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Can I purchase commercial real estate to qualify for the Cyprus CBI program?

I understand that part of the requirements for the Cyprus CBI program is to purchase real estate. Do commercial properties qualify? I want to use it for my own company after I become a Cypriot citizen.


Answers
  • Vasiliou Law
    May 20, 2020

    Yes, you can purchase commercial property as part of your investment. Please note that you will still be required to have a residential property worth at least 500,000 euros.

  • P. Angelides & CO LLC
    April 14, 2020

    You may purchase commercial property as well, but you will still have to purchase a housing unit.

  • Costas Indianos & CO – Advocates & Legal Consultants
    April 14, 2020

    Yes, commercial estate qualifies.

  • Evagoras Anastasiou & Associates LLC
    April 14, 2020

    Yes, you can invest in real estate with commercial and/or residential units to obtain citizenship but it is mandatory that within your real estate investment of 2 million euros. One of these units shall be your house/residence unit and must worth at least 500,000 euros plus VAT, and you must retain the possession of the residence for life. The other units of the investment must be retained for a period of at least five years as from the date of the naturalization. Investing in real estate is considered the most favorite option in comparison to other types of investment. The residential property of 500,000 euros is added to the investment of 2 million euros, and as a result, the total financial criteria raises up to 2.5 million euros.

  • CA Advocates (Pourgoura & Aspri LLC)
    April 14, 2020

    Please note that you are allowed to purchase a commercial property of a value of minimum of 2 million euros, but you will be required to buy an additional residential property of 500,000 euros which you need to keep for life.

  • CHRISO SAVVA LLC
    April 14, 2020

    You may purchase commercial real estate as part of your investment for the Cyprus Investment Program. You will, however, need to also purchase a house the minimum value of which must be 500,000 euros plus VAT, which will be your family’s dwelling home and which you will need to maintain for as long as you hold your citizenship.