An Island country in the Mediterranean famous for its surreal beaches and temperate weather round the year; Cyprus is a holiday seekers’ ideals destination. The country boasts of serene beaches and idyllic resorts along the scenic Mediterranean Sea. In recent years, Cyprus has also diversified its economy to emerge as an international banking destination. The country joined the European Union in 2004 and the Euro-zone in 2008. This has enabled the residents and businesses established in Cyprus to benefit from the freedom of movement of goods, services, people, and capital throughout the entire European Union.
Cyprus License Overview
Cyprus has one of the only two approved “Citizenship for Investment” programs in the European Union. As a citizen of Cyprus, you also become a citizen of the European Union providing you the freedom of movement and work across the entire union. The program was called the “Scheme for Naturalization of Investors in Cyprus by exception” and is regulated under the “Scheme for Naturalization of Investors in Cyprus by Exception, 2013”. The implementation of the scheme is governed by the Ministry of Interior, Cyprus, and final Guidelines under Section 111A of the Civil Registry Laws, 2003 were made in 2014. The Council of Ministers decided to abolish the existing Cyprus Investment Program. The decision is valid from November 1, 2020.
Cyprus by Investments Overview
The Council of Ministers decided to abolish the existing Cyprus Investment Program. The decision is valid from November 1, 2020. All pending applications will continue to be examined; no new applications will be accepted.
According to the Council of Ministers Decisions (dated 13.09.2016 and subsequent decision 21.05.2018), non-Cypriot Investors can acquire the Cyprus Citizenship by Naturalization and the Cyprus Passport for them and their families (by the exception based on the Civil Registry Laws of 2002 – 2017).
From 2020, Cyprus offers two types of Golden Visas, one of which leads to citizenship, whereas the other to permanent residence. To get Cyprus citizenship by investment, the applicant must purchase real estate property worth at least €2 million (excluding VAT). Additional €500,000 into property purchase must be added if applicant wants to include spouse or parents. If you used the Golden Visa program to get a Permanent Residence Card, you only need to visit Cyprus once every two years, for a maximum period of one day in order to renew it.
Requirements for Cyprus Citizenship by Investments
Beside buying the real estate worth at least €2 million, there are other requirements for Cyprus Citizenship by Investments.
- No criminal records
- €100,000 donation to the Cypriot Government Research and Development Fund and another €100,000 donation to the Cypriot Land Development Organization. In total, the entire investment must be €2.2 million
- Commit to the investment before applying for the Golden Visa
- Transfer the money for the investment from abroad
How to get a Cyprus Golden Visa?
The applicant must submit Application at the Ministry of Interior. The ministries of Interior and Finance examine the application for naturalization and present it to the Council of Ministers for approval. The applicant will receive a six-month residence permit, which allows to stay in Cyprus or travel in and out of the country while the application finalizes. After approval the Civil Registry and Migration Department issues the Certificate of Naturalization. Applicant needs to to give bio-metrics so that his passport can be issued. He is also entitled to apply for the issuance of the Cyprus identity card at the local District office. Cypriot passport and an ID card are issued very fast.
How we can assist?
Empire, a leading Professional Services & Advisory Firm focused on immigration and residency offers you a simplified path to apply for the CIP program and secure approvals within the shortest possible time. With our team of immigration experts, you are assured that your application is in informed hands. If you are interested in obtaining more information about this program, please complete this short online application. One of our representatives will be in contact with you. You can reach us by phone at +60350331665 or visit our website empireglobal.partners. We also look forward to your emails at email@example.com. We offer clear written contract agreements mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful.