In its continued attempted to attract foreign investors the Government of Cyprus has created a number of incentives. One of these is the citizenship-by-investment program which not only grants Cypriot citizenship but will give successful applicants the right to work, live and study in all 28 EU member countries.
The main requirement of this is to invest 2 million Euros in real estate (which was recently reduced from 2.5 million euro). A further change made in September 2016 was the possibility to include parents of the main applicant. This is done by further investing 500,000 Euros in real estate.
Key requirements for investment:
- Investment in real estate, developments and infrastructure projects – applicants are required to invest at least 2 million euro in these projects
- Acquisition, creation, or investing in Cypriot companies – applicants must purchase, invest or created a business that operates in the republic at a value of 2 million euro
- Investment in funds, financial assets of Cypriot enterprise – applicants must invest 2 million euro in financial assets of a Cypriot company in the form of bonds, securities or debt securities.
- Investment in Government Bonds – in combination with above the applicant can invest in a special government bond of a value of 500,000 euro
- Another important requirement that applies is the purchase and life-time possession of a property in Cyprus that will be declared as the applicant’s residence in Cyprus. The purchase price of the particular property should be at least EUR 500,000 plus VAT. If the above investment includes the real estate option, this property can be included in the EUR 2 million investment.
Healys Immigration team will be on hand to manage the application process. The team will be able to find suitable investment opportunities, evaluate those investments and deal with all the transactions needed to get you through the application process.
We have strategic relationships with Lawyers, accountants, tax advisers, fiduciaries, commercial and residential real estate agents, relocation agents and recruitment specialists in the Cyprus, Europe and around the world. This unique position puts a team of experts at the disposal of our clients offering a ‘one stop shop’ service to solve any issues they may have.