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Cyprus Citizenship by Investment Program

QUICK FACTS

  • Island in the Mediterranean Sea
  • Major Language: Greek
  • Area: 9,251sq km
  • Population: 1.2 mil
  • GDP: USD 31.1 bil
  • GDP per capita: USD 36,600
  • Cyprus joined the EU in 2004 and adopted euro in 2008
  • The economy of the country is dominated by tourism, finance, shipping and real estate
  • Cyprus suffered heavily from the global financial crisis due to high exposure to Greek Government Bonds
  • Nevertheless, Cyprus emerged from recession in 2015, with current growth of around 3.5%

The citizenship program that allows to acquire EU passport within 6 months. Special structure of the investment allows to acquire 4-5% annual return on 2mil EUR invested in the fund for the renovation of the hotels in Cyprus.

Amount

Total investment of 2.5mil EUR consisting of the following parts:

- EUR 2 mil investment in the commercial real estate fund (with 4-5% annual return);

OR

- EUR 2 mil investment in creation or participation in Cypriot companies;

OR

- EUR 2 mil investment in financial assets of Cypriot companies;

AND

Purchase of a property with a minimal price of EUR 500,000.

The above-mentioned fees do not include the additional administrative fees of EUR 100,000 for due diligence and processing the applicant’s documents.

Timeframe

The passport is acquired within 6-9 months.

Due diligence

Moderate due diligence process.

Main benefits

  • Fastest way to acquire the EU passport;
  • The fund offers 10-12% IRR during 5 years on 2 mil EUR investment;
  • Opportunity to live and work in the EU and EEA states;
  • Simplified procedure of obtaining a 10-year US visa;
  • Financial privacy and effective tax planning;
  • Low tuition rates at the universities of the EU area for your children;
  • Much less strict due diligence when compared to the procedure of acquisition of Maltese passport
  • No language test.

Potential disadvantages

  • Relatively high investment is required to obtain the passport;
  • Visa is still required for the US (even though the procedure is simplified).

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