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Cyprus

About Cyprus

CapitalNicosia
Total Area9,251 km²
Population1.17 million
LanguagesGreek and English
CurrencyEuro (EUR)

Cyprus has been a full member of the EU since 2004. The island is located in the southeastern Mediterranean Sea, at the crossroads of Europe, Asia, and Africa. The strategic location of the island has played an important role in its development as a financial center. 

Cyprus, with its warm and stable climate and convenient geographical position, is considered an attractive place for residence. The investment landscape in the country is beneficial due to the island’s well-qualified labor force, attractive taxation, and a reliable transport and telecommunications system.

Cyprus has a modern, free-market, service-based economy, with an effective and transparent regulatory and legal framework, giving international investors and businesses the confidence to invest, grow, and prosper. 

The country has a resilient economy and showed continued growth following the last recession. Measures implemented to stimulate the economy have accelerated Cyprus’s GDP growth, placing the island among the highest accelerating economies in Europe. 

The Cyprus Council of Ministers revised the Cyprus Investment Programme and implemented new rules on 15 May 2019, enabling foreign nationals to gain citizenship if they meet certain criteria. When you acquire citizenship under the program, you and your family enjoy full citizenship for life, which is transferable by descent.

Qualifying Criteria 

The criteria which need to be satisfied is the following: 

  • Investment in Real Estate amounting to three hundred thousand euro (€300,000). The investment may be made by a company for which the main applicant and spouse are beneficial owners. Moreover, the investment can be made into a maximum of two properties, provided they reach the three hundred thousand euro (€300,000) permanent residency limit. Alternatively, the Main Applicant may invest one residential unit and one shop (with a maximum area of 100 square metres), or one housing unit and one office (with a maximum area of 250 square metres), provided that the combined value exceeds three hundred thousand euro (€300,000). Notably, the purchased properties must be brand new. 
  • Fixed deposit in a bank account showing a thirty thousand euro (€30,000) minimum deposit in a Cypriot bank account of the applicant, which will be locked for a period of 3 years. 
  • Main Applicant must prove a secure annual income of thirty thousand euro (€30,000). This annual income shall increase by five thousand euro (€5,000) for every dependent person and by eight thousand euro (€8,000) for every dependent parent or parent-in law. 
    Notably, the application can include parents of both the Main Applicant and spouse, and dependent children up to the age of 25. 

Key Advantages

  • Applicants shall obtain Cyprus Residency within 2-3 months 
  • The programme is one of the fastest and simplest investor visa programmes in Europe. 
  • The residency visa is granted within two months and covers the whole family. 
  • It is valid for life and can be passed down to dependents and spouse. 
  • The permanent residency program offers ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years. 
  • Citizenship can be gained after 7 years of uninterrupted living in Cyprus.

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