With over 10,000 years of history, 320 days of annual sunshine and a unique location at the crossroads of 3 continents, it’s not difficult to see why Cyprus is a popular base for the business community and their families. Nestled between Europe, Africa and Asia, this Mediterranean island is a member of the European Union and a hotspot for tourism with a wealth of historical and archaeological sites, Blue Flag beaches, extensive forests and nature trails, executive hotels, spas and golf courses, wineries, watersports and luxurious yachts.
Whilst tourism is a major income source for the island, the region also benefits from a variety of other business opportunities and investments. Encouraged by favourably low taxes these include agriculture, shipping and marinas, property development, tax and finance, and more recently, ventures into the gas, oil and photovoltaic industries.
A purchase of a new or resale residential property with a purchase price of at least 500,000 EUR which will be the Applicant’s principle private residence.
A) An investment of at least 2,000,000 EUR in real estate, land development and infrastructure projects.
(NB, if this option is chosen, an additional permanent residence does not need to be purchased provided at least one of the units is valued at 500,000 EUR and the residence is retained for life.)
B) An investment of at least 2,000,000 EUR in the purchase, establishment or participation of Cypriot companies or businesses; or Cypriot investment funds and the stock exchange
C) A combination of A and B above
D) An additional investment of 1,500,000 EUR in real estate
A donation of 150,000 EUR is required, of which 50% will go towards the Research and Innovation Fund, and the other 50% towards the Cyprus Land Development Corporation
The investment vehicle must be retained for five years from the issuance of Citizenship.
Ownership of a residential property with a value of 500,000 EUR must be kept indefinitely - although this does not need to be the property originally purchased, and it can be rented to third parties under certain conditions.