Basic Eligibility for Cyprus CIP
The Scheme for Naturalization is open to all individuals who fulfill the requirements laid down by law. The Nationalization scheme enables individuals to acquire Cypriot Citizenship which would allow them to move throughout the Schengen Region.
The basic eligibility for an applicant is that:
- he/ she is at least eighteen years of age;
- submits all additional documents as required;
- has a clean criminal record (including all his dependants) have passed the due diligence test and is a fit and proper person;
- He owns a residence valued at a minimum of €500.000, plus V.A.T. in Cyprus. The Contract of the sale of the property, receipt of payment, property title and evidence of wire transfer and other documents showing ownership of property may be required.
- Provides information about investment in property/ company/ bonds etc. as required (described in detail later)
Requirements for investment
There are eight ways through which investment requirement may be fulfilled in Cyprus CIP.
(a) Investment in Government Bonds
An investment of a minimum of 5 million Euros must be made in Cyprus Government Bonds. As per the latest regulations, the bonds must be purchased from a primary source, i.e. directly from the Government.
(b) Investment in financial assets of Cypriot companies or Cypriot organizations
An investment of a minimum of 5 million Euros must be made in financial instruments such as shares, bonds or debentures issued by a Cypriot company in Cyprus.
(c) Investment in real estate, land development and infrastructure projects
An investment of a minimum of 5 million Euros must be made in development of tourism projects, building or residential projects or similar other ventures.