Benefits

EU citizenship

Cyprus is one of just three EU states which allow citizenship by investment. Cyprus’s investment program is also one of the most efficient in the world, with a fast-tracked approval time frame of just six months. Cyprus permits dual citizenship, so you can still use your home country’s passport whenever you wish. Your home country will not be informed of your Cypriot citizenship.

International mobility

A Cypriot passport entitles the holder to visa-free travel in 172 countries, including the Schengen Area, Hong Kong, Singapore, and Canada. There are no physical residency requirements, meaning applicants are not required to spend any period of time in Cyprus. Investors can include their spouse, parents, and children (under the age of 28) in their application, giving all family members access to these benefits.

Business advantages

Cyprus has 0% inheritance, wealth, and gift tax, as well as 0% tax on widows’ pensions. Its corporate tax is one of the lowest in Europe at 12.5%, and non-domiciled residents have several tax exemptions on their Cyprus and international income. As an EU member, Cyprus also gives investors better access to other EU-based markets. There is also potential for an investor to make a profit on their residency-required investments.

 

Investment Options

In order to secure a Cypriot passport, applicants must invest a minimum of €2 million in local real estate. This investment can be spread over any number of properties, and the chosen properties can be residential or commercial. After five years, the investor can sell off properties until their total investment is €500,000. This €500,000 investment must be maintained in order for the investor to retain their citizenship. In addition to the above investment, donation of €75,000 to the Cyprus Land Development Corporation & donation of € 75,000 to the Research & Innovation Foundation is to be contributed following application approval.

Steps and Procedures

1. The client signs a retainer agreement stating that Charterhouse Lombard will act as their advisor for the application, due diligence, and legal processes.

2. A date is selected for the client to travel to Cyprus to complete a property tour.

3. The client reviews the properties and conducts due diligence on the developers. If satisfied, the client selects a property (or properties) to a minimum value of €2,000,000.

4. The deposit is paid and the contracts are signed.

5. The client transfers the property payment sum into an approved escrow upon government citizenship approval or rejection. This process involves three months of background security checks and the sum is 100% refunded if the application is unsuccessful.

6. An application for Permanent Residence & Citizenship (M127) is submitted with supporting documentation.

7. Permanent residency is issued 3-4 weeks after property purchase.

8. Citizenship approval takes place within 10 weeks.

9. Passport is issued after a further 14-16 weeks (6 months after PR card is issued).

10. After 3 years, the client may sell any property they have purchased as long as they maintain a total property worth of at least €500,000 on the island indefinitely.