Cyprus is a booming Eastern Mediterranean property hot spot and in high demand with investors looking for great TAX incentives and to secure an EU passport and/or obtain residency status.
To live, work, travel freely within the EU, and travel without a visa in more than 160 countries.
Tax-Free Income for non-resident Cyprus investors.
Family member Cypriot citizenship eligibility.
When investing in commercial properties, development land or developments in the tourism sector, or a combination of all, applicants are required to invest EURO 2.5 million (excl. VAT),
Within this investment, the main applicant must include the purchase of a residential property at a value of at least EUR 500.000 (excl. VAT).
Should the applicant choose to invest solely in residential property, then the investment requirement decreases to EUR 2 million (excl. VAT).
At least one residential property of the properties purchased (if more than one property is purchased) must be at least EUR 500,000 (excl. VAT) and kept for life.
Investments must be retained for at least five (5) years from the date of receiving citizenship.
Additionally, mandatory donations are also required to the Research and Innovation Foundation and the Cyprus Land Development Corporation to a total of EUR 150,000.
Once the citizenship application is approved, the main applicant must donate at least €75,000 to the Research and Innovation Foundation and the equivalent amount to the Cyprus Land Development Corporation.
The donation to the Research and Innovation Foundation is lifted if the applicant:
1. Has invested at least €75,000 in a certified innovative enterprise, or a certified social enterprise, or
2. Has invested at least 20% of the required €2M (i.e. EUR 400,000) in a company which operates
within the primary, or secondary sector of the economy (excluding constructions), or in the sectors of research and
development, education, health and renewable energy sources
The main applicant should have made the necessary investments within the three years preceding the date of the application and must retain the said investments for a period of at least five years as from the date of the naturalisation. It is understood that the main applicant/ investor may replace the investment during the said five-year period, provided that he/ she has obtained beforehand approval by the Ministry of Finance.
For more information regarding obtaining Cypriot citizenship via investment, please contact our team to arrange a consultation with one of our experts.