The Cyprus Naturalisation by Exception scheme allows investors to obtain citizenship in Cyprus by various methods of investing or depositing finances into the vigorous EU economy.
The scheme allows non-EU nationals and their families to ascertain Cyprus citizenship and consequently an EU passport by participating as a Shareholder, incorporating a company or purchasing real estate on the island. There are a number of ways to do this.
Have you seen the March 2019 Updated Requirements?
Obtaining a Cypriot passport is beneficial for the following reasons:
- A Cyprus passport allows travel to over 140 countries worldwide with no visa.
- Dual citizenship is useful for tax planning and can protect the owner against political instability. (Cyprus allows for residents to have dual citizenship using 2 passports).
- Cyprus citizens can live and work in any country in Europe without applying for visa.
- Cyprus citizens have quick access to visas for other countries at a small and sometimes no cost.
- Cyprus citizens enjoy access to the best schools & health care institutions within Europe.
Investors are eligible for citizenship by completing one of the following transactions worth over €5 million euros:
1. Make a deposit into a Cyprus based bank account:
The investor (can also be a legal entity such as an incorporated company, or trust) is required to have a minimum number fixed deposits held in Cyprus banks for a timeframe of at least 3 financial years.
2. Investment, incorporation or participation in Cyprus businesses or companies:
The investor can purchase at least €5 million euros worth of investment projects, including the involvement in or the creation of a functioning business or company based in Cyprus.
Should you choose this option, the company must have a tangible presence in Cyprus, and must have a minimum of five Cypriot citizens.
3. Purchasing real estate, infrastructure projects or land:
The investor can also purchase any type of infrastructure projects, the construction of buildings, land, residential or commercial, tourism projects and all other real estate.
4. Purchasing financial assets in Cyprus companies:
The investor can also purchase financial assets of Cypriot companies or organisations (this could be in the form of debentures, bonds or securities that have been registered and issued in Cyprus).
Please note: the financial assets should be bought at the date of issue or subsequently by the market.
5. Purchasing state bonds in Cyprus:
The investor must purchase state or government bonds in the Republic of Cyprus totaling or exceeding €5 million.
6. Any combination of the above investments:
Investors may make fulfill the requirements using a combination of one or all of the aforementioned options as long as the collective combination totals a minimum of €5 million.
As with all legislation, immigration laws are constantly changing and our professionals can keep you up to date and in the loop! Call us for help and support, we would be happy to answer any questions you may have about obtaining a Cyprus Passport by Naturalisation. For a full list of services and how we can be of assistance to you during this process, please contact us.