Cyprus Investment Programme

The Cyprus Investment Programme (CIP) enables investors and their family members to obtain Cypriot citizenship by means of investment. Industry experts consider the CIP as one of the most appealing such programmes, due to its swift processing period and its investment / donation basis.

A Cyprus passport holder can travel visa-free to more than 170 countries and freely travel to, live and work in any EU-member state. Applicants who become Cyprus tax residents, can also benefit from the local tax regime that favorably compares with other EU member countries.

Investment Criteria

Applicants must make a cumulative investment of at least €2.5 million. This investment minimum is reduced to €2 million if solely invested in residential properties. The Elit Blue team is ready to assist you in finding the residential property that meets your needs.

Eligible investment types are (combinations permitted):

  • Investment in Real estate, land development and infrastructure projects
  • Purchase or Establishment or Participation in Cypriot companies or businesses
  • Investment in Alternative Investment Funds (AIFs), or Registered Alternative Investment Funds (RAIFs), or Financial assets of Cypriot companies / organisations, that are licensed by the Cyprus Securities and Exchange Commission

Additionally, applicants must donate a total of €150,000; €75,000 to the Research Promotion Foundation and €75,000 to the Cyprus Land Development Corporation.

Eligibility Criteria

  • Clean criminal record and background
    Applicants must have a clean criminal record from the county of origin and the country of residence and a clean due diligence report on adult applicants must be submitted. An applicant is ineligible if previously rejected by another EU member state for citizenship by investment.
  • Residence in the Republic of Cyprus
    Applicants must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which was at least €500.000 (excl. VAT)
  • Residence permit
    Adult applicants must hold a Residence Permit in Cyprus for at least 6 months prior to acquiring the Cyprus Citizenship
  • Schengen visa
    Applicants must be a holder of a valid Schengen visa 
  • Funds from abroad
    Foreign direct investment is required

Main Programme Benefits

  • Straightforward and fast application procedure (typically 6 months minimum)
  • Main applicant and his/her spouse apply jointly. Upon approval, children and main applicants’ parents may also apply
  • No restrictions on applicant nationality
  • Dual citizenship permitted
  • The investor does not automatically become a Cyprus tax resident
  • No requirement to reside in Cyprus; neither before nor after citizenship is granted
  • No language proficiency tests
  • Investment disposal possible after five years

Other Key Terms

  • The investor must retain investments for at least five years
  • A permanent residence with a minimum value of €500,000 must be kept for life
  • The investor’s parents are entitled to apply for citizenship provided they, too, are owners of a permanent residence with a minimum market value of €500.000. Joint ownership of a residential property worth at least €1 million is permitted
  • Real estate property purchased up to three years prior to the submission of the citizenship application may count towards the required investment
  • Investment in a real estate asset under development possible, under certain conditions (incl. existence of a planning permit, submission of a bank waiver)

Process Overview

  1. Real estate investment selection
  2. Preparation of citizenship (and residency) application
  3. Submission of citizenship application to Ministry of Interior
  4. Citizenship application approval
  5. Issuance of Cypriot citizenship and passport

The minimum estimated time to complete the process is six months

How Can We Assist

Our team will support you in obtaining a Cypriot citizenship in a time efficient manner by:

  • Finding for you the right property that matches your requirements
  • Supporting and assisting you during the application procedure e.g. regarding the progamme’s financial criteria, eligibility criteria, terms and conditions
  • Assisting you with the opening of bank accounts at local banks
  • No restrictions on any nationalities or countries who can apply
  • Recommending trustworthy and reputable legal and other specialized advisors

Find the right property

Our team will help you find the property that meets your needs.

TALK TO AN EXPERT

Elit Blue is a licensed real estate agent.

(+357) 7777 8688

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