Guide to Obtaining Cypriot Citizenship

Travelling, Living & Working in the European Union

Kuutio Homes is an official Service Provider of the Invest Cyprus - Cyprus Investment Promotion Agency - the Investment Authority of the Government of Cyprus - dedicated to attract and facilitate foreign direct investment into the country.

Benefits

  • Spouse, parents, minor children and dependent children up to 28 yeas of age can obtain passport
  • Visa-free travel to 155+ countries
  • One of the safest countries worldwide
  • Excellent education and healthcare
  • The investor is able to rent out his/her privately owned residence
  • Dual Citizenship permitted
  • Ability to travel, live and work without restrictions in any European country
  • 5-year exit strategy for the investment
  • An international business hub with great history and cultural heritage
  • Cyprus has zero inheritance, wealth, giſt and immovable property taxes
  • Free movement of capital, services and goods

Economic criteria: (1) Investment

  • Investment in residential property: €2.000.000 investment in residential property including a property of minimum €500.000. (Can be one property of €2.000.000 + or multiple properties containing at least one property for €500.000).
  • Investment in commercial property: €2.500.000 total investment. €2.000.000 investment in commercial property, tourism or other infrastructure & a residential property of minimum €500.000.
  • The businesses or companies should evidently have a tangible presence and substantial activity in Cyprus and employ at least five (5) Cypriot or EU citizens who have been legally residing in Cyprus for a continuous period of at least 5 years.

Financial Criteria: (2) Government Donation

  • From the 15th of May 2019, the new citizenship by investment program of Cyprus requires a donation to the Research and Innovation Foundation of €75.000 plus a donation of €75.000 to the Cyprus Land Development Corporation (to support housing for the less fortunate).
  • The €75.000 donation to the Research and Innovation Foundation may be avoided if the investment includes either
    • a €75.000 investment in a certified innovative enterprise; or
    • a €400.000 investment in a company whose operations fall within the primary or secondary sectors of the economy (excluding constructions) or a company in the

Requirements and Conditions

The Investor, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus for a period of 6 months If the applicant does not already hold a residence permit, he/she may apply for an immigration permit on the basis of Regulation 6(2) of the Aliens and Immigration Law, simultaneously with the application for naturalization. Permanent Residency card will be issued within 5-7 working days after the submission of the passport application.

  • Clean criminal record
  • Due Diligence
  • Copy of valid Schengen Visa

Other key information

  • The parents of the investor may apply for citizenship aſter the investor ‘s Naturalization as Cypriot Citizen. They need to hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000 (plus VAT if any).  It is noted the investor and his/her parents may collectively acquire a private residence, provided that the total of amount of the residential property is at least €1.000.000 (plus VAT if any).
  • The program applies to the immediate family of the applicant i.e. the spouse or partner and dependent children up to the age of 28 if full time university students and for children with severe physical or mental disability.
  • The applicant can sell the investments made after 5 years from obtaining the citizenship, provided he/she maintains ownership of a property valued at least €500.000 (plus VAT if any).
  • The applicant must have concluded the investment/s in Cyprus during the three (3) years preceding the date of his/her application for citizenship (the purchase of a privately-owned home is exempted from this requirement).

Step By Step Procedure

  • STEP 1: View properties and choose the right property for you.
  • STEP 2: Make a deposit of 3-5% to reserve the property.
  • STEP 3: Apply to the Council of Ministers for approval to acquire immovable property.
  • STEP 4: Open a bank account.
  • STEP 5: Proceed with the signing of the contract of sale and make the first installment of 30% of the value of the property.
  • STEP 6: Apply for Permanent Residency and Cypriot Citizenship (PR granted within 5 days and Citizenship in approximately 6 months)
  • STEP 7: When the full amount for the investment is settled an appointment will be made by your lawyer with the Ministry of Interior for the issuance of the Cyprus Citizenship.

Get More Information for the Investment Program