Cyprus
Cyprus, located in the Mediterranean and known as the third-largest island in the region, is a renowned European vacation destination. Boasting pristine waters, stunning coastlines, and a reputation as one of the world’s most liveable countries, it has historically attracted the global elite. While Cyprus is not yet a member of the Schengen Area, it offers visa-free access to over 170 countries, including most Schengen nations, making it a hotspot for immigrants and investors alike.
Cyprus Golden Visa
The Cyprus Golden Visa program allows non-EU nationals to obtain long-term residency through a minimum investment of €300,000 in real estate, company shares, or investment funds. With no age or education restrictions, applicants can apply for Cypriot citizenship after seven years of residency. For individuals seeking immediate residency with relatively low investment requirements, the Cyprus Golden Visa is an attractive option.
Eligibility Criteria
Age and Criminal Record: Applicants must be at least 18 years old and have no criminal record.
Annual Income: The principal applicant must demonstrate an annual income of at least €50,000, which can include salaries, pensions, stock dividends, or rental income. Additional income requirements apply for dependents (€15,000 for a spouse and €10,000 per child).
Dependent Eligibility: Parents of the applicant or their spouse cannot apply as dependents.
Employment Restriction: Applicants are not permitted to work in Cyprus.
Residency Requirement: Although permanent residency does not require full-time residence in Cyprus, applicants must visit at least once every two years to maintain their status.
Investment Options
The Cyprus Golden Visa program offers multiple investment pathways, allowing applicants to choose the option that best suits their circumstances:
Real Estate:
A minimum investment of €300,000 (excluding VAT) in one or two properties.
Properties can be residential or commercial, including apartments, houses, or other types of real estate.
Only new properties or first-time transactions are eligible.
Company Shares:
A minimum investment of €300,000 in shares of a Cyprus-registered company.
The company must have substantial operations and employ at least five people.
Investment Funds:
A minimum investment of €300,000 in collective investment funds regulated by Cypriot authorities, such as Alternative Investment Funds (AIF) or Registered Alternative Investment Funds (RAIF).
The investment must be held for at least two years.
Cyprus Citizenship Program
For those with a higher budget and a desire for EU citizenship, Cyprus offers a citizenship-by-investment program. It is one of the few golden visa programs globally that provides a direct pathway to citizenship through real estate investments. The program is ideal for affluent investors looking to become EU citizens in the shortest possible time without extended residency requirements.
Real Estate Investment:
Invest €2 million in one or more residential properties and hold the investment for at least three years.
After three years, the primary residence worth at least €500,000 must be retained to maintain the Cypriot passport.
Government Donation:
Contribute €150,000 to designated government organizations, including €75,000 to the Research and Innovation Foundation and €75,000 to the Cyprus Land Development Corporation.
Timeline:
Citizenship can be granted within six months, making it one of the fastest routes to EU citizenship.