CYPRUS CITIZENSHIP BY INVESTMENT (CBI) PROGRAM

Overview:

As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus the Council of Ministers, on the 13th of September 2016, revised the "Cyprus Investment programme" and, thus, established the new criteria and terms based on which non–Cypriot entrepreneurs/ investors and members of their families may submit applications in accordance with the provisions of the “Programme”.

Moreover, the Council of Ministers, as a part of its efforts for the further improvement of the “Cyprus Investment Programme” on the 9.1.2018 and 21.5.2018 decided the establishment of the Committee for Supervision and Control as well as of the “Registry of Service Providers for the Cyprus Investment Programme.” According to these resolutions from the 1.8.2018 and onwards applications will only be able to be submitted by Service Providers that are included in the «Registry» on the basis of an improved procedure.

  • Eligibility

    • Main applicant and spouse i.e. husband and wife.

    • Children up to and including the age of 17.

    • Children up to (and including) the age of 17.

    • "Adult children” between the ages of 18 to 28

    i. Provided their application is reviewed by Council of Ministers prior to their 29th birthday; and

    ii. Provided they are students studying towards either a first university degree, or a first master’s degree. Parents of the main applicant, provided an additional investment of minimum €500,000 (plus VAT if applicable), be made in residential property

  • Investment

    RESIDENTIAL PROJECT DEVELOPMENT

    COMMERCIAL PROJECT DEVELOPMENT

    TOURISIM PROJECT DEVELOPMENT

  • Minimum required investment cost

    REAL ESTATEThe applicant must have made an investment of at least €2,0 million for the purchase or construction of buildings or for the con- struction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects. It is noted that investment in land under development is included in this criterion, provided that an investment plan for the development of the purchased land will be included in the application. It is understood that investment in land that is situated in a building zone of zero development, is excluded.

  • Motivations

    • Access to 147 visa free countries

    • No obligation to renounce current nationality

    • Unrestricted right to live, work and study

    • No physical residence requirements ( one visit in every 7 years)

    • No language requirements for residence or citizenship

    • Direct path to citizenship within 4-6 months

    • Personal tax exemptions for new residents

    • Member of the E.U

    • One of the Safest countries in the World

    • Hard working society

    • Family oriented and Family society

    • Zero Title deed transfer fees

    • Corporate tax is 12.5% only

    • High quality of life

    • Hard working society

    • Social insurance planning

    • Growing economy

    • High quality of professional services

    • Excellent variety of food and cuisines

    • Advanced Infrastructure

    • Efficient Banking & Professional Services

    • Tax System

    • European Union & Eurozone Member State

    • Planned Location

    • Eye-catching Legislation for Citizenship

    • Strong Shipping Credentials

Personal Freedom and Advantage

  • There is no requirement to make a donation to the local government in contract to many other citizenship programmes.
  • Cyprus does not require applicants to live on the island prior, during or after the application process, unlike all other EU countries with citizenship programmes that impose some form of residency requirements.
  • Application process takes approximately 6 months.
  • Simple and straightforward application process with no requirements to disclose source of wealth or funds, no medical testing, and no language requirements.
  • Approved by the EU (being one of only two CBI programmes in Europe with official EU approval).

Financial Freedom and Advantage

  • No taxation on income derived from dividend and income derived from interest as soon as he / she is also non-domiciled in Cyprus
  • Tax exemption of 50% of gross employment income earned in Cyprus by an individual earning more than €100,000 of gross employment income per annum and who was resident outside of Cyprus before the commencement of his / her employment in Cyprus (available for 10 years)
  • Tax exemption of 20% of gross employment income (up to a maximum of €8.550) earned in Cyprus by an individual earning less than €100,000 of gross employment income per annum and who was resident outside of Cyprus before the commencement of his / her employment in Cyprus (available up to 2020)
  • No taxation on any profits derived from the disposal of securities including shares and bonds
  • No taxation on income derived from employment to an overseas employer or to an overseas permanent establishment (PE) of a Cypriot employer for more than 90 days in a tax year
  • No taxation for total emoluments up to €19.500
  • 5% tax on pension received from abroad exceeding €3.420
  • No taxation on any lump sum derived from a retirement gratuity
  • No inheritance tax.

POSSIBLE INVESTMENT

SCHEMES/COSTS

01
  • A whole building 7 apartments plus 2 houses
  • 6X2 bedrooms apartments and 1 penthouse 3 bedrooms and 2X3 bedrooms houses
  • FAST SALES WITH HIGH GOP
02
  • 10 APARTMENTS PLUS 1 HOUSE
  • 10X2 BEDROOMS APARTMENT AND 1X3 BEDROOMS HOUSE
  • HIGH GOP
  • 6 HOUSES
  • 6X3 BEDROOMS HOUSES PLUS SWIMMING POOL AND ROOF TERRACE
  • EASY SALES, HIGH GOP
03

Terms and Conditions

1. Clean Criminal Record: the applicant must have a clean criminal record. Furthermore, his name must not be included in the list of persons whose assets, within the boundaries of the European Union, have been frozen as the result of sanctions.

2.Residence in the Republic of Cyprus: The applicant must possess a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.

It is noted that members of the same family, who apply separately as investors, can collectively acquire a residence, provided that the total value of this home-property covers the amount of €500.000 per each applicant.

In case that the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of €500,000, part of this additional amount can be used for purposes of supplementing the total amount of the investment made on the basis of the criteria of Part A above.

Additionally, it is noted that if the applicant has invested in housing unit/units on the basis of the aforementioned criteria, the purchase of another permanent residence in Cyprus will not be required, if at least one of these housing units is worth at least €500,000, plus VAT, provided that the applicant retains the possession of the residence for life.

Timeline- Application Process

1 WEEK

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3 - 3 Months

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ACCESS GLOBAL MOBILITY WITH SECOND CITIZENSHIP

Visa Free Travel to 169 Countries

A Cypriot citizen can freely travel, reside and work within any of the 28 European Union Countries. Furthermore, Cypriot citizens are entitled to traveling to a total of 169 countries without visas or with passports stamped on arrival.

  • AFRICA
  • EUROPE
  • AMERICAS
  • OCEANIA
  • ASIA
  • MIDDLE EAST