Cyprus Investment Programme

To qualify under this investment, the applicant must have made an investment of at least €2 million for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects. It is noted that investment in land under development is included in this criterion, provided that an investment plan for the development of the purchased land will be included in the application. It is understood that investment in land that is situated in a building zone of zero development, is excluded.

You should have made the necessary investments during the three years preceding the date of the application and must retain the said investments for a period of at least five years as from the date of the naturalization. It is understood that the investor may replace the investment during the said five-year period, provided that he/she has obtained beforehand an approval by the Ministry of Finance.

Yes, you need to be a holder of a Schengen visa to be eligible to apply to the CIP.

Yes. If for example a property is purchased for 1 million euros, €500,000 can be paid by the investor and €500,000 by the parent. In such a case the parent can also apply for citizenship once the applicant is approved. This means that all applicants can collectively acquire a residence, provided that the total value of this home-property covers the amount of €500.000 per each applicant.

Yes, following the investor’s successful application, his or her minor children can be registered as citizens of Cyprus by filing a simple application and paying a small fee to the Civil Registry Department. Adult children of the investor can also become citizens of Cyprus provided they fulfil certain conditions set. A spouse or civil partner of the investor is also eligible to apply for Cyprus citizenship, either simultaneously with the investor or after the investor is approved, without the spouse having to make a separate, additional investment.

Yes, it can.

Yes. Increase of the total amount of the required donations to €200,000, out of which €100,000 must be donated to the Cyprus Land Development Corporation and the remaining €100,000 to one of the following:

1. The Research and Innovation Foundation; or
2. The Industry and Technology Service; or
3. The Fund for Renewable Energy Sources and Conservation of Energy; or
4. The National Solidarity Fund.

No, you do not need to immigrate to Cyprus. In the case of adults, one of the requirements is to be a holder of a Cyprus residence permit for six months prior to being approved for citizenship. The applications for a residency permit and for citizenship respectively may be filed on the same day.

No, divorce does not affect minor or adult children’s eligibility.

As of 15 May 2019, the list of required documents are (existing and required):

- Applicant's clean criminal record from the country of origin and the country of residence (if di_erent).

- Copy of applicant's Schengen visa (except European citizens and for third- country nationals for whom no entry visa is required).

- Due Diligence Report issued through an internationally accepted database ensured through a subscription.

- Applicant's declaration in respect to investment by naturalization scheme.

- Proof of investment (documents which prove the satisfaction of A.1 and one of the criteria listed between A.2 and A.5 including for instance, for real estate investments, the contract of sale, the proof of Registration of the contract at the Land registry and the proofs of payment of the agreed purchase price).

- Proof of permanent residence in Cyprus of at least €500.000, plus V.A.T.

- It is noted that under the new criteria, additional documents such as the urban planning permission, bank waiver and certificate of completion signed by the project architect will also need to be submitted. As regards the certificate of completion, it is noted that in the case of properties still being constructed, it is necessary to maintain an amount equal to 5% of the value in a special account or the equivalent bank guarantee from the seller of the property to the buyer (Performance Bank Guarantee).

- Any other document that might be requested either by the Ministry of Interior, or by the Ministry of Finance.

No, it is not required.