Investment program

                                                                                                                                       


   INVESTOR IMMIGRATION

   

1. NATURALIZATION OF INVESTORS BY EXCEPTION

2. PERMANENT RESIDENCY BY INVESTMENT                                            

OUR PARTNER FIRM       

S.ZACKHEOS & ASSOCIATES LTD          

                                                                                            

S.Zackheos & Associates Ltd specialises in immigration services for non-EU citizens to Cyprus. We maintain excellent working relationships with government authorities and local institutions to facilitate both Citizenship and Permanent Residency processes.

With over 12 years experience in the field, we maintain a near 100% success rate on Investor applications.

S.Zackheos & Associates is an Approved Service Provider for The Cyprus Investment Programme (CIP) by the Committee of Supervision and Control, under registration number 227.

H.E. Ambassador Sotos Zackheos, Former Permanent Secretary of the Foreign Ministry, the Republic of Cyprus

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H.E. Ambassador Sotos Zackheos is the Special Envoy (pro bono) of the President of Cyprus
on Russia and Advisor to the President for the attraction of Foreign Investments and Service Sectors by the Republic of India (pro bono). He is a Board Member of RCB Bank (Cyprus), as well as a consultant of large Cypriot and foreign companies. He is also amongst other Vice President of the Cyprus-GCC Countries Business Association and Co Vice President of the Cyprus-Qatar Business Association.

Mr Zackheos had a distinguished diplomatic career in the Foreign Service, serving in Moscow, Ambassador to China, as well as Permanent Representative to the U.N. in Geneva and New York. From June 2003 until his early voluntary retirement in 2007, he served as Permanent Secretary of the Foreign Ministry.


1. NATURALISATION OF INVESTORS BY EXCEPTION

On the basis of the Cyprus Investment Program, non-Cypriot citizens may apply for Cypriot citizenship.

    BENEFITS

  •  Freedom to travel, reside and work within the European Union (EU).

  •  Eligibility for the whole family:
               1.Spouse, as well as children up to 18 years old, and financially dependent children up to 25 years old.
             2.Parents of the Investor.

  • Citizenship is transferable to descendants.

  • No requirement to physically reside in Cyprus before or after obtaining Citizenship.

  • Quick application processing time of approximately 6 months.

 

   CRITERIA

1.        Investment into any of the below (investment should be maintained for 5 years following citizenship).

a)       Residential real estate - at least €1,500,000 + VAT

b)       Commercial real estate - at least €2,000,000 + VAT

c)       Cyprus-based businesses or Financial assets (units in AIFs, bonds, other securities, etc) in companies regulated by the Cyprus Securities and Exchange Commission - at least €2,000,000

2.       Purchase of Main Residential Property of at least €500,000 + VAT (if applicable), which should be maintained following the 5 years.

3.        If the Parents of the Investor shall apply, additional Main Residential Property of at least €500,000 + VAT.

4.       Copy of valid Schengen visa.

5.        Clean Criminal Record.

6.       An applicant who has applied under a similar program for citizenship in any other EU Member State and has been rejected will not be eligible.

 

APPLICATION TIMELINE

1. Secure Eligibility Criteria
 •Identify and secure investments 
2. Preparation of Application and Submission to Ministry of Interior ( 1 week )
 • Collection of Applicants documentation
 • Collection of Investment documentation
3. Visit to Cyprus and Receipt of Permanent Residency Permit  ( 1 month )
 • Visit to Cyprus to provide Biometrics for Permanent Residency Permit
4. Completion of Assessment ( 6 months from submission )
 • Receipt of confirmation from the Council of Ministers and Certificate of Citizenship
5. Visit to Cyprus and Issuance of Passport  • Same day receipt of passport.
 • ID sent within 1 week.
 • Apply for dependents, if applicable (2 months for completion) 

   

2. PERMANENT RESIDENCY BY INVESTMENT

Permanent residency may be obtained by non-EU nationals who invest in Cyprus and who do not intend to be employed in Cyprus.

   BENEFITS

  • Holders are exempted from having to obtain a Visitor’s Visa when entering the country.

  • Travel with less restrictions in the EU, facilitating access to Schengen.

  • Eligibility for the whole family:
          1.Spouse, as well as children up to 18 years old, and financially dependent children up to 25 years old.
          2.Children over 18, who are not financially dependent on the applicant, can receive the permit provided

that the market value of the acquired property attributed to each child is at least €300.000, excl. VAT.

  • Permit is granted for an indefinite period of time (required to visit Cyprus at least once every 2 years).

    CRITERIA

1.        Purchase of residential property of at least €300,000 + VAT       

2.       €30,000 3-year fixed deposit at any Cyprus Bank transferred from abroad              

3.        Secure annual income of €30,000.

           Amount increased €5,000 for each dependent person and €8,000 for each parent.            

4.       Clean Criminal record

 

APPLICATION TIMELINE

1. Secure Eligibility Criteria
 • Identify and secure property investment
 • Opening of bank accounts in Cyprus Bank
 • Execute Fixed Deposit
2. Preparation of Application Package
 ( 1 week )
 • Collection of Applicants documentation
 • Declaration of Secured Income
 • Fixed Deposit Certificate
3. Application Processin
(2 months )
 • Submission and Assessment of Application by Civil Registry and Migration Department
 • Visit to Cyprus to provide Biometrics