Citizenship by Investment in Cyprus

Citizenship by Investment in Cyprus

Citizenship by Investment in Cyprus

The applicant must have made an investment of at least €2 million (excluding VAT) for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects.

Included in this criterion is also the investment in land which can be developed provided that the application will be supported with an investment plan for the development of the purchased land.

Investment in real estate, land development and Infrastructure projects can only be considered as eligible provided the following are met:

  • • The property has been granted the planning permit (in cases where the title deed has not been issued);
  • • A certificate of completion has been issued by the architect of the property;
  • • In cases where the relevant property is under construction the seller must deposit in a special account, in favour of the investor, an amount equal to 5% of the purchase price. Alternatively, the seller may issue a bank guarantee for the same amount in favor of the investor;
  • • In cases where the property is mortgaged the applicant must be given a written declaration by the mortgage lender undertaking to waive the

mortgage when the investor or the seller will pay to the lender the amount stated in the relevant declaration.

The applicant must have made the following donations:  €75.000 to the Cyprus Land

Development Corporation and €75.000 to the Research & Innovation Foundation Exemption from the abovementioned.


Additional conditions & requirements

In all investment options listed above the applicant must own a permanent residence in Cyprus with a market value of at least €0, 5 million

(excluding VAT). In case members of the same family apply separately as investors they can collectively purchase a residential property provided its total purchase price covers the amount of €0.5 million (excluding VAT) for each applicant.

  • • In the event that the amount of the residential property exceeds €0, 5 million (excluding VAT), then the additional amount paid can be considered as part of the total amount of the main investment.
  • • In the event that the applicant will invest under Criterion 2 – ‘Investment in real estate, land development and infrastructure projects’, by purchasing a residential property amounting to at

least €0,5 million (excluding VAT), then they will not have to purchase another residential property of €0,5 million provided that one of the residential units is worth at least €0.5 million (excluding VAT) and provided that they will keep in their possession the said permanent residential property for life.

  •  The parents of the investor may apply for the acquisition of the Cyprus Citizenship, as soon as the main applicant will acquire the Citizenship,

provided that they will purchase another permanent residential property amounting to at least €0, 5 million (excluding VAT).

The applicant needs to be a holder of a residence permit in Cyprus for 6 months prior to his / her application for the acquisition of the Cyprus Citizenship.