• +357 (24) 822 700
  • info@newzoedevelopers.com
  • Neapolis Street 1, Forest Beach Estate Shop 5, 7041 Oroklini

Cypriot Passport
Acquisition

Cypriot passport acquisition through the naturalisation of investors in Cyprus by exception scheme by investment in real estate.

Cyprus has become an attractive destination for investment and one of the most interesting financial centres in Europe.

New investment & criteria for Cyprus Passport
(citizenship) as from 15.05.2019

Importance of Cyprus EU citizenship

Low taxation rates

Before applying for Cyprus passport, the applicant
must fulfil the criteria below:

1

A clear criminal record is needed

2

The applicant must already have a permit to stay at Cyprus at the time of application for Cyprus passport.

3

Private house, flat for permanent residence in the island for 500000 euro plus VAT.

4

The applicant must hold a valid Schengen visa.

New criteria for investors

An application to the Cyprus ministry of interior is needed, through a lawyer.

Criterion

Minimum investment of 2000000 euro of property in residential, commercial or tourism sector or other infrastructure projects. Development of a new property project is also acceptable and maybe the best way to combine citizenship with a good investment.

Criterion

The applicant must have invested in Cypriot companies or businesses minimum 2000000 euros. This capital must be channeled for the funding of investment purposes of such businesses only in Cyprus, on the basis of an investment project. Such companies must have an office presence in Cyprus with significant financial activity and an important cycle of activities and must employ at least 5 EU citizens.

Criterion

Investment in Alternative Investment Funds (AIF) or financial assets of Cyprus businesses that are licensed by the Cyprus Securities and Exchange Commission may be an option.

In the case of AIFs the applicant must have bought units of a value of 2 million euro in AIFs regulated in Cyprus by the CySec and of which the investments are conducted in Cyprus. Such investments must be kept on for at least 3 years, the auditor of the AIFs that qualify the specific citizenship granting plan shall notify the Ministries of inferior and Finance every year.

When an applicant buys assets in Cypriot businesses or entities such an acquisition must be over 2000000 euro and it may include bonds that have been issued with the authorisation of the CySec, for companies with a substantial financial activity in Cyprus and which aim at the funding of investment purposes of those entities/businesses only in Cyprus, and on the basis of an investment project.

Criterion

Investors will be required to make a mandatory donation of €75,000 to the ‘’Research Promotion Foundation’’ in order to promote the creation of an entrepreneurial innovation ecosystem.

Investors will be required to make a mandatory donation of €75,000 to the ‘’Cyprus Land Development Corporation’’ aimed at contributing to the integrated housing policy, specifically for the purpose of implementing affordable housing projects and the implementation of other housing plans / measures.

Criterion

It is possible for the applicant to combine the investments in criteria 1-3 above under the condition that the total value of the investment is minimum 2 million euro.

Time frame

In all four cases the applicant must have effectuated the relevant investments within the 3 years preceding the application and the investment must be kept for 5 years after the granting of Cypriot passport.

Criteria for family members

Family members of the applicant who has been granted citizenship can apply for Cypriot passport as well.

For the above purposes , family members are the following:
1. Spouse
2. Civil partner
3. Parents
4. Children
5. Children dependent on the applicant over 18 years old such as students and mentally disabled people

In the case of spouses and civil partners , it is possible for them to apply at the same time as the investor, while parents and dependent children over the age of 18 must apply once the investor has been given their passport.

The applicant’s parent must also fulfil a further requirement; he/she must have a permanent private residence in Cyprus of a market value minimum 500000 euro plus VAT , and where both parents apply they must own a private permanent name of a value minimum 1 million euro plus VAT.

Cyprus Passport is regarded one of the best options worldwide, for businessmen want to expand their operation abroad at a safe and helpfull economic environment.

Investment Properties

Land right on the beach!

€ 1.350.000

  • 13000 m2
  • #3477

Contact us today for a free consultation:

Mail: info@newzoedevelopers.com

Tel: +357 24822700

Fax: +357 24647970

For Resale Properties visit Palourtis Real Estate Agents