Eligible Investments
- Investment in real estate, land development and infrastructure projects.
- Investment in financial assets of Cypriot companies or Cypriot organizations.
- Investment in Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec.
- Combination of the aforementioned investments.
Applicants who satisfy the criteria for applying for Citizenship must:
- Have a clean criminal record
- Their names must not be listed in the list of individuals whose assets are ordered to be frozen within the borders of the European Union
- Additionally, applicants must hold a permanent privately-owned residence in Cyprus, the market value of which must be worth of a minimum €500.000 plus V.A.T.
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The application for the Naturalization by Exception needs to be submitted at the Ministry of Interior.
The list of the necessary documents is as follows:
Applicant's personal documents:
- Immigration Application Form;
- Birth Certificate;
- True Copy of passport;
- Certificate of Clean Criminal Record from the country of origin and the country of residence (if different);
- Marriage Certificate/ Civil Partnership Certificate;
- Two passport size photographs;
- Curriculum Vitae;
- Copy of Residence Permit in the Republic of Cyprus.
Residence in the Republic of Cyprus
- Contract of Sale as a proof of residence in Cyprus;
- Proof of payment of the agreed purchase price;
- Copy of the wire transfer to a Cypriot commercial banking institution in the name of the seller.
Examination procedure of an application
Once an application is submitted the examination process begins. Provided that the application is dully submitted and accompanied by all the necessary supporting documents and the investor meets the criteria and conditions, the time frame for the completion of the process is approximately 3 (three) months. It should be noted that the application submission date is the date on which the submission fees were paid that is noted on the receipt issued by the Cashier’s Office of the Ministry.
Once the application is approved, the applicant will be able to take all actions for the acquisition of the Citizenship and the issue of a Cypriot passport. The procedure for the acquisition of the Cypriot citizenship will be completed, provided that the applicant holds a residence permit for a period of at least 6 (six) months. If the applicant does not hold a residence permit for the aforementioned time period, he/she will need to wait until the six- month period is completed. Afterwards, the Civil Registry and Migration Department issues the Certificate of Naturalization, following payment of the Naturalization Certificate issuing fee. Subsequently, the applicant will need to give the Oath of Faith to the Cypriot Republic before a Registrar of a Cypriot court or a consular officer of the Republic of Cyprus. Once this procedure is completed the applicant will be able to acquire a Cypriot passport and Identity Card.
Acquisition of an Immigration Permit
Please note that prior to the naturalization as Cypriot citizen, the applicant must hold a residence permit in Cyprus (as explained above).
For the issuance of the Immigration Permit the collection of the applicant’s biometric data (fingerprints and photograph) and signature is mandatory. In order for the biometric data to be collected the applicant is required to appear in person at the Civil Registry and Migration Department. Moreover the applicant needs to present an original travel document. After the collection of the biometric data, the Immigration Permit (card) is issued within five working days.
The Advantages and Benefits of getting a Cyprus Passport.
Whole Family Acquires the Cypriot Citizenship
The Applicant, his spouse and dependent children can acquire Cyprus citizenship based on the Applicant’s investment, and everyone shall enjoy the same rights and benefits.
Cyprus passport holders automatically become EU citizens and are entitled to all rights, benefits and freedoms which EU guarantees amongst its’ citizens – see more details below under EU Passport Benefits.
Free Travel Visa
Cyprus passport holders have free access to all 28 EU countries and to other over 150 countries and regions in the world.
- Basic Education - Public primary schools are free of charge in Cyprus, for Cyprus passport holders.
- Higher Education - Higher education in public universities are free of charge in Cyprus, for passport holders, and they further are entitled to discounted education in private universities.
Rights of Voting and Being Elected
Cyprus passport holders can vote in the local and national elections or can serve as electees to create a promising future.
EU Passport Benefits:
No matter where you live in the EU, as a citizen of European Union Cyprus passport holders enjoy the privileges of EU membership, including EU programs on welfare, medical care, citizen and human rights, education. It further provides discounted university education in any EU state, including the UK, France and Germany
Cyprus passport holders can live in any EU member state they wish to live, without restrictions or bureaucratically approved conditions. EU passport means “United EU Member States” according to the EU regulations on freedom of movement.
Cyprus passport holders have no immigration limits in seeking job opportunities in any EU country.
Wherever you live in the EU, there you will be taxed. So, its’ up to the Cyprus passport holder to choose which EU country fits’ him/her more according to their tax incentives, or otherwise.
EU medical facilities probably are some of the best you can find. Cyprus passport holders can enjoy them without limits or restrictions.
EU passport holders can enjoy high standards of higher, postgraduate or other type of education in any EU member state.
Our dedicated Immigration team is happy to meet you and give you a whole description of the process.
We provide assistance and representation all the way until successful outcome. We ensure that whatever is necessary to be done, is duly done on time. We assist you on completing all necessary forms (M127) and submit all mandatory documentation.
At AGP we aim at providing A to Z service package to our clients with the minimum possible inconvenience caused.
The steps we follow are simple, though strategically chosen:
- We understand the client and his/her profile,
- We discuss with the client his/her future plans and intentions,
- Subject to 1 and 2 above, we provide our client with recommended projects which we have in advance examined and any foreseeable risks have been eliminated,
- Subject to 3 above, we proceed with implementation of the investment through means that our client is secure at maximum.
- Upon completion of 1-4 above, we proceed with the necessary applications to the Ministry of Interior and we follow up all the way up until naturalization.