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You are here: ГЛАВНАЯ arrow News arrow Acquiring Cyprus Citizenship
Acquiring Cyprus Citizenship
Pursuant to the Council of Ministers’ Decision on 24th May 2013, non Cypriot Investors, can acquire the Cyprus Citizenship by Naturalization (by Exception on the basis of the Civil Registry Laws 2002-2013).
Direct Investments may involve the purchase of properties, businesses or companies that are based and are active in the Republic of Cyprus, the purchase of companies registered in the Republic of Cyprus, the purchase of financial assets (e.g. bonds / securities / debentures registered and issued in the Republic of Cyprus, including those to be issued by the Solidarity Fund on the basis of the Establishment of a National Solidarity Fund Law of 2013 and participation in a company/ consortium of companies that has undertaken to carry out a public project.

The following financial criteria must be met:
  • Mixed Investments and Donation to Government Fund amounting to a minimum of €2.5 mln;
  • Direct Investments amounting to a minimum of €5 mln. Investment can drop to €2 mln for a special collective real estate purchase scheme of a total value of no less than €10bln;
  • Deposits in Banks operating in Cyprus - amounting to a minimum of €5 mln (personal deposits or deposits of privately owned companies);
  • Combination of the above mentioned criteria amounting to €5 mln
  • Business Activities - The applicant must be a shareholder or beneficiary owner of a company administrated in the Republic of Cyprus and that over the last 3 years prior to submitting the application has paid to the authorities (taxes etc) and purchased business services for at least €500.000 per annum. - In case the company’s central office is in Cyprus and employs 5 Cypriots, then the above is reduced to €350.000 per annum and in case of employing 10 Cypriots, it is further reduced to €200.000 per annum.
  • Impaired Deposits in the Bank of Cyprus and/or in the Popular Bank - the applicant has impaired deposits amounting to a minimum of €3 mln. In case of impaired deposits of less than €3 mln, the applicant can proceed to make additional investments under one of the above criteria

For every such company (or companies) applications may be submitted by a maximum of two (2) shareholders, who preferably hold the majority of the share capital.

The applicant must fulfill the following terms and conditions:
  1. Clean Criminal Record: the applicant must have a clean criminal record.
  2. The applicant’s name must not be included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union.
  3. Residence in the Republic of Cyprus: the applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the market value of which must exceed the amount of €500.000, excluding V.A.T.
  4. Have at least one visit to Cyprus

Useful Information:
  • Applicant does not become a tax resident in Cyprus, unless he/she spends more than 183 days in one calendar year whilst residing in Cyprus
  • The application package is submitted to the Ministry of Interior. The Ministry of Finance assesses the financial criteria. The approval of Citizenship is granted by the Cyprus Council of Ministers
  • The application processing usually takes 6 months
  • The Council of Ministers has complete discretionary power regarding these decisions
  •  Applicant must submit application form M127 and documentation related to the above mentioned financial criteria.

Disclaimer: This information is for general information and should not be relied on for any commercial or investment decisions.