Cyprus Citizenship and Residence Program - New Website

Costs & Timeline

Investment Required

Non-EU citizen may apply for the acquisition of Cypriot citizenship if they meet the following criteria:

EITHER A. Deposit In a Bank Residential Property in Cyprus
The applicant must have personal fixed term deposits for three years in Cypriot banks or deposits in the Republic of Cyprus of at least EUR 5,0 million.Deposit In A Bank The applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the market value of which must be at least EUR 500.000, plus V.A.T.Residence in Cyprus
(both of these criteria must be met at the same time)
OR
B. EUR 2,5 Million investment in a single luxury property – (special collective investment scheme) Single Luxury Property
OR
C. EUR 2,5 Million investment in several properties including a permanent residency of at least EUR 500,000 – (special collective investment scheme) Several Properties

Conditions

The investor must always keep a real estate investment of a minimum value of €500,000 which will be declared as the permanent residence. The remaining investment may be sold after 3 years.
Additional Government Citizenship Application Fees are applicable.

Qualification Criteria

Qualification CriteriaThe main applicant must be 30 years of age and above.
The main appicant is permitted to include their dependant spouse and children on the application.
The applicant’s spouse applies with the applicant for citizenship. The dependents may apply on approval of their parent’s application. This can be done within 3 months of the date of submission at no extra cost.

The definition of dependent is as follows:

  • Children, up to the age of 18 and
  • Children from the age of 18-28, if they are financially dependent on the main applicant
    The Cyprus law states that adult children of an investor are considered financially dependent if they are students up to the age of 28 and are attending an institution of higher education aiming to obtain a diploma, an undergraduate or a masters deggree and their main ativity is to study. The law excludes individuals who are studying for the acquisition of a professional qualification (charted accountant or barrister) or individuals who are studying fors the acquisition of a second or third diploma or degree (either undergraduate or masters). Additionally, an investor’s child with severe physical or mental disabilities, which make him or her unable to work is also onsidered financially dependent, regardless of their age.