Experts Unveil Cyprus Citizenship by Investment Requirements
Now that you know the best cities to live in Cyprus, you might be eager to start your application now. You cannot wait to submit your application and be granted citizenship. You couldn’t wait to get a second passport and start reaping all Cyprus has to offer. To ensure you’ll have a smooth application process and it’ll be approved, we’ve prepared this guide to help you. Check out Cyprus citizenship by investment requirements now and make sure to comply with all the documents needed!
Cyprus Citizenship by Investment Requirements
Residence Requirement
The first thing you must comply within Cyprus citizenship by investment requirements is the lock-in residency. Unlike other countries, Cyprus requires the applicant to stay in the country for at least 6 months prior to application.
There are other instances that you don’t need to physically reside in Cyprus to be eligible for citizenship. If anything, you only need to be registered as a resident for at least 6 months before applying. To be safe, though, it’s better to stay in the country for six months first.
Reputable Source of Income
Another Cyprus citizenship by investment requirements is your source of income. It’s important that you have enough funds, work, or business to prove you’re financially stable to reside in Cyprus. Submit all the necessary financial documents like bank statements, credit card statements, investment portfolios, properties, etc, to prove your finances. If not, your application might be refused.
Submit Biometric Data
It’s also important to submit biometric data to acquire citizenship. Aside from identification purposes, the biometric data will also be used to conduct criminal background checks on the applicant. So if you want to ensure your high approval rate, make sure you’ll have a clean record. Cyprus citizenship by investment requirements include:
- Investors have no criminal record or have not denied citizenship in Cyprus or any other EU country
- Not subject to any criminal investigation or persecution
- Not on EUROPOL or INTERPOL's wanted lists.
- Not associated in any companies restricted in the European Union.
Must not be Politically Affiliated
Another Cyprus Citizenship by investment requirements you should fulfill is that you shouldn’t be politically affiliated prior to application. This means you shouldn’t be holding any government position for the past five years before applying for citizenship. It includes a head of state, parliament members, government ministers, political party members, members of any court or judicial bodies, armed forces high-ranking officers, mayors, etc.
Cyprus Investment Options
Now that you know the important Cyprus citizenship by investment requirements, it’s time to determine the best investment options for you. You can avail citizenship through:
Real Estate Investment Options:
- €500,000 permanent real estate investment. This means you need to keep this investment intact for as long as you hold a Cyprus citizenship.
- Total of €2 million residential real estate investment (inclusive of €500,000 above).
- Total of €2 million commercial investment (€500,000 permanent real estate investment is not yet included).
- Invest at least €2 million in any company based in Cyprus. The company must have at least 5 Cypriot employees.
Aside from these investments, applicants must also make donations to government funds such as:
- €75,000 donation to Cyprus Land Development Corporation
- €75,000 to Research and Innovation Foundation.
Tax Benefits for a Cypriot Citizen
Cyprus citizenship by investment requirements might seem expensive, but it’s beneficial for investors in the long run. For one, it offers one of the lowest income and corporate taxes in Europe. You also won't be taxed for any dividends, interest, or royalties you earn outside of Cyprus. The government also doesn't require citizens to pay inheritance tax.
Contact our immigration experts now to start your application for Cyprus citizenship by investment program!
