Disclaimer: The Cyprus Citizenship by Investment Program is no longer available. In November 2020, the Cypriot government officially discontinued the program. This article serves as an overview of the program’s features and highlights an alternative—Cyprus Residency by Investment, which continues to provide attractive benefits for investors.

Why Was Cyprus Citizenship by Investment Popular?

For years, Cyprus was a top choice for high-net-worth individuals (HNWI) seeking economic citizenship. Its strategic location in Europe, high standard of living, and fast-track approval process made it a preferred destination. The program was particularly appealing to entrepreneurs and investors, especially after reforms introduced by the Cyprus Council of Ministers in 2016.

Key benefits included:

• Fast-Track Approval: Citizenship applications processed in just six months.

• Global Mobility: A Cypriot passport provided visa-free access to over 158 countries, including all 28 EU member states.

• EU Privileges: Citizenship granted the right to live, work, and study in any EU country.

• Family Inclusion: Citizenship extended to family members, with benefits passed to future generations.

The program saw high demand, particularly from British nationals post-Brexit, as they sought to retain EU mobility and privileges.

An Overview of the Cyprus Citizenship by Investment Program

Under the now-discontinued program, applicants needed to meet strict eligibility criteria and make a substantial investment in the Cypriot economy. Here's an overview of how it worked:

Eligibility Requirements

Applicants were required to:

1. Have a clean criminal record.

2. Make a minimum investment of €2 million in real estate or other qualifying assets.

3. Retain at least one property worth €500,000 for life.

Investment Options

1. Residential Real Estate:

   • Minimum €2 million investment.

   • Retain ownership for at least three years.

2. Commercial Property or Other Investments:

   • Investments in shares, bonds, or Cypriot companies also qualified.

3. Family Members:

   • Citizenship could be extended to family members for an additional €500,000 investment.

Approval Process

1. Submission of a complete application with necessary documentation, including proof of investment.

2. Background checks performed by the government to ensure compliance with EU regulations.

3. Approval and naturalization typically within six months.

Why Was the Program Discontinued?

The program faced scrutiny from the European Union due to concerns about security, transparency, and compliance with anti-money laundering regulations. In late 2020, the Cypriot government decided to end the program.

While the citizenship program is no longer available, Cyprus remains an attractive destination for investors through its Residency by Investment Program.

The Alternative: Cyprus Residency by Investment

For those seeking access to Cyprus and the EU, the Residency by Investment Program offers a viable alternative. While it doesn’t grant full citizenship, it provides long-term residency with significant benefits.

Key Features of the Residency Program

• Investment Requirement:

  • Minimum €300,000 in new residential real estate.

• Quick Processing:

  • Residency permits approved within two months.

• Family Coverage:

  • Residency extends to the main applicant, spouse, and dependent children under 25.

• Global Mobility:

  • Visa-free travel within the Schengen Zone (once Cyprus joins the Schengen Area).

Eligibility Requirements

Applicants must:

1. Have a clean criminal record.

2. Show proof of annual income of at least €30,000.

3. Deposit €30,000 in a Cypriot bank account.

4. Visit Cyprus at least once every two years.

Benefits of Residency

1. Long-term stability for families and investors.

2. No requirement to live in Cyprus permanently to maintain residency.

3. Favorable tax regime with no inheritance tax.

Why Invest in Cyprus?

Whether for citizenship in the past or residency today, Cyprus remains a leading destination for global investors. Here’s why:

1. Favorable Tax Policies:

   • One of the lowest property taxes in the EU.

   • No inheritance tax.

2. Lifestyle Appeal:

   • Mediterranean climate, excellent healthcare, and top-tier education facilities.

   • High English-speaking population.

3. Safety and Stability:

   • Cyprus ranks among the safest countries in Europe, with a low crime rate.

How M.Residence Can Help

Navigating investment programs and meeting regulatory requirements can be challenging without the right guidance. At M.Residence, we specialize in connecting investors with premium real estate opportunities that align with program requirements and personal financial goals.

Our Services Include:

• Sourcing eligible investment properties, from luxury villas to commercial developments.

• Assisting with application preparation and submission.

• Offering tailored advice for families and multi-generational benefits.

Take the Next Step

While Cyprus Citizenship by Investment is no longer an option, the Residency by Investment Program offers exciting opportunities for investors to secure long-term stability and access to the EU.

Contact us today to explore premium real estate options and begin your journey toward Cyprus residency!