An important hub in the heart of the Mediterranean at the crossroads of Europe, Africa and Asia, Cyprus is diverse, culturally rich and perfectly placed for working and traveling within and beyond the European Union. The economy has been driven by activity in shipping, tourism, legal and financial services, and has also seen a surge in foreign investment, development, and property values.
As of November 1st 2020, the Cyprus Investment Programme has been suspended for new applicants. Contact an advisor for the latest options and alternatives in the region.
WHY CHOOSE CYPRUS?
Cyprus boasts a rich and diverse culture, mild Mediterranean climate, and a safe and stable setting ideal for raising families. Investors also look at Cyprus for business and investment purposes, recognizing numerous investment opportunities. Some of the key advantages historically associated with the program included:
- Approval of citizenship application within months.
- Simultaneous submission of residency and citizenship files.
- No language requirements.
- Possibility for parents to qualify under certain property conditions.
- Civil unions eligible to apply.
- No obligation to relinquish current nationality.
- Attractive tax framework and EU free trade access.
- Unrestricted right to live, work and study in Europe.
- Right to own property in an EU member state.
- Strategic location bridging the EU, Middle East and North Africa.
- High levels of personal safety in a country under 5 million people.
- Strong education system and quality healthcare.
- Outstanding holiday and lifestyle destination.
QUALIFICATIONS
The Cyprus Investment Programme was offered in accordance with Cyprus civil registry laws and was one of the faster routes to EU residence and citizenship. To qualify, applicants historically needed to satisfy one of the investment routes and maintain it for several years, alongside meeting core criteria such as:
- Possession of a valid passport.
- No criminal record.
- Valid Schengen visa.
- No prior rejection from another EU member state's citizenship program.
- No frozen assets within EU boundaries due to sanctions or legal issues.
- Holding a residency permit in Cyprus for a minimum qualifying period before citizenship approval.
- Ownership of a permanent private residence in Cyprus with a minimum value (historically around EUR 500,000 + VAT).
- Compliance with minimum total investment amounts depending on the chosen option.
INVESTMENT OPTIONS (HISTORICAL)
Donations
In addition to the main investment, applicants were required to make defined contributions to entities such as:
- Housing schemes via the Cyprus Land Development Corporation.
- Research, innovation or energy-related funds (or similar qualifying bodies).
1. Real Estate, Land Development & Infrastructure
Investing in residential or commercial real estate, land development or infrastructure projects, subject to a minimum investment threshold.
2. Cypriot Companies or Businesses
Purchase or participation in companies established and operating in Cyprus, often requiring a minimum number of local or EU employees and proof of substantial business activity.
3. Alternative Investment Funds & Financial Assets
Subscription to units in Alternative Investment Funds (AIFs) or similar regulated vehicles that invest in Cyprus-based assets, within defined limits.
4. Combination Investment
Applicants could also combine elements of the above routes, as long as the total investment met or exceeded the prescribed minimum.
NEXT STEPS
While the original Cyprus Investment Programme has been suspended, investors interested in European residence or citizenship by investment can explore alternative options in the EU and wider region.
- Compare residency and citizenship pathways in multiple jurisdictions.
- Model total investment, fees and timelines tailored to your family.
- Review global mobility options based on current passport and target destinations.