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!
By participating in the Cyprus Investment Programme, you will forever solve the problem of boundaries and quality of life for yourself and your descendants, provide all future generations with one of the fundamental rights - freedom of movement and, most importantly, choice. Choice of a place of residence, study, work.
Terms & Costs
- Minimum investment required is EUR2 million
- 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
- It is required to visit Cyprus just once (for submission of biometric data for PR cards)
- Investors must keep their investments for a period of five years, after which they will be eligible to sell them, provided that they keep a property as personal residence worth €500,000
- Applicants are required to donate 200,000 euros on top of the investment amount
- Citizenship is obtained by the spouses, minor children (below 18) and adult financially dependent children up to the age of 28. Children have to be unmarried
- The investor and his/her spouse can also include parents in the application
- Second citizenship is permitted in Cyprus
- No tax consequences whatsoever when someone is obtaining Cyprus citizenship
Please note: Additional costs do apply.
Cyprus Investment Programme: How it Works
Investor and spouse prepare relevant documents required for the application process. These include:
- Copies of passport
- Birth certificate
- Marriage certificate
- Certificate of clean criminal record
- Copy of a utility bill as a proof of the address (not older than 6 months)
- Bank reference letter
- Individual photos
The certificate of clean criminal record should be applied for well in advance, as this takes some time to obtain. At the same time, it is not worth doing it too early, since its validity period for Cypriot authorities is 3 months.
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 be obtained from the country of their actual residence as well.
Birth certificates, marriage certificate and certificates of clean criminal record must bear an Apostille in order to verify their legitimacy.
Contact us for all the details on the required documents.
The following are the categories of applicants who do not meet the requirements of the Program and cannot obtain citizenship of Cyprus:
(a) Politically Exposed Persons (PEPs), who hold or have held public office over the past five years.
(b) Persons against whom a criminal investigation was conducted.
(c) Persons under criminal investigation.
(d) Persons sentenced to imprisonment for serious offenses (eg. bribery, tax evasion, etc.), even though the sentence period has expired.
(e) Persons affiliated with legal entities which are under restrictions by the European Union (EU), eg. shareholders or senior executives of companies that are included in a list of sanctions.
(f) Persons affiliated with legal entities which have been restricted by the European Union (EU) but are no longer associated with them, eg. former executives of the companies who, at the time the sanctions regime was introduced, controlled them. This condition does not apply to those who had resigned before the sanctions were imposed.
(g) Persons who have fallen under sanctions by third countries (eg. US, Russia, Ukraine).
(h) Persons related to legal entities who have fallen under sanctions by third countries.
(i) Persons investigated or being under investigation, or those who have been convicted for criminal offenses, including persons wanted by EUROPOL or INTERPOL.
(j) Persons who have fallen under sanctions by the United Nations Security Council (UN).
The investor then visits Cyprus in order to select a property(ies) for investment.
Cyprus Developers Alliance boasts more than 9.000 properties in its Real Estate portfolio. Our team of experienced professionals continuously analyzes 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 to the investor on which property best meets his/her specific requirements. We will then assist in setting up the investment strategy.
Once the investor has selected the most optimal property or properties, a reservation deposit (1-2% of property price) is made.
The investor signs the application for citizenship in the presence of the registrar in Cyprus court.
Also, the investor and the spouse submit their biometric data (fingerprints, photos of eyes retina) for the Cyprus residence cards.
After this, they may leave Cyprus.
Usually a reservation period for the chosen property(ies) comprises several weeks.
During this time due diligence of the property is carried out and the Sales contract is prepared.
Upon agreement of the terms, the investor signs the contract. This can either be personally done by the investor in Cyprus or by the lawyer via Power of Attorney or the agreement can be sent to the investor via express courier - whatever way is convenient for the investor.
Payment is then made and the Agreement is deposited in the government body - Land Registry Office.
All necessary documents are submitted to the Ministry of Interior, thereby the procedure for obtaining citizenship starts. The investor pays a government fee (2000 euros for each spouse. Upon citizenship approval – another 5000 euros for each).
Residency permits for investor and his(her) spouse are issued within 5 working days. These permits are valid until citizenship is granted.
Permits can be obtained by a power of attorney and sent to the investor and the spouse.
About 6 months after submission of documents to the Ministry of Interior, the investor and the spouse obtain Certificates of Naturalization. The investor pays a government fee (5000 euros per spouse).
He/she then makes a donation to the state-owned funds (200,000 euros in total).
After that, the investor and spouse receive passports. They need to fly to Cyprus or passports can be issued at certain consulates of Cyprus abroad (contact us for details).
As to ID-cards, they will be issued in 1-2 weeks. –The cards can be obtained by a power of attorney and sent to the investor and the spouse.
Then minor children obtain passports by a simple registration (1-2 weeks after the parents).
Adult children and parents of the investor submit the same documents as the investor and obtain citizenship within six months. Adult children and parents of the investor can submit documents for citizenship only after the investor has obtained it.
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?
An investor does not have any obligation to pay taxes in Cyprus, if he does not become a tax resident of Cyprus, he pays taxes in his country of tax residency.
At the same time, if an investor decides to become a tax resident of Cyprus (for this he needs to live in Cyprus just 60 days a year subject to a number of conditions), during the period of 17 years he will be exempt from paying tax on dividends and interest income earned anywhere in the world.
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.
After five years (minimum investment period), you can sell the investment property and get back your funds. The only loss - a subsidy to the state in the amount of 150 thousand euros
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.
I am not officially married to my spouse. How should we proceed so that he/she also gets the passport?
The Civil Union Law of 2015 (184(I)/2015) entered into force with the publication of the law in the Official Government Gazette on 09/12/2015. The law introduces the institution of the Civil Union in the legal system of Cyprus. The Civil Union ceremony and the issuance of the Civil Union Certificate takes place at the District Office where at least one person resides, in case the persons concerned do not permanently reside in Cyprus, at the district of their free choice.
Documents that need to be presented:
- Utility bill showing place of residence ( apostilled);
- The application ‘Form for Civil Union’ completed by both parties;
- Presentation of passport.
Affidavit (made not older than a month from the date of presentation of the which can be sworn in Cyprus or abroad at the Cyprus embassy. Each person intending to enter in the union must present A NON IMPEDIMENT CERTIFICATE (NIC) should be presented by the Director of Civil Registry of those living or residing or have residency in Cyprus for those not then those living abroad by their competent authority confirming that no marriage religious or otherwise or civil union is currently in force which concerns them. All public documents issued in any other country must be certified and apostilled or if not a signatory to the Hague Convention. This document must be translated into English or Greek.