Cyprus

Citizenship By Investment

2 million euros

Real Estate Investment

Residency By Investment

300,000 euros

Real Estate Investment

Mobility

174

Visa Free Travel

Cyprus Investment Immigration Programs Overview


NOTE: Cyprus suspended its CBI program in November 2020!

Cyprus suspended its CBI program in November 2020 after media reports alleged the scheme was rife with corruption. A few months later, the Cypriot president told an inquiry committee tasked with looking into Cyprus’ citizenship controversy in February 2021 that Cyprus would no longer offer a path to naturalization to investors.

Despite this recent set back, Uglobal experts say other options such as the permanent residency-by-investment, start-up visa and intellectual property programs remain available to international investors in Cyprus.

Investors can enjoy Cyprus for its location, its low taxes and flexible approach that allows applicants to retain their current nationality, and to acquire and maintain Cypriot residency.

Cypriot residency isn’t as attractive from a mobility standpoint, however. Cyprus is one of the few EU countries that aren't part of the Schengen area, so residents will have to rely on their existing passports to gain entry to the rest of Europe and will remain subject to their existing visa requirements.

COUNTRY

The island is popular for its prime strategic location, it is Europe’s most eastern part and closed to the Middle East, warm and sunny weather all year around, historical and cultural island and amazing hospitality. Cyprus is an international business center with a modern tax regime acceptable by the European Union, one of the lowest corporate rates in Europe and a number of tax incentives that make is favorable among investors. Besides offering a beautiful location and year-round sunny weather, Cyprus is now one of the safest and most stable nations of its size.

Updated by Celia Pourgoura

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Citizenship By Investment


NOTE: Cyprus suspended its CBI program in November 2020!

Cyprus suspended its CBI program in November 2020 after media reports alleged the scheme was rife with corruption. A few months later, the Cypriot president told an inquiry committee tasked with looking into Cyprus’ citizenship controversy in February 2021 that Cyprus would no longer offer a path to naturalization to investors.

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Residency By Investment

Cyprus offers a residency-by-investment program at a sharply reduced cost. Investors must demonstrate that they have an annual income of at least 30,000 euros and, depending on the number of dependents applying with the applicant, deposit at least 30,000 euros in a Cyprus bank, and purchase a first-sale residence valued at 300,000 euros or more. They are obliged to visit Cyprus at least once every two years.

Following an amendment to the law regarding the Cyprus Permanent Residence Permit, foreign investors can now also invest in non-residential properties like hotels, offices, shops etc. They now also have the option to invest in company shares, provided the company maintains a physical presence in Cyprus and employs 5 people at minimum. Investments in compartments of Cypriots UCITS (AIF, AIFLNP, RAIF) are also now available to foreign investors.

Another residency program for talented entrepreneurs is the Cyprus Startup Visa scheme, which allows individual or a team of investors to establish a business with high growth potential in Cyprus. The business must be innovative, meaning at least 10% of its operating costs in at least one out of three years before the application must be used in research and development activities. For a new enterprise without financial history, a business plan submitted will be subject to rigorous evaluation. The government provides a specific format of the business plan and the required information it must contain.

Updated by Celia Pourgoura

Disclaimer

The above information is only a brief description of the provisions of the relevant Cyprus Law up to the date of publication the above content and in no way is exhaustive. Further professional advice should be sought for each particular case.

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The Quebec Immigrant Investor Program has stopped accepting new applications until April 1, 2021

The Quebec Immigrant Investor Program

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