Cyprus has one of the most popular EU citizenship programs out there. One of the big reasons for Cyprus’ popularity is its tax regime for new residents. The Cypriot taxation system is consistently voted by EU tax professionals as being the most attractive in Europe. Particularly for high net worth investors, Cyprus is an important financial centre. With its strategically pivotal location, Cyprus is quite close to many popular business hubs. On the path to EU Citizenship, Cyprus Citizenship by Investment Program is always among the best options.
1. Investment in Cyprus real estate, developments and infrastructure projects.
The applicant should make an investment of at least EUR 2 million for the purchase or construction of Cyprus real estate.
2. Purchase, establishment, or participation in Cypriot businesses and companies.
The applicant must make an investment of at least EUR 2 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot citizens.
3. Investment in Alternative Investment Funds or financial assets of Cypriot enterprises or Cypriot organizations licensed by the Securities and Exchange Commission.
The applicant should purchase units amounting to at least EUR 2 million from Alternative Investment Funds (AIF). This criterion also covers the purchase of financial assets of Cypriot businesses or organizations for at least EUR 2 million, in the form of bonds, securities and debt securities.
4. Combination of the above investments.
The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million. The applicant’s investment combination may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000.
Changes to the Cyprus CIP Program
After its initial inception, Cyprus Citizenship by Investment Program went through significant changes. Recently, there has been an increase in the total investment amount. The minimum total investment amount is now €2,150,000 including the mandatory €75,000 contribution each to Research and Development Fund and Land Development Organization. The revisions announced by the Council of Ministers in Cyprus will start to take place in 15 July 2019.
Cyprus CIP is Still the Fastest Around
Here is a summary of the latest changes to Cyprus Citizenship by Investment Program:
- The minimum total investment amount increased from € 2,000,000 to € 2,150,000
- €75,000 donation to Research and Development Fund and €75,000 donation to Land Development Organization are mandatory.
- Investment is required to be hold for 5 years instead of 3.
- The resale property investment is increased from €2,000,000 to €2,500,000.
- Only the holders of Schengen visa are eligible for the Cyprus CIP Program.
- Investment in government bonds is no longer an option.
- Applicants who have been rejected from another EU country is no longer eligible for the program.
Among all the EU citizenship options, Cyprus Citizenship by Investment Program is still the fastest track. Granted just in 180 days, Cyprus citizenship is the way to obtain EU citizenship quickly.