This program is addressed to non EU HNI (High-Net-Worth Individuals) and UHNI (Ultra High-Net-Worth Individuals) who may want to live, work, travel in the European Union freely without restrictions by using an EU passport.
In order to obtain a Cyprus EU passport some conditions apply, and these are discussed below.
Cyprus parliament has recently approved amendments to the law for Cyprus EU Citizenship by investment. The new amended provisions are more attractive and the procedure more streamlined.
The minimum amount of investment has been reduced from € 5 million to € 2 million.
The following are the alternative ways of investment that may be used under this scheme:
- Immovable property, developments and infrastructure projects in Cyprus; or
- Cyprus businesses; or
- Alternative investment funds or financial assets of Cypriot businesses / organizations established in Cyprus and licenced by the Cyprus Securities and Exchange Commission; or
- A Combination of the above including those that may also include government bonds for a maximum amount of € 500,000 to be held for at least 3 years.
High ranking Managers and Directors of companies
High ranking officials of companies, working in Cyprus who paid personal taxes of at least € 100,000 during the 3 years up to application date may benefit from the scheme provided
- The employing company fulfil the investment criteria
- The applicants must have a clean criminal record
- Own residential property in Cyprus of a value of at least €500,000; and
- Hold a residence permit in Cyprus.
- Investments can be made personally or through vehicles such as companies or trusts.
- In order to qualify, the investment must have been made during the period of three years prior to the date of filing the application and must be kept for a period of at least three years after naturalization.
For any further information or explanations you may have, feel free to contact us.
A team of professional experts are ready to guide any interested party through the process.