Information on Citizenship For Cyprus

 

The Cyprus investment program offers an easy and well-controlled means of obtaining Cyprus citizenship, which provides all the rights of the EU citizen, which includes the ability to live and work in any country in the EU. This program requires an investment of €2M in residential real estate, an investment which must be kept for a period of five years, and a €150.000 contribution to two funds. Any nationality is eligible to apply; the application period for examination is just six months.

A few reasons and benefits are:

A Quick exit strategy which is three years,( Your main investment can be sold after three years normally generating good returns.)

You can retain your present Citizenship

The time until you receive Citizenship is only six months, (PR approval is done within 5 days, Passports & ID’s issued within 6 months)

You will have free Visa travel to 173 Countries

No tax consequences

No language requirement, medical test, interview

The freedom to live, work, travel, anywhere in the EU

EU citizens also enjoy the rights in Switzerland, Iceland, Lichtenstein & Norway which participate in the European Economic Area (EEA)

European citizens have the right to protection by the diplomatic or consular authorities of any EU country in a 3rd country (country outside the EU) where your home EU country is not represented by a consulate.

Free trade within EU, business access to 500 million EU citizens, Establishment & free movement of services & goods

Unrestricted right to live, work, travel & study anywhere in the EU

European citizens have the right to attend schools or universities within any EU country for free or with reduced tuition rates, as applicable

European citizens can access the established 1st-class EU health care systems
Cyprus offers a great place to visit/live, it enjoys a strategic geographical position, offers excellent worldwide connections, has excellent infrastructure, a pleasant climate & is highly stable

Investment criterion

Citizenship may be obtained through secure property investment.

€2 Million investment in residential real estate (in a single property or portfolio)

Parents of the main investor can be included in the application provided that they purchase a property with a value of at least €500.000. This amount can be pooled in the main investment if preferred.
€75.000 contribution to the Research Promotion Foundation
€75.000 contribution in the Cyprus Land Development Corporation 

Requirements for Application

Your investment

Passport (copy)
> Birth certificate
> Police clearance certificate
> Marriage certificate (if applicable)
> Detailed biography
> Due Diligence Report
> Schengen Visa (Copy)
> Declaration on previous citizenship application in EU Member States

Fees and Taxes

Submission fee €2,000 per adult, minor child €80

> Approval fee €5,000 per adult

Vat may be reduced to 5% on the 1st property purchase (1st 200m²), instead of 19%

Additional taxes & duties approximately €4,000
PR Application fee €500 per family & €70 per person

The Conditions

1. The main investment may be sold after five years; however, the investor must always maintain/purchase a property with a value of at least €500,000
2. Property purchased up to 3 years prior to the submission of the citizenship application will count towards the required investment
3. Applicants must hold a clean criminal record from the country of origin & country of residence if different & their name must not be on the list of persons whose property is ordered to be frozen within the EU

4. Applicants who have applied for citizenship in another EU Member State and has been rejected are not eligible to obtain Cyprus citizenship.

Any nationality is eligible to apply & the requirements & process are very easy.

 

  • Maispa Developers have packaged together several properties, including individual beachfront properties that are VAT exempt, so our investors seeking to obtain Cyprus Citizenship by real estate investment, will not need to contribute an additional 5% or 19% Vat on their investment packages –thus saving thousand Euros on Government costs.