About the Cyprus Citizenship for Foreign Investors Program

Your access to Europe – Cyprus passport

Legal Basis

On the basis of a Council of Ministers’ Decision (dated 19/03/2014), non Cypriot Investors, can acquire the Cyprus Citizenship by Naturalization (by exception on the basis of the Civil Registry Laws 2002-2013).

Key Benefits

  • Free Movement of People
    • Freely travel and reside (and work) within the EU
  • All family members can obtain Cyprus citizenship
    • i.e Spouse of applicant, children aged under 18 years, and adult dependent children (aged over 18 years and up to 28 years)
  • Free Movement of Capital
    • Transfer any amount of money from any EU Member State to another, purchase of property in any EU Member State of choice and invest in any activities of choice
  • Free Movement of Services
    • Establishment and free movement of services – individual citizens and companies can offer services without hindrance in all EU Member States
  • Free Movement of Goods
    • All goods produced in EU Member States can be transferred freely from any Member State to another

Financial Criteria and other required conditions

The following economic criteria must be met:

  • At least €5 mln investment in:
    • Government Bonds or
    • Financial Assets of Cyprus companies/organisations or
    • Real Estate, Land Development and Infrastructure Projects or
    • Purchase or creation or participation in Cyprus business/companies with a Head Office and business activities in Cyprus or
  • Deposits in Banks operating in Cyprus of €5 mln or
  • Combination of the above criteria amounting to €5 mln or
  • Impaired Deposits in the Popular Bank of at least €3 mlm. In case of impaired deposits of less than €3 mln, the applicant can apply after making additional investments or
  • Large Collective Investments – Investment reduced to:
    • €2.5 mln per investor for investments of at least €12.5 mlm

In addition to the criteria mentioned above, the applicant must fulfill the following Terms and Conditions:

  • Clear Criminal Record. Not to be included in the list of persons whose property is ordered to be frozen within the EU
  • Privately owned residence in the Republic of Cyprus, the cost of which must exceed the amount of €500.000 excluding VAT
  • A high-ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenue of at least €100.000 for a three year period and provided that this tax has already been paid or prepaid.
  • In case an investor purchases solely a residence of minimum €5 mln, or €2.5 mlm (under the relevant criteria) he/she is not obliged to buy an additional residence of €500.000.

Key information to have in mind

  • Applicant does not become a tax resident in Cyprus, unless he/she spends more than 183 days in any one calendar year
  • The approval of Citizenship under the relevant Decision is granted by the Cyprus Council of Ministers
  • The application package is submitted to the Ministry of Interior. The Ministry of Finance assesses the economic criteria
  • Main applicant and his/her spouse apply concurrently. Upon approval, children’s applications follow
  • After examination by the two Ministries, the application is presented to the Council of Ministers
  • The application processing usually takes 3-6 months
  • The Council of Ministers has complete discretionary power regarding these decisions