Requirements & Restrictions

TERMS & CONDITIONS

  1. An applicant should be at least 18 years of age, or older
  2. Clean Criminal Record for the applicant and his/her spouse and depended children age 16 and above from the country of their residence. The applicant should not have any frozen assets in EU in result of sanctions taken against him/her.
  3. Residence Permit in Cyprus: The applicant and all adult members of his/her family must hold a residence permit in Cyprus before applying for Citizenship.In case the applicant and his/her dependents are not holders of a residence permit, they may apply for an immigration permit based on the Regulation 6 (2) of the Aliens and Immigration Law, at the same time with the submission of the application for Citizenship.In case the application for Citizenship is rejected, the immigration permit, obtained in accordance with the provisions of this Decision, will be cancelled immediately.
  4. Residence in the Republic of Cyprus with purchasing price not less than 500.000 EUR (+VAT) should be acquired by the applicant and should be kept for a Lifetime.
    • In case the purchase property is of higher value, the additional amount can be considered as a supplement to the total amount of investment.
    • All dependents of the applicant, included under his/her application are covered.
    • 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 applicant has invested in housing unit/units on the basis of the criterion A.1, the purchase of another permanent residence in Cyprus will not be required, provided that the purchasing price of one of these housing units is at least €500,000, plus VAT.

RESIDENCY REQUIREMENTS:

Not required during the process, or after that.

GOVERNMENTAL FEES:

Application submission – Main applicant, spouse and adult children € 2000/person
Application submission – Children under 18 € 80/person
Citizenship certificate issuance (Applicant, spouse and adult children) € 5000/person
Passport € 120/person
Identity card € 80/person
Immigration permit – Main applicant, spouse and adult children € 500/person
Immigration permit – Residence card € 70/person

REQUIRED DOCUMENTS:

For the Applicant and Dependents

  • Application Form (M127) fully completed and signed before a Registrar of a Cypriot court or a consular officer
  • Letter by the applicant or by the representative of the applicant, in which the investment and criterion under which the application is submitted, are briefly explained.
  • Clean Criminal Record From country of Origin and Residence (if different)
  • Passport Copy
  • Birth Certificate
  • Marriage Certificate (if applicable)
  • Copies of advertisements in a daily newspaper (two consecutive posts)
  • Two passport size photographs
  • Curriculum Vitae
  • Documents concerning the permanent privately-owned residence of the applicant in Cyprus (see Residence in Cyprus below)

Spouse additional Documents (if applicable)

  • Copy of the investor’s Certificate of Naturalization (if the application is not submitted simultaneously with the investor)
  • Copy of the investor’s Cypriot passport (if the application is not submitted simultaneously with the investor)

Adult children additional Documents (Age 18 and over) (if applicable)

  • Copy of the investor’s Certificate of Naturalization
  • Copy of the investor’s Cypriot passport
  • Copy of the undergraduate degree (if the applicant is studying for a master’s degree)
  • Certificate of attendance at an Institute of Higher Education (Original)
  • or Medical Certificate attesting the disability (Original)

Investor’s minor children (under the age of eighteen)

  • Application Form M126 fully completed and signed by the parent before a Registrar of a Cypriot court or a consular officer
  • Copy of the investor’s Certificate of Naturalization
  • Child’s Birth Certificate
  • Parents’ marriage certificate
  • Copies of the child’s and parents’ passports
  • Certificate of criminal record from the country of residence of the applicant
  • Written Consent of the non-Cypriot parent (if applicable)
  • Two passport size photographs

Residence in Cyprus

  • Title Deed or proof of Registration with Lands and Surveys Department
  • Proof of payment
  • Copy of Bank Transfer to the local account of the seller or his/her company
  • Evaluation certificate from independent land surveyor (if required)

Investment through a Legal Entity (if applicable)

  • Certificate of Incorporation
  • Certificate of Shareholders (to proof the Ultimate Beneficial Owners)
  • Audited accounts for the last 3 years prior the year of submission

High-ranking Senior Managers (if applicable)

  • Employment Contract
  • Receipt from the Department of Inland Revenue

Investment made by the Spouse, or Jointly (if applicable)

  • Marriage Certificate

Investment in Real Estate, Land Development and Infrastructure Projects

  • Contract of sale.
  • Title Deeds or Proof of Registration of the contract with the Lands and Surveys Department.
  • Proofs of payment of the agreed purchase price.
  • Copy of the wire transfer to a Cypriot Bank in the name of the seller or the seller’s company.
  • An evaluation certificate from an independent registered land surveyor (if required by the Ministries).
  • Investment Plan for the development of the purchased land (in case of land under development)

Acquisition or Establishment or Participation in Cypriot Companies or Businesses

  • Contract of sale.
  • Proof of payment of the agreed purchase price.
  • Certificate of shareholders by the Registrar of Companies.
  • Copy of the wire transfer to a Cypriot Bank in the name of the company or the organization.
  • Specific investment plan.
  • Copies of the employment contracts of the Cypriot or EU citizens employed by the company.
  • Confirmation from the Social Insurance Department as to the insurable income of the Cypriot or EU employees in the company.
  • Copy of the Social Insurance Contributions for every Cypriot or EU citizen employee.
  • Registration Certificate (MEU1) or Permanent Registration Certificate of Union Citizen (MEU3) for employees that are European Union citizens.

Investment in AIF or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec

  • Title/Titles and other relevant documents of the financial assets / units purchased.
  • Copy of the wire transfer to a Cypriot Bank in the name of the company or the organization.
  • Specific investment plan.
  • Confirmation by the CySec.

Investment in government bonds

  • Proof from the Public Debt Management Office for the purchase of special government bonds.
  • Copy of the wire transfer into a bank account of the Treasury of the Republic of Cyprus.
  • Any other document that might be requested by the Ministry of Interior, or the Ministry of Finance.

IMPORTANT NOTE: All documents issued by foreign authorities should be translated into either Greek or English and be duly authenticated by APOSTILLE, or they should be sealed by the Ministry of Foreign Affairs of the issuing country and the diplomatic mission of the Republic of Cyprus in the issuing country).