Cyprus Citizenship Programme

Cyprus Citizenship Programme

Our property and immigration advisers would be happy to provide further information and answer any questions you may have.

BENEFITS OF CYPRUS PASSPORT

DIRECT INVESTMENT

Cyprus Citizenship shall be granted to the applicants who invest directly in Cyprus property as below.

Option 1

€2,000,000 plus VAT in Residential properties, one of which will cost €500,000 + VAT or more

Option 2

€2,000,000 plus VAT in Commercial properties or a combination of Commercial and Residential properties + Residential unit of €500,000 + VAT or more

REQUIREMENTS

  • Clean criminal record
  • Investment in real estate in Cyprus of at least €2,000,000
  • Ownership of residential property at least for €500,000 + VAT
  • Contract of Sale proving the direct investments in the real estate and the receipt of payment

Key Benefits:

  • Passports will be issued within a period 180 days. First 90 days Permanent Residency will be obtained.
  • Passports will be issued to the investor, their married spouse and dependent children up to the age of 28.
  • No requirement to physically reside in Cyprus for any given period of time.
  • It enables access to the excellent education and healthcare institutes in Cyprus and the EU.
  • Freehold residential and commercial properties with excellent rental yield.

Cyprus allows Dual Citizenship

It is very beneficial to have dual citizenship, particularly European, for many reasons including:

  • European Citizens enjoy the freedom to live, work and travel throughout Europe.
  • Cypriot passport holders are entitled to travel visa-free to more than 150 countries.
  • Cypriot passport holders can quickly and cost-effectively obtain visas for countries, such as the USA, Russia and China.

Tax Benefits

  • Applicant does not become a tax resident in Cyprus
  • Cyprus does not have Inheritance Tax
  • Cyprus enjoys one of the lowest taxation regimes in Cyprus with Corporation Tax at 12.5%
  • No tax on International Dividends

The advantages Africanos can offer Clients:

  • The Citizenship by Investment law and regulations in Cyprus requires from a single investor to invest in a residential property for their own purpose to the minimum value of €500K and invest additionally €1.5 million plus VAT and/or Transfer Tax in residential.

Steps and Procedures

  1. Our Company will issue an invitation letter and Assumption of Responsibility for Hosting document to the Cyprus Embassy or Consulate in the country where the client is residing and monitor the invitation process until visa issuance.
  2. During the clients visit he will be our Companies responsibility and will be collected from the airport, escorted on property inspection trips, accompanied on meetings with the legal department and in the evenings our Company can show the client local hospitality. The client’s visit will be scheduled until the point of their departure.
  3. After the client has chosen their desired investment properties, they will meet with the legal department for the signing of limited Power of Attorney which authorizes the lawyer to carry out the necessary Land Registry transactions and submission of the application for naturalization on behalf of the client. During this meeting the client will arrange the reservation deposit to secure their properties.
  4. Following the client’s approval (90-180 days), the applicant, his spouse and children should visit Cyprus for a maximum period of 15 days in order to get their Cyprus European Passport and Cyprus European ID.

Our property and immigration advisers would be happy to provide further information and answer any questions you may have.

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