Cyprus Citizenship by Investment Program

Country at a glance

Among Europe’s most popular holiday destinations, the island of Cyprus is host to an abundance of seaside resorts, luxury villas, ancient temples and haute cuisine. Strategically positioned between southern Europe and the Levant, Greeks and Turks today share this former outpost of the British Empire.

Population: 1.1 million
Official language(s): Greek, Turkish
Currency: Euro
Form of government: Presidential Republic
Member of: European Union, Eurozone, WTO
Independent since: 1960

Programs at a glance

The Cyprus CIP is the fastest and simplest route to EU citizenship and, although it has the highest capital requirement, investments are fully recoverable and the holding period is shorter than that required by comparable programs.

Inaugural year: 2002 (2016 in its current form)
Visa-free travel to: 163 countries and territories
Grants right of settlement in: Cyprus and 27 other European countries
Time to citizenship: 6 to 7 months
Investment type(s): Real estate/business investment/financial investment
Minimum investment (not including fees): EUR 2 million
Investment recoverability: The investment is fully recoverable and potentially profitable
Application-related fees: Starting at EUR 7,000 for a single applicant
Residence requirements: None

MAIN BENEFITS

Cypriot passport holders have visa-free travel to 159 countries and territories, including Schengen countries, UK, Australia and Canada as well as the right to work, study and settle permanently in all EU states. While applicants don’t need to physically reside in Cyprus, those who do enjoy very favorable terms of taxation, a low cost of living and an overall high quality of life.

Investment Requirements

To qualify for the Cyprus CIP, applicants must make one of the following investments:

 

  • A real estate investment amounting to no less than EUR 2 million.

 

  • A EUR 2 million investment in an established Cyprus-based business employing at least five Cyprus nationals.

 

  • A EUR 2 million financial investment in bonds or shares of Cyprus-based companies or organizations, or in an Alternative Investment Fund (AIF). All such financial investments require advance approval of the Cyprus Securities and Exchange Commission.

Fees

The Cyprus CIP applies a flat EUR 7,000 processing fee for each individual included in the application.

TIMELINE & REQUIREMENTS

  • All applicants must have a clean criminal record.
  • The CIPs rules further stipulate that the investor maintain a physical residence on the island worth no less than EUR 500,000, at the time of purchase, in perpetuity. In cases where applicants choose the real estate investment options, said residence may be a part of the required EUR 2 million investment. At the end of a three-year period, the investor may liquidate all real estate holdings, with the exception of a property worth EUR 500.000.
  • Parents included in the application must separately maintain a physical residence on the island valued at EUR 500,000 or collectively acquire one residential property of a total value of at least EUR 1 million.
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