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Cyprus - Citizenship by Investment Program

This program is the only program in Europe by which you can become a citizen of European Union very fast. If you are prepared to invest at least 2,500,000 Euros, please call our office in Toronto at +1-416-4105508 or email us at info@itc-canada.com

Program Summary

On 25 May 2013 the Council of Ministers passed a decision amending the existing Investment Citizenship program making it easier for investors to obtain Cyprus Citizenship.  The program is one of the fastest to lead to residence and citizenship in Europe.

Qualifications

    • The applicant must possess a valid passport;
    • The applicant must provide documents supporting the source and origin of the declared funds for investment;
    • The applicant must not have any criminal record;
    • The applicant’s name must not be included in the list of persons whose property is ordered to be frozen within the boundaries of the EU;
    • The applicant must choose one of the following investment options:
      • (1) Mixed investments and a donation to a state fund
        Applicants choosing this option must deposit €2 million for the purchase of shares and/or bonds of the State Investment Company (under formation) and should make a donation of at least €500,000 to the Research and Technology Fund.Investors need to maintain the shares and/or bonds for a period of three years.
      • (2) Direct Investment
        Applicants choosing this option must make a direct investment of at least €5 million in the purchase of a property, businesses or financial assets. Investors need to maintain ownership of the assets for a period of three years.
      • (3) Bank Deposit
        Applicants choosing this option must have a fixed term deposit of at least €5 million for three years in a Cypriot bank (4) Combination of options 1, 2 and 3 amounting to at least €5 million
    • (5) Business Activities
      Applicants choosing this option must be shareholders or beneficiary owners of a company, the management of which is in the Republic of Cyprus and the company has contributed at least €500,000 per annum, in the past three years to state funds (corporate tax, VAT, etc.).
    • (6) Persons whose deposits with the Bank of Cyprus or Popular bank have been impaired
    • Applicants that have incurred an impairment in deposits on one or both of the aforementioned Banks amounting to a total of at least €3 million can apply for Cypriot citizenship. In case that the impairment incurred is less than €3 million, one can cover the difference by making an additional investment in the above-mentioned options.
    • The applicant must pass a security background check.

    Benefits

    • Fast-track procedure allowing for direct path to citizenship within three months;
    • No physical residence requirements during or after the application procedure (the only requirement is for one visit every 7 years);
    • No language requirements for residence or citizenship;
    • No obligation to relinquish current nationality;
    • Low tax rates and free trade within the EU;
    • Unrestricted right to live, work and study in Europe;
    • Right to own land in an EU member state;
    • Strategic geographical location, forming a bridge between the EU, the Middle East, and North Africa with direct access to the Mediterranean Sea;
    • Low crime rate, excellent education system with a number of high standard schools and universities and first-rate healthcare;
    • An outstanding holiday destination.

    This program is becoming more and more popular among investors who want to Invest in Real Estate and become a citizen of Europe. If you are interested please call our office in Toronto at +1-416-4105508 or email us at info@itc-canada.com