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Cyprus Investment Program

Costas Gavrielides & Sons Ltd. is registered with the Ministry of Finance as a service provider under Registration Number (CIP) 483 dated 20/12/2018

The Cyprus investment program encourages Foreign Direct Investment which enables a non-Cypriot that meets economic criteria to acquire citizenship for himself, his family and dependent children up to the age of 28 years old. The program requires an investment of €2 million into residential real estate which should be retained for five years. Investment in other sectors is €2,500,000. Any application which includes re-sale property already used in a previous citizenship application by another applicant, increases the amount of the investment for the new application to €2,500,000. All nationalities are eligible to apply. Key factors that make Cyprus an ideal destination for investment is the highly specialized human resources, the reliable legislation and regulatory framework as well as a stable tax system and the safety and stability conditions which prevail in the country.

Benefits

The Cypriot Citizenship process is approximately 6 months

Dual citizenship is permitted

Free movement to live, work, travel and study anywhere within the European Union including Switzerland, Iceland, Lichtenstein and Norway (part of the European Economic Area)

Visa Free travel to 158 countries

No residency requirements

Passports are issued to the investor, their spouse and dependent children up to the age of 28 years old, provided they are in full time education

Citizenship is passed on by descent

No language requirement

No tax consequences unless you opt to become a tax resident in Cyprus

No donation is required

Investment in a free hold property

All nationalities are eligible for the program

Facts

Cypriot Citizenship may be obtained by secure residential property investment of €2,500,000 plus VAT

Examination period of the Passport Application is approximately 6 months

There is no need to renounce previous nationality, dual citizenship is permitted

Applicants need to be in possession of a Schengen visa when submitting an application

Any applicant who has applied for the acquisition of citizenship in another Member State of the European Union and has been rejected will not be entitled to acquire Cypriot citizenship within the framework of the Cyprus Investment Program

Due diligence and background checks shall be carried out by a specialized foreign firm for each and every application

The applicant should be in possession of a residence permit in the Republic of Cyprus for at least six months prior to naturalization as a Cyprus citizen

The investors’ parents are entitled to apply for Cypriot citizenship provided they have purchased a permanent residence

The investment should be maintained for 5 years following the date of naturalization. During the 5 year period, the investor will be able to change his investment, provided that consent is granted by the Ministry of Finance

Investment can be a single or combined portfolio of residential properties. A planning permit must be in place in order for an investment in real estate to qualify

Shipping is included in the investment sectors, investment in government bonds is not allowed

A clean criminal record is required

No residence is required

A donation of €75,000 for Research and Innovation is required

A donation of €75,000 to the Cyprus Land Development Corporation to fund affordable house is required

A limitation of 700 applications per year