Services
APPLICATION FOR NATURALISATION OF INVESTORS IN CYPRUS

 

 

 

We can provide legal services and assistance concerning the acquisition of Cypriot citizenship. 

 

Find bellow a revision of the relevant criteria. Feel free to contact us for further information, consultancy and assistance. 

 

 

A non-Cypriot citizen may by exception apply for the acquisition of Cypriot citizenship, if he/ she meets one of the following criteria:

 

A.1 Mixed investments and a donation to a state fund:
 
The applicant must have made the following investments and donation:
 
(a) an amount of at least €2,0 million for the purchase of shares and/or bonds of the Investment
company of the state under formation and
Provided that the applicant may deposit the said amount with the Treasury of the state until the
shares and/or bonds of the said company are issued.
 
(b) an amount of at least €0,5 million as a donation to the Research and Technology Fund
 
or
 
A.2 Direct Investments:
 
The applicant must have direct investments in Cyprus of at least €5,0 million. Direct Investments
may alternatively involve the following:
 
(a) the purchase of properties (houses, offices, shops, hotels etc or a development of a similar
nature, excluding underdeveloped land),
 
(b) the purchase of businesses or companies that are based and are active in the Republic of
Cyprus
 
(c) the purchase of shares of companies registered in the Republic of Cyprus
 
(d) 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)
 
(e) participation in a company/ consortium of companies that has undertaken to carry out a public
project
 
Provided that with regard to conditions (a) – (d), the applicant shall retain the said assets in his
possession for a period of at least three years. In the case of a share or bond portfolio, it is to be
ensured that the amount of the value of the portfolio for the said period will not fall below the
amount specified.
 
Provided further that the Minister of Interior shall have the right, for the period ending on 30
June 2014, to reduce the amount required for Direct Investment to €2,0 million for non-Cypriot
citizens, who demonstrably participate in a special collective real estate purchase scheme,
which will comprise the purchase of property on the territory of the Republic of Cyprus,
controlled by the Government of the Republic, of a total value of at least €10,0 billion.
 
or
 
A.3 Deposits in banks:
 
The applicant must have personal fixed term deposits for three years in Cypriot banks or deposits of
privately owned companies or trusts (in which he/she is the beneficiary owner) in the Republic of
Cyprus of at least €5,0 million
 
or
 
A.4 A Combination of Mixed Investments and a Donation to a State Fund (A.1), Direct
Investments (A.2) and Deposits in Cypriot Banks (A.3):
 
The applicant is required to have a combination of the above amounting to at least €5,0 million
 
or
 
A.5 Business Activities:
 
The applicant must be a shareholder or beneficiary owner of a company (or companies) the
management of which is in the Republic of Cyprus and that over the last 3 years prior to submitting
the application has paid to State Funds (corporate tax, V.A.T. or other fees and charges etc) and
remuneration for the purchase of business services (legal, accounting, auditing) as amount of at
least €500.000 per annum.
 
Alternatively in the case where the applicant is a shareholder or beneficiary owner of a company (or
companies) that is active in Cyprus, has established its central offices in Cyprus and employs at
least five (5) Cypriot citizens, then the minimum amount that must be paid for the above (direct
revenue – corporate tax, V.A.T. or other fees and charges etc and remuneration for the purchase of
business services – legal, accounting, auditing) is reduced to at least €350.000 for the last three
years preceding the submission of the application.
 
In the case where the applicant is a shareholder or beneficiary owner of a company (or companies)
that is active in Cyprus, has established its central offices in Cyprus and employs at least ten (10)
Cypriot citizens, then the minimum amount that must be paid for the above (direct revenue –
corporate tax, V.A.T. or other fees and charges etc and remuneration for the purchase of business
services – legal, accounting, auditing) is reduced to at least €200.000 for the last three years
preceding the submission of the application.
 
For every such company (or companies) applications for naturalisation may be submitted by a
maximum of two (2) shareholders, who preferably hold the majority of the share capital.
In the case where the applicant has paid the Cyprus economy direct revenue or fees (as described
hereinabove) an amount less than the abovementioned amounts, a combination may be made with
criteria A.1 (Mixed Investments and Donations to State Funds) or A.2 (Direct Investments ) or A.3
(Deposits in Banks). The total of payments to State Funds and remuneration for services in the last
three years shall be deducted from the required investment to satisfy criteria A.1 or A.2 or A.3.
 
or
 
A.6 Persons whose deposits with the Bank of Cyprus or Popular Bank have been impaired
due to the measures implemented in both Banks after the 15th March 2013
 
The applicant has incurred an impairment in deposits on one or both of the abovementioned Banks
amounting to a total of at least €3,0 million.
 
In the case where the applicant has incurred an impairment in his deposits in one or both of the
abovementioned Banks under €3,0 million he may apply having made an Additional Direct
Investment (A.2) or Mixed Investments or a Donation to a State Fund (A.1) for the balance of the
required amount of the said criterion.
 
B. TERMS AND CONDITIONS
 
1. Clean Criminal Record: the applicant must have a clean criminal record. Furthermore, his
name must not be included on the list of persons whose property is ordered to be frozen within the
boundaries of the European Union.
 
2. Residence in the Republic of Cyprus: In all cases listed in Part A, the applicant must hold
a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must
be at least €500.000, plus V.A.T.
 
3. In the case where following a periodic inspection it has been ascertained that any condition
is being circumvented, the naturalisation may be revoked.