Cyprus Citizenship by Investment

Cyprus Citizenship Programme

Admin | 12 Nov 2020

default bannerv2

Cyprus has recently been ranked the 5th best relocation destination in the world by an international lifestyle review (source: 2014 report prepared by Knight Frank, a leading independent, global real estate consultancy firm). Ranked by key business and leisure indicators, Cyprus was the only European country alongside Switzerland to make it into the top five – ahead of London, Madrid and Monaco. Cyprus ranked highly because of its favourable tax regime for new residents, particularly high net worth individuals. 

With at least 320 days of sunshine a year, Cyprus was classified the sunniest European location. Also noteworthy, are recent studies conducted by global immigration experts, ranking the Cyprus Citizenship by Investment program among the “top ten best in the world”.

Legal Basis for Cyprus Citizenship by Investment

Cyprus Citizenship by Investment is available to investors pursuant to the “Scheme for Naturalisation of Investors in Cyprus by Exception” on the basis of Section 111A (2) of the Civil Registry Laws of 2002-2013, based on a Council of Ministers decision dated 19th March 2014. In virtue of this law, the Cyprus Council of Ministers may grant citizenship by naturalization to foreign entrepreneurs. 

Additionally, the law provides for the granting of the Cypriot citizenship by investment to the spouse as well as the children of the investor. Neither the spouse nor the children are obliged to meet any additional financial criteria.

Benefits of Cyprus Citizenship by Investment

  • Citizens have the right to live and work within the 28 countries of the EU.
  • Protection by the diplomatic or consular authorities of any EU country
  • Right to vote and stand for European Parliament elections
  • Free movement of goods, services and capital
  • Visa-free travel to over 157 countries including the EU and Canada
  • Citizenship can be passed to future generations by descent
  • No need to renounce previous nationality as Dual citizenship is allowed
  • Cypriot Citizenship by Investment can be obtained within 6 months
  • Cyprus is a common law jurisdiction

Eligibility for Malta Citizenship by Investment

To qualify under the regulations, a main applicant for citizenship must be at least 18 years of age and must meet the requirements outlined below.

The main applicant may also add dependents to a citizenship application including his/her spouse and children, under certain conditions, to benefit under the Cyprus Citizenship by Investment Programme.

Dependants are eligible

The main applicant may also add dependents to a citizenship application including his/her spouse and children, under certain conditions, to benefit under the Cyprus Citizenship by Investment Programme. 

“Children” includes those up to the age of 18 and children from the ages of 18-28 if they are financially dependent on the main applicant. Additionally, an investors’ child with severe physical or mental disability that makes him or her unable to work is also considered as financially dependent.

Key Requirements

  • The Investor must have a clean criminal record from his country of origin and the country of residence (if it differs).
  • The Investor’s name must not be included on the list of persons whose property is ordered to be frozen by the EU.
  • The Investor must be aged 18 or over.
  • The Investor must visit Cyprus at least once.
  • The Investor can include their dependent spouse and children on the application. Children includes those up to the age of 18  and children from the ages of 18-28 if they are financially dependent on the main applicant. Additionally, an investors' child with severe physical or mental disability  that makes him or her unable to work is also considered as financially dependent.
  • The Investor must own a private residence in the Republic of Cyprus, the purchase cost of which must exceed the amount of €500.000 plus VAT and must be fully paid. It is to be noted that members of the same family, which 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.

Grounds for Refusal of Cyprus Citizenship by Investment

No info infactsheet

Grounds for Revocation of Cyprus Citizenship by Investment

No info in factsheet

Taxation of New Citizens

No info in factsheet

Sale of Property

Other Tax Considerations

Cyprus Citizenship Application Process

  • An Application for Cyprus Citizenship by Investment is submitted to the Ministry of Interior with original supporting documentation and €2,0000 as government fees. The Ministry of Finance will assess the financial criteria of each applicant. At the Ministry of Interior, the original documents should be submitted, along with a copy of all the documents and the application forms. All the documents issued by a foreign authority should be translated either in Greek or in English and be duly authenticated.
  • If the Investor meets the Criteria and Conditions required, the application is submitted by the Ministry of Interior to the Council of Ministers for approval.
  • The application of the spouse is submitted concurrently with the application of the main applicant. Upon the approval of these applications, the children's application will follow
  • Once the Cyprus Citizenship by Investment application is approved, the Civil Registry and Migration Department issues the Certificate of Naturalisation, following payment of of €5,000 that constitutes the certificate issuing fee.
  • Provided that such an application is duly submitted and accompanied by all the necessary supporting documents, and the investor meets the criteria and conditions of the decision of the Council of Ministers, the time frame for the completion of the process is approximately 6 months. It should be noted that the application submission date is the date on which the submission fees were paid.
  • The applicant is required to visit Cyprus to give a sworn statement for accepting the Cyprus Citizenship by Investment.
  • The Council of Ministers has complete discretionary power regarding approval of Citizenship Application.

Our Cyprus Citizenship Services

Contact us for advice on Cypriot Citizenship law while the Cypriot Investment Programme is terminated.  The firm is licenced under the Cyprus Investment Programme and hold licence number CIP 046 in Cyprus.

Get in touch with our specialized Cyprus Investment Programme lawyers - find out if you are eligible for Cyprus Citizenship!

Request More Information
Please send me legal and other updates

Key Contacts

Dr Priscilla Mifsud Parker

Advocate, Tax Consultant, Licenced Agent, Malta

+356 22056422

Claudia Cilia Buhagiar

Senior Private Client Advisor  

+356 22056124

Julia Tirazona


+356 2205 6409

Pauline Gouder

Senior Residency & Citizenship Executive

+356 22056105

Roberta Anastasi

Senior Private Clients Advisor

+356 22056105

Related Practices