CYPRUS


CYPRUS RESIDENCY / CITIZENSHIP BY INVESTMENT

Security. Opportunity. Peace of mind.

European residency or citizenship for investors and their families. Live and work in the EU.

Cyprus is offering foreign investors investment programs that can lead to permanent residency and citizenship in order to stimulate the country's economy through job creation and capital.


The Cypriot immigration policy and legal framework now enable non-EU applicants to obtain Cypriot citizenship on an expedited basis, with approvals granted as fast as 3 - 6 months.


Applicants are not required to continuously live in Cyprus before or after citizenship approval.


There are no requirements to disclose the applicant's source of wealth or funds, there is no medical testing, and there are no language requirements.


International business executives, investors, and important persons who are active worldwide consider an alternative citizenship and passport a powerful tool for international tax planning and a safety net should the living conditions at home become unbearable. The applicant and his family receive full citizenship and passports.


The Cyprus passport is similar to the passports of Germany, France, or any other EU country.


LIVE, WORK OR STUDY IN ANY OF THE EU COUNTRIES

The immigration by investment programs of Cyprus provide for affluent persons of impeccable standing and repute, including their families, to receive citizenship on the basis of an investment in Cyprus. Once citizenship is granted, the applicant may live, work or study in any of the member countries of the European Union.


VISA FREE TRAVEL TO OVER 160 COUNTRIES, INCLUDING THE USA

Cyprus citizenship (EU citizenship) offers full European Union benefits, including Schengen borderless travel and a United States visa waiver. This means visa-free travel to more than 160 countries in the world, including the USA, Canada, Middle East, Africa, Asia, and most countries in North, Central and South America.


A BETTER QUALITY OF LIFE FOR THE FAMILY

Cyprus is a safe country that enjoys a low cost of living index. The country has long been a vacation spot for Europeans and high net worth individuals who flock to the island for its sunny and warm climate year-round. Cyprus offers a modern infrastructure ranging from reliable phone and internet service to secure banking to well-established air and sea routes connecting the island to the European mainland and international destinations.


Permanent residency can be obtained through an investment in real estate with minimum market value of EUR 300,000.

Cyprus citizenship, i.e. the European passport, is available to qualified investors at a minimum investment of EUR 2,0 million.


Please contact us for a detailed cost estimate or confidential consultation. Our associated attorneys are ready to assist you with attaining your investment objectives and answer any questions you might have about the Cyprus Residency / Citizenship by Investment programs.



CYPRUS RESIDENCY / CITIZENSHIP BY INVESTMENT

Program Information

The government of Cyprus is offering Cypriot citizenship (European citizenship) and passports to international investors who contribute to the country's economic development.

Cyprus has been a full member of the European Union since 2004. The island is located in the north eastern Mediterranean Sea, at the crossroads of Europe, Asia and Africa. The strategic location of the island has played an important role in its development as a financial center


The Cyprus permanent residency program allow applicants to live in Cyprus indefinitely and lifts traveling restrictions and elaborate visa requirements across the EU.

The Cyprus Citizenship by Investment Program (CBI) offers affluent persons of impeccable standing to receive the Cypriot (EU) citizenship and passport on the basis of an investment in Cyprus. EU citizenship grants the permission to live, work or study in any country of the European Union.


Qualified candidates include international business executives, investors, public figures, VIPs, and important persons - many of which are are active worldwide - who meet the minimum application requirements

There are no requirements to disclose the applicant's source of wealth or funds, there is no medical testing, and there are no language requirements.


Applicants consider an alternative citizenship and passport a powerful tool for international tax planning and as a safety net should the living conditions at home become undesirable.

The following provides a summary of the investment requirements. Please use our contact form to obtain a complete checklist of application documents which depends on the number of family members to be included.


Application Requirements / Eligibility for Cyprus Residency

To meet the residency program requirements an applicant must maintain a three year fixed deposit account with a Cyprus bank for an amount at least EUR 30,000. The funds deposited must emanate from sources outside Cyprus. Further, the applicant must provide evidence of secured annual income of at least EUR 30,000, originating from abroad.


Residency Investment Options

The minimum investment amount under the residency program is EUR 300,000 for a "first-time" sale residential property in Cyprus. The applicants' presence at the time of purchase is not mandatory and can be facilitated by legal representatives.


Application Requirements / Eligibility for Cyprus Citizenship

To qualify under the regulations, a main applicant for citizenship must be at least 18 years of age and have a clean criminal record.

There are no requirements to disclose the applicant's source of wealth or funds, there is no medical testing, and there are no language requirements.

The main applicant may also add dependents to a citizenship application including his/her spouse, children, and parents to benefit under the Cyprus Citizenship by Investment program.

Citizenship Investment Options

The Citizenship by Investment program of Cyprus provides a method of obtaining citizenship for foreign nationals, with approvals issued in as little as 3 - 6 months.

To qualify for citizenship, the primary applicant may select one of two investment options:


Option #1: Residential Real Estate Investment

This option requires a minimum total investment amount of EUR 2,0 million in residential real estate.

The total investment amount must include a permanent personal residence valued at no less than EUR 500,000. The remaining investment amount of EUR 1.5 million must be made in residential real estate, to be held for a minimum of three years. If the personal residence is valued at EUR 2,0 million or more, then no additional investment is required.

Option #2: Other Investments

This option requires a minimum total investment of EUR 2,5 million.

Part of the investment must be a personal residence purchased for at least EUR 500,000.

The remaining investment amount of EUR 2,0 million can be made using a mix of the following, held for at least three years:

a) Eligible Real Estate, such as residential, commercial, infrastructure or developed land, or

b) Interest-bearing Cyprus Government Bonds (up to a maximum value of EUR 500,000), or

c) Alternative Investment Fund (AIF) or financial assets of a Cyprus entity licensed by the Cyprus Securities and Exchange Commission, or

d) Company formation or acquisition or participation where the applicant is a majority shareholder, with activities in Cyprus, and employing 5 Cypriot or EU nationals who have been residing in Cyprus for over five years, or

e) a combination of any of the above.

Citizenship Application Timeline & Payments

Step 1 - Review and Select Qualifying Investment. Please use our contact form to receive a complete checklist of application documents and cost estimate for you and your family. If you apply for more than one family ask us about a group discount. There is no fee for this initial consultation. Our team can advise you on unique/specific searches or present investment options taking into account your investment preferences.

Step 2 - Prepare Citizenship Application. Collection of documents such as birth certificates,
marriage and divorce certificates, as well as police clearance that must be submitted with the application.

Step 3 - Receive Pre-Approval from Government Ministries. Obtaining pre-approvals to ensure full compliance and documentation before filing the formal application and before making an investment.

Step 4 - Submit Citizenship Application to Government. Finalizing the investment and submitting completed all application forms, including the fully executed contract of sales, escrow agreements and supporting documents.

Step 5 - Receive Cypriot Citizenship Certificate / Passport. After application approval this step entails traveling to Cyprus, taking an oath and providing signatures to finalize the process. The Cypriot Citizenship Certificate will be provided to you, and the EU passport can be issued in two hours.

The application process is expected to take about six months. Government filing fees and attorney fees are in addition to the investment minimums.

Please use our contact form to obtain a complete checklist of application documents which depends on the number of family members to be included. If you are planning to apply for more than one family ask us about a group discount.

Why Cyprus?

With its warm and stable climate and convenient geographical position Cyprus is considered an attractive place for residence. At least 320 days of sunshine a year classify the island as one of the sunniest European locations.

Cyprus has recently been designated the 5th best relocation destination in the world by a report published by Knight Frank, a leading independent, global real estate consultancy firm. Ranked by key business and leisure indicators, Cyprus was the only European country alongside Switzerland to make it into the top five - ahead of London, Madrid and Monaco.

In addition to pleasant weather, the investment landscape in Cyprus is beneficial due to the island's well-qualified labor force, attractive taxation and a reliable transport and telecommunications system. Cyprus ranks highly because of its favorable tax regime for new residents, particularly high net worth individuals. Recent studies conducted by global immigration experts deemed the Cyprus Citizenship by Investment program among the "best in the world".

Cyprus has a modern, free-market, service-based economy, with an effective and transparent regulatory and legal framework, giving international investors and businesses confidence to invest, grow and prosper.

Advantages of Cyprus Residency

Living in Cyprus

The Permanent Residency Permit grants a Non-EU national the right to permanently reside in Cyprus with no renewal requirements. Once granted, the Permanent Residency Permit covers the whole family: the main applicant and spouse, their parents and dependents up to the age of 24.

Visa Free Travel

Permanent residency lifts traveling restrictions and elaborate visa requirements across the EU, facilitating access to the Schengen zone. Visa-free travel covers a growing list of countries, including Germany, France, Italy, Luxembourg and the Netherlands. For other countries, a simplified visa is available to permanent residency holders. (Note: Cyprus citizenship allows visa-free travel across all 26 "Schengen Area" countries.)

Fast Track Application Processing

Fast track application procedure - all applications are reviewed by the Civil Registry and Migration Department and the Ministry of Interior grants final approval within 3 - 6 months from the date of filing. The application can be processed in the applicant's absence and filed on their behalf.

Favorable Tax Structure

Becoming a citizen of Cyprus does not have any tax implications unless you reside in the country for over 183 days during the year. A Cyprus tax resident is exempt from tax on worldwide dividends and interest income for a period of 17 years. In addition to this, a Cyprus tax resident is exempt from tax on gains on disposable of securities. This is recognized as the most attractive personal income tax regimes in the onshore tax world.

Advantages of Cyprus Citizenship

No Donations

Unlike other citizenship by investment programs, the Cyprus option does not require any donations, i.e. non-refundable contributions to the government. Instead, the program is purely investment-based, which means you retain full ownership of the investment.

No Requirement to Physically Reside in Malta

The applicant and his/her dependents are not required to reside in Cyprus before the filing of an application, or after obtaining Cypriot Citizenship. There is no residency requirement, whatsoever.

Free Movement of Persons

Freely travel, reside, study and work within the 28 countries of the EU, as well as Switzerland, Norway, Iceland and Liechtenstein.

The whole family can obtain Cyprus Citizenship i.e. the main applicant, his/her spouse, children under 18 years, and adult children (ages 18 to 25) who are students. All can travel, reside, study and work freely within the EU.

Parents may be included in the citizenship application provided they own a separate residence with a minimum acquisition cost of EUR 500,000.

Free Movement of Services

Individual citizens and their companies can offer services within EU member states without obstacles. 

Free Movement of Capital

Cypriot passport holders can transfer funds between EU member states, purchase property in any preferred EU country, and invest in any type of business venture.

Free Movement of Goods

All goods produced in EU member states can be freely transferred between countries of the European Union.

Attractive Tax System

Cyprus is an attractive financial center due to its highly favorable tax system and strategic location at the crossroads of three continents - Europe, Africa and Asia. Becoming a citizen of Cyprus does not have any tax implications unless the applicant moves to the country.

High Standard of Living

Cyprus presents a high standard of living due to its access to reputable private schools, trustworthy private medical facilities and having among the lowest crime rates within Europe.

Visa Free Travel

Cypriot passport holders do not require a visa to travel within the EU and also to travel to over 159 non-EU countries.


Please contact us for a detailed cost estimate or confidential consultation. Our associated attorneys are ready to assist you with attaining your investment objectives and answer any questions you might have about the Cyprus Residency / Citizenship by Investment programs.


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CONTACT FORM



Migratas Holdings Ltd.


Spyrou Kyprianou, 84
4004, Limassol, Cyprus
Phone: +357 25 7310 35
Service Enquiries: service@migratas.com
General Counsel: legal@migratas.com
Company Registration No.: HE380748