Citizenship for non- CY nationals

The Cyrus Government has established a number of incentives to attract foreign direct investment. One of these is a citizenship-by-investment program that grants full Cypriot citizenship to those that invest more than EUR 2 million in real estate and who meet certain other requirements.

Cyprus remains an attractive European destination for both business and recreation. The high quality of life and services and tax regime are a few of the many reasons why people come and invest to Cyprus.

Any non-Cypriot citizen may apply for such citizenship through Naturalization by Exception if they meet one of the investment criteria presented below. The qualification may either be done personally or through a company/companies in which the applicant acts as a shareholder or even as a senior manager.

The applicant must satisfy one of the following criteria:

1. Investment in real estate, developments and infrastructure projects

The applicant should make an investment of at least EUR 2 million for the purchase or construction of real estate.

2. Purchase, establishment, or participation in Cypriot businesses and companies

The applicant must make an investment of at least EUR 2 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot citizens.

3. Investment in Alternative Investment Funds or financial assets of Cypriot enterprises or Cypriot organizations licensed by the Securities and Exchange Commission

The applicant should purchase units amounting to at least EUR 2 million from Alternative Investment Funds (AIF).

This criterion also covers the purchase of financial assets of Cypriot businesses or organizations for at least EUR 2 million, in the form of bonds, securities and debt securities.

4. Combination of the above investments

The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million.

The applicant’s investment combination may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000.

Benefits:

• Not essential to become a tax resident.
• Not compulsory to stay in Cyprus.
• No language test required.
• Dual Nationality allowed.
• Spouse and dependents are also entitled to receive a passport - no requirement to surrender the existing nationality.
• No Capital Gains Tax payable on death of main passport holder of personal residence – would pass to dependant.
• Protection as a Cypriot Citizen – No Extradition.
• Valid throughout entire European Union.