Recently I moved to Cyprus with my start-up visa from a small business I started. I have taken to the island immediately, though. How can I start upgrading my visa to full citizenship, so I can permanently relocate to Cyprus?
In order to be able to be naturalized as Cypriot citizen, you should either process with the Cyprus Investment Program or to reside in Cyprus seven years with a valid resident permit, i.e., your start-up visa, in order to submit an application for naturalization.
If you do not wish to make an additional investment then you will need to stay seven years in Cyprus for the duration of 183 days a year in order to be eligible to obtain a Cyprus passport. If you wish to make an investment, then the only upgrade to your visa, this can be done in six months. It will be to invest 2 million euros to obtain Cyprus citizenship.
You will need to meet the investment criteria: purchase a house the minimum value of which is 500,000 euros, plus VAT; invest 2 million; pay the amount of 75,000 euros to the government's housing fund and 75,000 euros to the government's innovation fund (not refundable).
A resident card holder of Cyprus may apply, under conditions, for a Cyprus passport after the lapse of seven years of residency
Given the fact that your start-up is successful, and you are able to renew your permit and reside in Cyprus for seven consecutive years, then you will have the option to apply for Cypriot citizenship based on years of residency. The second option is to apply for citizenship by exception through the Cyprus Investment Program.
In order to "upgrade" you will simply need to comply with all the requirements for citizenship, which are well known. No other way about it.
The definition of an upgrade of your visa is not appropriate as there is no such officially from the Cyprus government. However, you can change your status via different available applications, provided that you fulfill the criteria required. Since you are already in Cyprus I suggest you book an appointment with our office for the clarifications of your needs and advise accordingly.
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