- Choose an investment plan from the available options and proceed with investment of 2M
- Choose and Purchase of Residential property (EUR 500K + VAT)
- Collect supporting documents
- Submitting the Application form: The application for the Naturalization by Exception needs to be submitted at the Ministry of Interior and the amount of €2.000 as fees will need to be paid. At the Ministry of Interior, the original documents should be submitted, along with a photocopy of all the documents.
- Examination process: The documents relating to the business activities and investments of the applicant in Cyprus are sent to the Ministry of Finance for evaluation and views on whether the applicant meets the criteria. At the same time, the Ministry of Interior investigates whether the applicant meets the other conditions set by the Council of Ministers. If the applicant meets the Criteria and Conditions of the Decision, the Minister of Interior presents the case to the Council of Ministers for final decision.
- After approval of the application, the applicant can proceed with the acquisition of the Citizenship and the issue of a Cypriot passport, provided that the applicant holds a residence permit for a period of at least 6 (six) months. If the applicant does not hold a residence permit for such time period, he/she will need to wait upon completion of the six-month period. Afterwards, the Civil Registry and Migration Department issues the Certificate of Naturalization, following payment of the amount of €5.000 that constitutes the Naturalization Certificate issuing fee. Subsequently, the applicant will need to give the Oath of Faith to the Cypriot Republic before a Registrar of a Cypriot court or a consular officer of the Republic of Cyprus. Once this procedure is completed the applicant will be able to acquire a Cypriot passport and Identity Card. For that the Biometrical Data must be provided, therefore the successful applicant must visit Cyprus.
The Decision of the Council of Ministers dated 19.3.2016 provides for the granting of Cypriot citizenship to the investor’s spouse and financially dependent adult children (eighteen years of age or over). Neither the spouse nor the children are obliged to meet any financial criteria.
- Spouse – Can apply together with the main applicant
- Investor’s adult dependent children (eighteen years of age or over up to 28) The application can be submitted to the Ministry of Interior, after the investor has acquired Cypriot citizenship
- Investor’s minor children (under the age of eighteen). The application can be submitted to the Civil Registry and MigrationDepartment, where it is also processed, after the investor has acquired Cypriot citizenship.
- Investor’s parents or parent’s in-law can also be included under the application provided that an additional residential house of 500.000 EUR + VAT has been purchased for them.
Provided that an application form 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 timeframe for the completion of the process can take from 3 to 6 months depending if the applicant is holder of Permanent Residency Permit in Cyprus prior application.
It should be noted that the date of submission of the application is counted as the date on which the submission fees are paid, as noted on the receipt issued by the Cashier’s Office of the Ministry.