European citizenship by investing in property. Cypriot Passport.

 

Starting from 19 March 2014, according to the Cyprus laws, the non-Europeans investing in the economy of Cyprus have the opportunity to obtain Cyprus (European) citizenship.

Prime Property Group’s Legal Department offers a service package to facilitate the submission of investment citizenship applications, and to make sure all of your family members receive Cyprus passports in a timely manner.

The program offers a lot of benefits: investment can be sold after 3 years, investment can be made in a lot of ways including residential property and government bonds (maximum 500 000 euro). Very important to know that Cyprus passport is not a residence permit or a visa but rather full citizenship of the EU-member state.

Main benefits of the programme

  • An express procedure - only 6 months (the fastest in Europe)

  • Investment minimum € 2 mln (+ VAT if applicable) in real estate and government bonds

  • Investor is entitled to sell its investments after 3 years, however he must hold possession of at least 500 000 Euro worth of residential property (+ VAT if applicable)

  • No requirement to reside in Cyprus either before, during or after the approval of the citizenship application

  • The citizenship obtain the whole family – husband, wife and all financially dependent children up to the age of 28

  • The applicant’s parents are also entitled to apply for Cyprus citizenship by exception provided that they own a lifetime residence of at least €500.000 (excluding VAT).

  • No history or language proficiency tests

  • All the rights of an EU citizen protected by EU legislation and regulations, are afforded: freedom to reside, work, do business, study and travel anywhere in the EU, Switzerland, Liechtenstein, Norway and Iceland

  • VISA-free travel to 157 countries worldwide, including all the European Union countries, Canada and Australia amongst others

  • Dual-citizenship permitted and the acquisition of citizenship in Cyprus is not reported to other countries

  • No double taxation in Cyprus, international tax planning tool and financial confidentiality to the Cyprus passport holders

Possible investment scheme in Cyprus:

Individual Scheme

  • The investment of €2 million plus €500.000 (excluding VAT)

  • if investment is done in residential properties, no €500 000 main residence investment is required

  • Investment in Cyprus Government Bonds has been limited to a maximum of €500.000

  • The criterion of bank deposits has been abolished

Investments have to be made in the one of the following ways:

  • Residential property

  • Commercial property

  • Government bonds (maximum 500 000 euro)

  • Financial assets of Cypriot companies

  • Participation in Cypriot businesses with main office located in Cyprus, with min 5 local employees

  • Combination of all the above

Requirements for investors

 
  • The minimum investment amount is €2 million (+ VAT if applicable)

  • Keeping investments for a period of minimum 3 years

  • Clear criminal record for all applicant (incl. all family member)

  • The investor must own a private residence in Cyprus, purchased for at least €500.000. If investments are made into residential property, this requirement is not applicable

 Goverment website