Cyprus Investment Programme
We are OFFICIAL PROVIDER authorized by the Ministry of Finance of the Republic of Cyprus
Minimum investment – 2,000,000 euro
Investors who participate in the programme will enjoy
The way you choose
Secure your best future now!
The applicant acquires not just a Cypriot passport, it is a full citizenship of EU citizenship. This means investors get the opportunity to move, live, work or study without any restrictions in any EU member state.
Thus, if someone has a goal to live permanently, for example, in France, he can quickly get a Cyprus passport and move to France.
The Cyprus Investment Programme is considered to be one of the most attractive in Europe for a number of reasons, including:
- Entire application process for obtaining citizenship takes approximately 6 months
- There is no requirement for applicants to live in Cyprus prior, during, or after the application process
- There are no language requirements
- Investors must keep their investments for a period of five years, after which they will be eligible to sell, provided that they keep a personal residence property worth €500,000
Please note: Additional costs do apply.
The Cyprus Developers Alliance, jointly with KPMG (Cyprus), offers assistance in the Cyprus Investment Programme. The CDA Group provides a comprehensive selection of properties that are suitable for investment, while our partner KPMG (Cyprus) provides legal services and assistance in the preparation of the relevant documents for the application process.
- You have contacted Cyprus Developers Alliance - the official provider of the Cyprus Investment Programme accredited with the Government of the Republic of Cyprus.
- We are a local Cypriot company; our head office is in Limassol. Here you will learn everything about the programme directly from the source, without intermediaries.
- The Alliance is primarily one of the most distinguished licensed operators of the Cyprus property market. Registration No: 624, License No: 61 / E.
- We present properties of 43 developers, there are more than 9000 properties in our portfolio all over the Republic of Cyprus, covering the entire real estate market and its segments.
- At the same time, Cyprus Developers Alliance is a sizeable investor in residential and commercial properties in Cyprus and a developer, realizing its own projects under the CDA Group brand:
- The Alliance is a member of the Cyprus Chamber of Commerce, FIABCI and SKEK.
- We held 35 international conferences in different countries of the world where we made presentations on the Programme and, of course, on the investments in Cyprus; We also advise and conduct training seminars for international immigration and law firms.
- By contacting us, you will receive the most qualified and competent set of all necessary services and professional support for investments pertaining to Cyprus (EU) citizenship, as well as on tax and other related matters, all-in-one.
- KPMG is a global network of professional firms providing Audit, Tax and Advisory Services. It is one of the Big Four auditors worldwide, and employs 162,000 specialists across 155 countries
- The company was founded in 1987, but its history in the auditing and tax market dates back to 1925
- KPMG in Cyprus boasts 750+ professionals who provide services to more than 6000 companies in various industries and sectors across the island
- KPMG has decades of experience and an impeccable reputation as a recognized authority in the field of consulting and customer service
Cyprus Investment Programme: How it Works
Approximately 3-4 weeks in advance, the Investor and his/her family members should begin preparing the relevant documents required for the application process. These include:
- Copies of passports
- Copy of the utility bill for proof of address
- Birth certificates
- Marriage certificate
- Certificate of clean criminal record
- Individual photos
The certificate of clean criminal record should be applied for well in advance, as this takes some time to obtain. If the country of actual residence of the Investor and his/her spouse differs from the country of their citizenship, then a certificate of clean criminal record must also be obtained from the country of their actual residence as well.
All birth certificates, marriage certificate and certificates of clean criminal record must bear an Apostille in order to verify their legitimacy.
Contact us for a complete list of the most current required documents.
Once all documentation has been gathered, the Investor will then visit Cyprus in order to select a property for investment.
The CDA Group boasts several thousand Cyprus properties in its Real Estate portfolio and our team of experienced professionals continuously analyse the property market and its various segments, remaining abreast of all the latest trends and developments. As such, we are able to offer a detailed consultation with the Investor on which property best meets their specific requirements. We will then assist in the creation of an investment strategy, and once the Investor has selected the most optimal property or properties, a reservation deposit (of 1-2%) is made.
As a rule, the selected property is reserved for the buyer for a period of several weeks, during which time the Sale and Purchase Agreement is prepared. Upon agreement of its terms, the Investor must then sign the Agreement. This can either be done directly by the Investor in Cyprus, via Power of Attorney, or the agreement can also be sent directly via express courier, all depending on which method is most convenient for the Investor. Payment is then made, and the Agreement is submitted to the Land Registry Office.
Once the citizenship application file has been completed, the Investor and his/her spouse sign a citizenship application before the registrar in a Cyprus court. This includes submission of biometric data (fingerprints, iris scans, etc). All necessary documents are then submitted to the Ministry of Interior, thereby launching the procedure for obtaining citizenship. A Permanent Residency permit is issued within 5 working days, after which time the Investor and his/her family are able to leave Cyprus. This permit is valid until citizenship is granted.
After a processing period of approximately 6 months following the submission of documents to the Ministry of the Interior, during which time due diligence will be conducted, approval is granted and passports are issued.
Investors will need to be in Cyprus in order to receive these, though they may also do so from Cyprus consulates in certain countries. Contact us directly for details on where this is permitted.
Local Cyprus ID cards will also be issued within 1-2 weeks’ time. These can be received by proxy and sent directly to the Investor and his/her spouse. Any underage children will then be able to register to receive their own passports, 1-2 weeks after their parents. Adult children and the Investor’s parents must submit the same documents as the main applicant, and can expect to receive their passports within six months’ time.
The most popular types of investment options are in residential and commercial real estate
Residential Real Estate
of €2 million (excluding VAT)
Commercial Real Estate
€2 million (excluding VAT)
Acquisition of residential property worth of €500 thousand (excluding VAT)
The return on investment depends on the type of property the Investor decides to invest in. There are three main types of real estate in Cyprus:
Price per m2: from €10,000
Capital gains: up to 10%
Rental profitability: 3.0%
Price per m2: from €5,000
Capital gains: up to 20%
Rental profitability: 4.5%
Price per m2: from €3.000
Capital gains: up to 10%
Rental profitability: 4.5%
6 Reasons Why The Cyprus Property Market Is Growing and Will Continue to Grow
In 2013, large gas fields were discovered in the exclusive economic zone of Cyprus, the volume of which amounts to 300% (proven reserves) up to 3000% (forecast) of Cyprus GDP. The industrial gas production is set to begin in 2022.
The construction of the largest casino resort in the EU will attract an additional 300,000 wealthy tourists a year and create more than 4,000 new jobs.
The casino will boast 136 gaming tables and 1200 slot machines, as well as a 5 star hotel with a capacity of 500 rooms, a spa complex, conference rooms and a concert hall with 1500 seats.
This is the largest investment project ever carried out in Cyprus.
The Cyprus merchant fleet, boasting more than 1000 ocean vessels, is the eleventh largest in the world and the third in the European Union. Currently, approximately 4% of the world’s fleet is managed from Cyprus.
Tourism in Cyprus reaches record numbers year by year, with incoming tourists surpassing the number of the island’s local population of 1.18 million. In 2017 alone, 3.7 million people visited Cyprus, while tourism numbers for 2016 were 3.2 million, and 2.4 million in 2014.
IP Box Regime
Cyprus’ legislation for its intellectual property tax regime, known as the IP box regime, is favoured amongst IT companies worldwide, and this has attracted many foreign companies, primarily from Russia and former-Soviet countries, to set up shop on the island. With this regime, companies can save up to 80% on income tax, at a rate of 2.5% rather than the standard rate of 12.5%.
At 12.5%, Cyprus boasts one of the lowest income tax rates in Europe. Additionally, with the introduction of the ‘non-domiciled tax resident’ status, foreign nationals who spend at least 60 days per year in Cyprus will not need to pay taxes on dividends and interest on deposits earned in Cyprus and abroad, provided that they are not tax residents in another jurisdiction. This rule is valid for 17 years after the individual’s relocation.
Cyprus also has zero inheritance and immovable property tax.
As a long-time investor living in Malta, I had made several large investments on the island, where I had resided with my family for 9 years. During this time, I applied for citizenship and was confident that this would be granted, given my time spent there and the money I had invested. However, my application was rejected with no further explanation, though I later deduced that this was likely due to the fact that I have seven children. I then came into contact with CDA Group, who helped me through the application process for the Cyprus Investment Programme. I feared that this would be complicated, as citizenship is granted to dependents up to the age of 28, and my eldest daughter was turning 28 during the time I was applying for citizenship in Malta. Nevertheless, everything went through without a single delay or hitch, and all of my children were granted citizenship, including my eldest daughter, thanks to the exceptional grace and humanity shown by the Republic of Cyprus. We couldn’t be happier!
I came to CDA Group seeking an investment in order to participate in the Cyprus Investment Programme. Though I was happy with their recommendations for the property for which I was to spend the requisite €2 million, I was rather sceptical regarding the prospects of Cyprus real estate. Nevertheless, I went through with the application and would have been satisfied if I lost no more than 25% of the initial property value. Then, just one and a half years later, I received an offer to sell my property for 27% more than what I had paid for it. With that, my views on the Cyprus property market changed drastically, and I have held off selling in the hope that I will be able to get an even greater return on investment in the future.
As a Saudi national, I come from a nation where polygamous marriages are officially recognized under Islamic Sharia law. I had hoped that upon participation in the Cyprus Investment Programme, I would be able to secure citizenship for all 3 of my wives. However, the team at CDA Group explained that this is not possible, as Cyprus does not recognize polygamous marriages. Nevertheless, they worked hard to secure citizenship for myself and one of my wives, and the remaining two were able to obtain a residency permit.
Upon my participation in the Cyprus Investment Programme, I wanted to ensure that my underage children from my previous marriage would also be able to obtain citizenship and so, I sought the advice of the team of professionals at CDA Group. They advised my former wife to provide a written declaration in which she states that she does not object to our children acquiring Cypriot citizenship. I did as they suggested and was able to secure citizenship for all of them without any problem whatsoever.
Under the terms of the Cyprus Investment Programme, only adult children who are financially dependent on their parents are eligible to receive citizenship. I was thus concerned that my adult son, who is under the age of 28 but married, would be approved. As per the advice of the CDA Group, however, we provided a bank statement which made clear that my son’s only source of income was the amount I would transfer to him on a monthly basis. This, along with the certificate that confirmed his status as a student, allowed for him to be granted citizenship without any problems whatsoever.
Throughout the process of investing and applying to the Cyprus Investment Programme, I always had a small sliver of doubt as to whether this passport would, indeed give me all the rights of an EU citizen. I therefore set a plan into motion. Upon receiving my passport, I requested that the driver (who was helpfully provided by the team of professionals at the CDA Group) take me to the airport. I must have caused the team some puzzlement when they realized that I had left all my belongings in Cyprus. Once at the airport, I bought a ticket to the closest EU city, Athens. I flew there, and immediately flew back using my new, EU passport. I wanted to make sure that my new citizenship truly was a door to Europe, and I must admit that this impromptu trip put my mind fully at ease.
No, there is no requirement for applicants to live in Cyprus prior to the application process.
No, there is no requirement for applicants to live in Cyprus during or after to the application process.
What taxes will investors need to pay upon obtaining Cyprus citizenship? Do these include income taxes on income received from sources abroad?
A non-domiciled tax resident of Cyprus is a citizen who is not a resident of Cyprus by origin and who has not been a Cyprus tax resident for 17 years or more over the past 20 consecutive years.
Accordingly, if such citizen decided at any time to change his tax residency to Cyprus, which requires a stay of at least 183 days on the island (this is the only criterion under Cyprus legislation), then for the next 17 years he will automatically be considered a non-domiciled resident of the Republic of Cyprus.
If the citizen has been a tax resident of Cyprus for a number of years, he will then cease to be a non-domicile and shall become a usual domicile tax resident as soon as he completes 17 years of tax residency in Cyprus over a period of 20 years.
A non-domicile tax resident is exempt from paying dividend tax (17%), passive income tax on property lease (3%), and interest on bank deposits (30%) worldwide, including Cyprus. These three taxes cumulatively comprise the Special Tax Contribution for Defence Purposes, from which the non-domiciled tax resident is fully exempted. Please also note, that the income from property leases is also subject to income tax for individuals in Cyprus.
Any existing property owned by the investor may be considered as part of the investment for the Cyprus Investment Programme, provided that it was bought no earlier than three years prior to applying to the programme.
All investments have a minimum duration of three years. After this time period, investors are free to resell the property, and receive an even higher return on their initial investment. No money is lost at any point during the process.
Will I lose my initial citizenship once I acquire Cyprus citizenship through the Cyprus Investment Programme?
No. Cyprus legislation allows you to acquire citizenship of the Republic of Cyprus as a second citizenship.