Reasons to partake in the program
1. The partner, parents and young children of the depositor are approved Cypriot nationality, additionally, the fiscally supported mature offspring also gain citizenship, including pupils of 28 years of age and younger who are currently in higher education and those who can’t work by way of severe disability, be it mental or physical.
2. The investor will receive dividends in Cyprus, or abroad is they are not permanent residents, the dividends are tax-exempt.
3. Investors will receive the shares, in either Cyprus, or overseas if locals aren’t permanent. They will receive the smallest revenue tax and zero inheritance tax.
4. Investors may go to 157 nations globally in the absence of a visa.
5. Investors will gain twin citizenship, meaning it is possible to work in both countries without having to obtain exclusive permits.
TERMS AND CONDITIONS
1) To be admitted into the program, applicants should have made an investment, totalling €2 million or more.
2) The applicant, who should’ve made the required investing throughout the 36 months preceding the date of application, must preserve the investments for at least 36 months since their naturalization period.
3) Applicants shouldn’t have past convictions of criminal offences and their assets shouldn’t be frozen due to the punishments.
4) A private place of perpetual housing in Cyprus ought to be owned by the investor, the value of the house should exceed half a million euros, plus V.A.T.
5) A Cyprian residence permit must’ve been possessed by investors before the naturalization process.
6) Applicants will not undertake a history or linguistic test, and aren’t obliged to stay permanently in Cyprus
Investment in real estate:
Over a 36-month investing phase, the investor should have invested €2 million minimum, involving the building / purchasing of domestic or industrial structures or property with plan to invest further.
Acquisition or Founding or Contribution in Cypriot Businesses:
Applicants must contribute or acquire a large Cyprian founded and functioning business and should invest at least €2 million, the business must process a sizeable revenue and should employ five or more EU citizens. These five residents ought to live in Cyprus for 5 sequential years earlier to the application submission period and the investment ought to go in the direction of the investment objectives of the Cypriot business and must be founded on a particular financing plan.
Investing in Alternate Investment Assets or economic assets of CySec certified Cyprus based businesses:
Assets must be maintained for 36 months and should equate to €2 million or more.
Investors should invest €2 million or more.
Security personnel/appliances and other fiscal holdings of Cyprus based businesses must be endorsed by CySec.
Mixture of the above-mentioned assets:
Again, at least €2 million is required, however, the investor can purchase separate Cypriot governmental bonds, costing around half a million euros and the equivalent bonds should be held for 36 months.
IMPERATIVE: A private place of perpetual housing in Cyprus ought to be possessed by the investor, the value of the house should exceed half a million euros, plus V.A.T in all cases.
PERIOD OF INSPECTION PROCESS
The fruition of this process, equates to roughly a quarter of a year since the expenses were presented, given that the request is succumbed in due time alongside subsidiary documents and given that the applicant matches the principles and circumstances imposed by the Decision of the Council of Ministers.
Given that the investor has held / holds a residence permit for a minimum of half a year, then the process for obtaining of the Cypriot citizenship will be finalized, if not then they should stay put until the half a year has passed.
PRICE OF INSPECTION PROCESS
· €2000 application expense for submission to the Ministry of Interior
· There is an issuing fee of €5,000 at the Civil Registry and Migration Department to issue the Certificate of Naturalization
IMPORTANT: Proposal of the application for the Naturalization by Exception for parents and/or children must be completed at the Ministry of Interior when the applicant acquires Cypriot nationality.
Source: Ministry of Interior - “Scheme for Naturalization of Investors in Cyprus by exception”, including amendments as of 13/09/2016
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