The Cyprus Citizenship by Investment Programme is the quickest and most secure path to obtaining a European passport via real estate investment. It is rapid and assured, and it is open to investors with enough finances to invest €2.0 million in real estate, plus payment of €75,000 to the Government’s Research and Development fund and €75,000 to the Land Development Organization. No other European golden visa scheme provides such certain outcomes, providing an EU second passport in as little as two to three months.
Cyprus provides two sorts of Golden Visas, one leading to citizenship and the other to permanent residency. The distinction is due to the amount of investment needed. To get Cyprus citizenship by investment, the candidate must buy real estate worth at least €2 million. The investment needed for permanent residency is lower, at €300,000.
The Cyprus Golden Visa programme offers the fastest path to citizenship of any European country, allowing you to become a Cypriot citizen (and hence an EU citizen) in as little as six months.
- Cyprus Citizenship by Investment Requirements
To gain Cyprus citizenship by investment, you ought to:
- Purchase at least €2 million in real estate (excluding VAT). It might be a single property or a group of properties totalling up to €2 million.
- You must invest an extra €500,000 in your house purchase if you wish to include your parents or your spouse’s parents.
- Donate $100,000 to the Cypriot Government Research and Development Fund and $100,000 to the Cypriot Land Development Organization. The whole investment must be €2.2 million.
- Have no criminal history.
- Before applying for the Golden Visa, make a financial commitment.
- Transfer funds from abroad for investing.
- Have all of the relevant papers for the application (i.e. property purchase documents, proof of available and legal funds, police records, etc.)
There are no requirements to reside in Cyprus prior to applying for citizenship, and no language competency exam is required. If you meet the requirements, you will be a citizen of Cyprus in six months.
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The Benefits of Investing in Cyprus Citizenship
If you get Cyprus citizenship by investment, you and your family members will have the same rights as all Cypriot citizens. This includes the following:
- You are free to live, work, and study anywhere in the European Union.
- You are not required to take a language test or attend an interview.
- You do not need to live in Cyprus before applying for citizenship, but you must obtain a residency permit for at least six months before the application is completed.
- Your spouse and minor children under the age of 18 will also be granted citizenship, which can be passed down to future generations.
- You can even add adult children who are still students and so reliant on you on the application. They must be under the age of 28 and unmarried.
- If you contribute another €500,000, you can include your parents and your spouse’s parents.
- You may rent out your newly acquired homes.
- After five years, you can cut your investment to €500,000, which must be kept for the rest of your life. This implies you’ll be able to sell your first homes.
- You can pay through a firm or foundation with whom you have a relationship.
- Dual citizenship is permitted.
– The Application Process
Following the completion of your investment, you must apply for Cyprus citizenship at the Ministry of Interior. You have the option of applying yourself or hiring a legal representation. The following is an explanation of the application procedure for Cyprus citizenship by investment:
- A standard entrance visa is required to enter the country.
- Submit your application to the Cypriot Ministry of Interior, which will collaborate with the Ministry of Finance to resolve your case.
- Your application will be sent to the Council of Ministers for approval.
- You will be issued a six-month residency permit, allowing you to stay in Cyprus or travel in and out of the country while your application is processed.
- You will receive the Naturalization Certificate once your application has been approved.
- Then, at a local office where you are situated, you may apply for a Cypriot passport and an ID card.
If you are bringing family members, all of your applications must be filed at the same time.
Furthermore, before you may become a complete Cypriot citizen, you must attend a ceremony before a Registrar of a Cypriot Court.
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Investment Requirements for Cyprus Residency
Another Golden Visa option for Cyprus is to invest in real estate in exchange for permanent residency. The investment requirements for obtaining a Permanent Resident Card are substantially lower:
- You must acquire at least €300,000 in real estate.
- You must deposit €30,000 into a Cyprus bank. The funds will be held for a period of three years.
- You must demonstrate that you have an annual income of at least €30,000 for yourself and an additional €5,000 for each dependant (spouse and children).
- You must have an additional €8,000 in income if you include your parents or your spouse’s parents.
- You must not have any criminal records.
The Benefits of Investing in a Cyprus Residency
The following are some of the advantages of obtaining Cyprus residency by investment:
- You and your family will be able to travel to other European Union nations.
- You may also include family members (spouse and minor children) on the application. Provided you have adult children (up to the age of 25), you can put them on the application as well if they are financially reliant on you (i.e. they are still students).
- You may include either your own or your spouse’s parents.
- The Permanent Resident Card is valid indefinitely.
- You do not need to live in Cyprus in order to keep your Residence Permit. You may only visit once every two years.
- The permanent residency will also result in the issuance of a Cyprus passport, but only after seven years of continuous residence.
- Unlike with citizenship, you and your family members are not permitted to work in Cyprus. Your revenue must originate from outside the country.
The Application Procedure
To apply for permanent residency in Cyprus under the Golden Visa programme, you must first enter the country on an entrance visa and then submit your application to Cypriot immigration officials. The following is a basic description of the application process:
You can enter Cyprus with an ordinary entrance visa, which you can obtain through the Cypriot Embassy in your home country.
Complete your investment and apply for permanent residency at the Civil Registry and Migration Department (CRMD). You can apply on your own or through legal counsel. You must have all of the necessary documentation.
Your application will be delivered to the Ministry of Interior of Cyprus.
The application procedure takes around two months.
If the judgement is favourable, you will be sent a letter of approval.
You and your family members must join Cyprus within one year after approval and go to the Civil Registry and Migration Department to submit your biometric information and get your Permanent Residence Cards.
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Documents Required for a Golden Visa to Cyprus
The papers needed to apply for a Cyprus Golden Visa are determined on the sort of investment you make as well as other variables such as your nationality. In general, you will require the following items:
- Proof of investment – property purchase, donation, etc.
- Evidence of the monies’ availability, ownership, and transfer.
- Your curriculum vitae, which details your professional and academic credentials
- Birth and marriage certificates are examples of civil papers.
- Passport-size photographs
- Police record demonstrating that you have no prior criminal history.
- When applying for dependent adult children, provide proof that they are enrolled in school.
Guidelines for Documentation:
All documentation you submit must be in English or Greek. If they are not, a qualified translator or consular official must translate them into English.
All papers submitted must be legalised. An Apostille Stamp is necessary if your country of origin is a signatory to the Apostille Convention. If your nation is not a signatory to the Apostille Convention, your documents must be legalised by the Ministry of Foreign Affairs of your country, the Cypriot Ministry of Foreign Affairs, and the Cyprus Embassy in your country.