Your Guide To Property investment in cyprus

Become a citizen of Cyprus, a European Union Country, by investing through the Cyprus Investment Programme

Not only can you enjoy all the benefits of life on the spectacular Mediterranean island with its incredibly sweet, sun filled climate, you could also be better off financially – Cyprus is a low tax destination with some very attractive incentives.

One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus.

Basking in over 340 days of sunshine a year, Cyprus is an ancient land famous for its archaeological sites and beautiful beaches. Lying at the crossroads of three continents, it is a beguiling mix of east and west boasting mountain peaks and deserted beaches and blending untamed beauty with cosmopolitan city life

Key factors that make Cyprus an attractive destination for investment, are the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.

We can recommend some stunning high end properties for your investment.

Become a citizen of Cyprus an EU member state

INVESTMENT CRITERIA AND CONDITIONS

BENEFITS OF THE CYPRUS INVESTMENT PROGRAMME

• SIMPLE – Application will be examined within 6 months
• NO RESIDENCE REQUIREMENTS – Investors must visit Cyprus at least once every 7 years
• FREE MOVEMENT – Citizens have the right to live, work and get an education within the European Union, Free movement of goods, services and capital, Visa-free travel to over 158 countries including the EU and Canada
• PROTECTION – Protection by the diplomatic or consular authorities of any EU country
• LANGUAGE – There are no language requirements
• RIGHT TO VOTE – All European Citizens have the right to vote and stand for European Parliament Elections
• DUAL CITIZENSHIP – No need to renounce previous nationality as dual citizenship is allowed
• VALID FOR LIFE – Citizenship can be passed to future generations by descent
• ELIGIBILITY – All nationalities are eligible for the programme
• NO TAX CONSEQUENCES – No tax consequences unless one opts to become a tax resident in Cyprus

Important Update

This is to kindly inform you that the Council of Ministers of the Republic of Cyprus, during its meeting on 13.02.2019 has approved changes in the Cyprus Investment Program as analysed below:
Changes applicable immediately:

1.Applicants who have applied for citizenship in another EU Member State and such application has been rejected shall not be eligible to obtain the Cypriot Citizenship.
All applicants shall be required to submit a declaration with regards to the above.

2. Investments in bonds is no longer available.
For the applications which will be submitted from the 15.05.2019 and after, the following conditions have been added:

1.DONATION
A.The investor will have to make a donation of minimum EUR 75.000- in the Research Promotion Foundation. A donation of up to EUR 75.000- will not be considered as part of the investment amount but it will be over and above.
If however an investor donates more than EUR 75.000-, then such additional amount, shall be counted as part of the investment.

Exception:
i. Citizens of EU Member States
ii.Citizens of third countries who do not need a visa to enter EU Member states.

3.EXIT STRATEGY
The investors will have to retain their investment for 5 years from their naturalization. If they want to change their investment, they have the right to do so provided they obtain an approval from the Authorities of Cyprus.

4.PERMANENT RESIDENCE
The exception remains that if the applicant invest exclusively in residential units and at least one of the units is EUR 500.000 plus V.A.T. then he shall be exempted from the obligation to purchase an additional permanent residence of EUR 500.000- plus V.A.T.
However, for applications submitted after the 15.05.2019 and the investment has been made in properties which have already been used for the Cyprus Investment Program, then the overall investment threshold shall be EUR 2,5 million.

5.PLANNING PERMIT
Copy of the Planning Permit (where such is required to be issued by the relevant laws of Cyprus), should be submitted as part of the citizenship application documents.

6.BANK WAIVER
Copy of the Bank Waiver issued by the Bank, should be submitted as part of the citizenship application documents.

7.COMPLETION CERTIFICATE
A Completion Certificate issued by the architect of a project should be submitted as part of the citizenship application documents.
In case of an under construction property then 5% of the purchase price, should be paid in a special account or the seller should issue a bank guarantee for the amount of 5%.