Cyprus Investment Programme
One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country. Within this framework and taking into account the strong investor interest, the Government of Cyprus has established and revised the “Cyprus Investment Programme” on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2017, with specific incentives, terms and conditions and control procedures in order to prevent abuse. On the basis of the Programme, a non-Cypriot citizen, who meets specific economic criteria may apply for the acquisition of the Cyprus citizenship through naturalization by exception. Before he can obtain the Cyprus Passport, he must hold a valid Residence Permit of the Republic of Cyprus for a minimum period of six months.
Registry of Service Providers of the Cyprus Investment Programme
As of July 31 2018, any applications for the Cyprus Investment Programme may be submitted on behalf of the applicants only by natural / legal persons registered with the Registry of Service Providers (Registry) of the Cyprus Investment Programme.
A Self-Declaration by the Service Provider for the purposes of the Cyprus Investment Programme” duly completed and signed, is a pre-requisite on the List of Documents to be submitted with an application for Cyprus Citizenship by Naturalisation.
Andreas Demetriades & Co LLC is a registered Service Provider, keeping in line with the high standards set up by the Republic of Cyprus.
Key provisions of the Cyprus Investment Programme
- 6 months expected time frame of examination of applications
- The total financial investment can be as low as €2 million;
- Donation of €75,000.00 to the Research and Innovation Foundation and €75,000.00 the Cyprus Land Development Corporation
- The investor should only retain the investment for just 5 years after which he is only obliged to maintain in his ownership a residential property of a purchase price of €500,000.00 (plus VAT if any)
- The investor is able to rent out his privately owned residence
- The applicant must, prior to his naturalization process, possess a residency permit of the Republic of Cyprus for a period of 6 months
- Multiple citizenship permitted
- No language proficiency tests
- The whole family can obtain the Citizenship including the spouse of the investor and minor children as well financially dependent adult children up to the age of 28, who are attending an institution of higher education aiming to obtain a diploma or an undergraduate or a master’s degree
- The parents to the Investor may also obtain Citizenship provided they hold a private residence of a purchase price of at least €500,000
- Citizenship transferable to all descendants
- Low Government fees for the filing of the Citizenship Application under the Cyprus Investment Programme
- VISA – free Travel to over 172 countries worldwide
At Andreas Demetriades & Co LLC we specialise in immigration to Cyprus either via the Residency Programs or via obtaining Cyprus Citizenship and offer a complete service. We have a wealth of experience in both immigration and investment law and have been privileged in assisting numerous non-Cypriots in achieving their objectives. Our trademark expertise, knowledge and resources allow us to offer personalised legal support.
Our know-how makes it easy
To make gaining Cyprus Residency and Citizenship stress-free and easy, we provide step-by-step guidance. This leads you through the whole process and helps you to avoid time wasting errors in your application.
Simply let us know what you would like help with and trust the experts to ensure that it all happens smoothly and quickly.
- Cyprus Citizenship through the Cyprus Investment Programme
- Cyprus Citizenship by Years of Residency
- Permanent Residence Permit in Cyprus
- Temporary Residence Permits in Cyprus
- Work Permits in Cyprus