Cyprus

About

An island rich in culture and history, this important business hub in the heart of the Mediterranean offers one of the most sought after Citizenship by Investment Programs in the world. Boasting a warm Mediterranean climate, safe and stable economy ideal for raising families, Cyprus is ideal for worldwide business and investment purposes.

Benefits

Cyprus’s Economic Citizenship Program has a wealth of privileges to offer for qualifying applicants, including:

  • Fast track program offering Cypriot Citizenship in 3 months
  • No physical residence requirements.
  • No language requirements
  • No need to relinquish your current citizenship
  • As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally.
  • The Cypriot passport allows for visa free travel to 157 countries worldwide including the EU, UK and Canada.
  • One of the lowest taxation rates in Europe
  • Excellent education system as well as first-rate health care.
  • Right to own property in an EU member state.
  • Right to work, live, and study in Europe
  • Right to own land in EU member states

Cost/Investments

In accordance with Regulations issued by virtue of the Civil Registry Laws, applicants seeking Cypriot citizenship by investment must make an investment of 2 million Euro in:

1. Real Estate, Land Development or Infrastructure Project

Applicants may invest at least €2 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.

2. Purchase, Creation or Participation in Cypriot Businesses or Companies

Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.

3. Investment in Financial Assets of Cypriot Companies or Organizations

Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a minimum period of three years.

4. Combination Investments

Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.

*Times Immigration’s professional fees, official application forms, certificates of citizenship & passports, courier & other disbursements are the only other costs associated. A full-itemized quotation with no hidden costs is provided.

Procedure

The following table breaks down the application process into six basic steps.

1
STEP 1

Times Immigration shall pre-screen your passport copy for Government pre-approval to ensure fast processing.

2
STEP 2

The applicant must then select their investment option.

3
STEP 3

The Applicant must then sign Naturalization Application in Cyprus or at a Cypriot Embassy. 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.

4
STEP 4

Simultaneous applications for residency and citizenship. The applicant and family must visit Cyprus to apply for the PR permit. (This is a new condition introduced under the revised criteria issued in September 2016).

5
STEP 5

Residency cards are issued to main applicant and spouse.

6
STEP 6

The applicant and family must then Visit Cyprus to swear the oath of allegiance and issue the Cypriot passports and ID’s. (This is a new condition introduced under the revised criteria issued in September 2016).

VISA FREE COUNTRIES (Visa-free and visa-on-arrival-countries)

AMERICAS

Antigua & Barbuda
Argentina
Bahamas
Barbados
Belize
Brazil
Canada
Chile
Columbia
Costa Rica
Dominica
Dominican Republic
Ecuador
El Salvador
Grenada
Guatemala
Guinea-Bissau
Haiti
Honduras
Jamaica
Mexico
Nicaragua
Panama
Paraguay
Peru
St. Kitts & Nevis
St. Vince & The Grenadines
Trinidad & Tobago
Uruguay
Venezuela

AFRICA

Botswana
Cape Verde
Comoros
Djibouti
Gambia
Kenya
Lesotho
Madagascar
Malawi
Mauritania
Mauritius
Morocco
Mozambique
Senegal

Seychelles
South Africa
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

EUROPE

Albania
Andorra
Austria
Belgium
Bosnia & Herzegovina
Bulgaria
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Georgia
Germany
Greece
Hungary
Iceland
Ireland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Macedonia
Moldova
Monaco
Montenegro
Netherlands
Norway
Poland
Romania
San Marino
Serbia
Slovakia
Slovenia
Spain
Ukraine
United Kingdom

Vatican City

ASIA

Armenia
Bahrain
Bangladesh
Brunei
Cambodia
Indonesia
Israel
Japan
Jordan
Kazakhstan
Kyrgyzstan
Laos
Lebanon
Malaysia
Maldives
Nepal
New Zealand
Oman
Philippines
Timor-Leste
UAE

ASIA

Fiji
Kiribati
Marshall Islands
Micronesia
Palau
Papa New Guinea
Samoa
São Tomé and Príncipe
Solomon Islands
Tonga
Tuvalu
Vanuatu

LOCATION

Cyprus is an island located in the Mediterranean sea, just south of Turkey.

CAPITAL

Nicosia

TOTAL AREA

9,251 sq. km.

LANGUAGES

The official languages of the Republic of Cyprus are Greek and Turkish, with Turkish the official language in Northern Cyprus. English is widely spoken throughout the Republic.

RELIGION

Nearly 80% of the Cypriot population are considered as followers of the Greek Orthodox Church. The rest (4 %) are the smaller religious groups of the Anglicans, Roman and Latin Christians,
Armenian Orthodox, Greek Evangelics, Jews and others.

GOVERNMENT TYPE

Cyprus is a presidential republic.

CURRENCY

Euro (€)

MAIN INDUSTRIES

Tourism, Agriculture, Cement, Chemicals, Fishing, Food Processing, Mining, Non Electric Machinery, Petroleum Refining, Textiles and Clothing, Tourism, Wine Making.

MAIN EXPORTS

Asbestos, Cement, Chemicals, Cigarettes, Citrus Fruits, Footwear, Potatoes, Wine.

MAIN AIRPORT

Larnaca International Airport (IATA)

CLIMATE

Cyprus enjoys an intense Mediterranean climate, with long dry summers from mid–May to mid–October, and mild winters from December to February.

DRIVES ON THE

Left

CALLING CODE

+357

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