Citizenship by Investment Program (CIP)

Advantages

• A European Union (EU) member country
• The applicant can live, travel, work and study anywhere in the
EU
• Spouse, and any dependent children up to 28 years old in full time university education can be included
• Dependent parents can be included
• Safe living environment, a beautiful location with a high standard of living
• Dual citizenship is allowed
• Allows visa-free to travel to more than 170 countries, including the EU, Canada, Hong Kong, Singapore, New Zealand
• Reasonable cost of living
• Skilled, educated, and multilingual society
• Free access to high quality public education and healthcare system

Requirements

• No language, education or upper age requirements
• The applicant must prove a clean criminal record
• Must be at least 18 years old
• The main applicant and adult family members must hold a valid Schengen visa*
• The applicant must invest at least €2 million in Cyprus
• The applicant must purchase and retain a residential property in Cyprus with a value of at least €500,000, to be treated as a permanent residence in order to maintain citizenship
*Effective May 15, 2019

Investment Options

• An investment of at least €2 million in a single residential property used as a permanent residence; or
• Where the residential units have been previously used for CIP, the minimum investment amount increases to €2.5 million*
• An investment of at least €2 million in multiple residential properties, including at least one property with a minimum value of €500,000 as a permanent residence; or
• An investment of at least €2 million in commercial or mixed properties, plus at least one property with a minimum value of €500,000 as a permanent residence; and
• A donation of €75,000 to the Research and Innovation Foundation and €75,000 to the Cyprus Land Development

Corporation*

• Dependent parents must also hold one property with a minimum value of €500,000 as a permanent residence, or hold a share of a permanent residence with a minimum value of €500,000
• The investment properties may be rented out to provide an income for the investor

Process

• The main applicant and dependents must visit Cyprus at least once in order to take an oath to obtain citizenship
• Once the applicant has obtained citizenship, the dependent relatives (spouse, children up to 28 years old and dependent parents) can apply for citizenship
• To maintain citizenship, the applicant must;
• keep the investment properties for a minimum period of 5 years*
• always retain a permanent residence with a minimum value of €500,000 (+VAT)
• The investment properties may be sold after 5 years*