Obtain A Cyprus Passport Via Investment

December 11, 2017

The investor and his/her adult family members prior to their naturalization as Cypriot citizens must hold a residence permit in Cyprus. If the applicant (either investor or family member) does not already hold a residence permit, he/she may apply for an Immigration Permit on the basis of Regulation 6 (2) of the Aliens and Immigration Law, simultaneously with the application for naturalization. In relation to the submission of an Immigration Permit application solely for the purposes of acquiring the Cypriot citizenship, in accordance with the provisions of this Scheme, there are no other conditions than those stated in the Scheme. For the issuance of the Immigration Permit the collection of the applicant’s biometric data (fingerprints and photograph) and signature is mandatory. In order for the biometric data to be collected the applicant is required to appear in person at the Civil Registry and Migration Department. Moreover the applicant needs to present an original travel document.

In all cases listed above, the applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T. However:
a) In the event where the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of €500.000, part of this additional amount can be used for the purpose of supplementing the total amount of the investment.
b) If the applicant has invested in housing unit/units on the basis of the above criterion, the purchase of another permanent residence in Cyprus will not be required, if at least one of these housing units is worth at least €500.000 plus VAT.
Note: All the documents issued by a foreign authority should be translated to either Greek or English and be duly authenticated (They should bear the stamp «APOSTILE», if they are issued by countries that have signed the Hague Convention, otherwise they should be sealed by the Ministry of Foreign Affairs of the issuing country and the diplomatic mission of the Republic of Cyprus in the issuing country).
 
BENEFITS
Citizenship is granted to the applicant & his/her dependent family members (to the spouse or partner of the investor, to the parents of the investor and to the financially dependent minor & adult children)
The timeframe for the completion of the examination procedure is approximately 3 months from the date of submission of the application.
In the event where the applicants were not already holders of permanent residency permits, the procedure for the acquisition of the Cypriot citizenship will be completed, provided that the applicants hold a residence permit for a period of at least 6 (six) months only.
There are no Greek language proficiency requirements and no obligation to reside in Cyprus
Freedom of movement and establishment within the EU
Free movement of capital, services and goods
The acquisition of Cyprus citizenship does not require the renouncement of existing citizenship, which may thereby be retained
A combination of investments is available hence, allowing the investor to spread investment risks.