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Cypriot Citizenship by Investment

Grant of the Cypriot citizenship to non-Cypriot entrepreneurs/investors through the “Scheme for Naturalization of Investors in Cyprus by exception”.

Published on: 28 November 2016

As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus the Council of Ministers, on the 13th of September 2016, revised the "Scheme for Naturalization of non-Cypriot investors by exception" and, thus, established the new criteria and terms based on which non–Cypriot entrepreneurs/ investors may acquire the Cypriot citizenship.

In the below document “Scheme for Naturalisation of Investors in Cyprus” produced by Cyprus’ Ministry of Interior, you can find the "Scheme for Naturalization of non-Cypriot investors by exception" with information on criteria, terms and conditions, how to apply and submission of requested documents and the processing of the application for both the investor and his or her family members.

Contact Investment-Gateway, to speak to a professional for more information and assistance with the investment and application process.

Background Information

One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.

Within this framework and taking into account the strong investor interest, the Government of Cyprus has established and revised a "Scheme for Naturalization of non-Cypriot investors by exception" on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2015, with specific incentives, terms and conditions and control procedures in order to prevent abuse.

On the basis of the Scheme, a non-Cypriot citizen, who meets one of the following economic criteria (A), either personally or through a company/ companies in which he/ she participates as a shareholder – in proportion to his holding percentage, or through investments done by his/her spouse or jointly with the spouse or even as a high-ranking senior manager of a company/ companies that meets one of the economic criteria (A), may apply for the acquisition of the Cypriot citizenship through naturalization by exception.

A high-ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenues of at least €100,000 over a three year period and provided that this tax has already been paid or prepaid.

The applicant should have made the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least three years as from the date of the naturalization.

In addition, the applicant must fulfill the Terms and Conditions, as set out in the below document Part B.

In the case where, following a periodic inspection, it has been established that a criterion, term or condition of the Scheme has been breached, the granted naturalization may be revoked.

Associated Documents & Reading Material

Scheme for Naturalisation of Investors in Cyprus 2016.pdf

Source: Investment Gateway

 

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