As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus, the Council of Ministers of Cyprus established the criteria and terms based on which non–Cypriot entrepreneurs/investors may acquire the Cypriot citizenship by investment, ie the ‘Cyprus Investment Programme’. Antoniou & Metaxa LLC is an approved and licensed service provider, registered with the Registry of Service Providers for the Cyprus Investment Programme. Unlicensed individuals or companies cannot submit citizenship applications under the Cyprus Investment Programme. We strictly adhere to the relevant Code of Conduct of the Programme and we safeguard your best interests.
The core aspects of the Cyprus Investment Programme are the following:
Financial Criteria (Investment):
-Investment in Real Estate – 2 options: [A] €2.000.000 investment in residential property (one of the properties must be at least €500.000) OR [B] €2.500.000 investment in commercial property (ie €2.000.000 in commercial property and €500.000 in one residential property)
-Investment in Businesses in Cyprus: €2.500.000 (ie €2.000.000 in businesses plus €500.000 in one residential property). The Cypriot Businesses must have a proven physical presence in Cyprus with significant activity and turnover and employ at least five Cypriot or EU citizens
-Investment in Alternative Investment Funds in Cyprus: €2.500.000 (€2.000.000 in AIFs plus €500.000 in one residential property)
Financial Criteria (Donation):
– The program requires a total donation of €150.000 ie €75.000 to the Research and Innovation Foundation and €75.000 to the Cyprus Land Development Corporation.
– However the donation requirement of €75.000 to the Research and Innovation Foundation can be lifted if the applicant: [A] has invested €75.000 in a certified innovative enterprise OR [B] has invested €400.000 (of the €2.000.000 investment) in a company whose operations fall within the primary or secondary sectors of the economy (excluding constructions) or a company in the sectors of research and development, education, health and renewable energy sources.
Other Criteria (Non-Financial):
– Clean criminal record
– Due diligence
– Copy of a valid Schengen Visa
– The permanent residency application has to be made alongside the citizenship application.
– The applicant can invest either as a physical person or through a Cypriot company in which he is a sole shareholder.
– The applicant must make the investment within the 3 years before the filing of the citizenship application.
– The applicant must retain the investment for at least 5 years from the date acquiring the citizenship. After the 5 year period, he can sell the investment but he has to maintain ownership of a privately-owned residence in Cyprus which must be at least €500.000.
– The parents of the applicant can also obtain the Cypriot Citizenship if they hold a privately owned residence of a purchase price of at least €500.000.
– The applicant’s family, including his spouse, minor children, financially dependent adult children up to the age of 28 attending an institution of higher education aiming to obtain an undergraduate or a master’s degree, can all obtain the Cypriot Citizenship.
– The expected time for the examination of applications is 6 months.