As of 1st November 2020, the Cyprus Investment Programme is closed until further notice. Contact us for further information.
More than half the total number of global citizenship applications relate to citizenship programmes in Europe, which in turn has long established itself as the most sought-after region in terms of high net worth immigration. The Cyprus Investment Programme has been ranked as one of the 'top ten in the world', with hundreds of Cyprus investment applications being received by the Cypriot authorities every year.
Cyprus has become one of the most popular European destinations, being ranked the 5th best relocation destination in the world for its extensive advantages for entrepreneurs and families alike. Cyprus enjoys a highly attractive tax regime, and it is a safe and secure relocation destination for families, retirees as well as businesses - and in this respect, the majority of Cyprus investment applications are attributed to businessmen and investors.
To be able to apply for the Cyprus Investment Programme, one must acquire a €1.5 million in real estate or acquire €2 million in other investment options. Besides the financial criteria, in a selected option and purchase a residence in Cyprus, one must provide a clean criminal record and supporting documents outlining the source and origin of the declared funds. Furthermore, the Cypriot authorities ensure that the applicant's name is not included in the list of persons whose property is ordered to be frozen.
Cyprus Investment applications are vetted and approved by the Cypriot government, through a relatively straightforward process where an application is fully approved within 6 months of engagement with an accredited agent. The process initiates through the acquisition of investment and property and then followed by the preparation of an application file. Within 3 months of submitting an application to the Cypriot authorities, an applicant is invited to take the Oath of Allegiance and the Naturalisation certificate is subsequently issued.
At Chetcuti Cauchi Advocates, we deal with Cyprus Investment applications on a daily basis, and we are well positioned to assist you throughout the process. Our Cyprus Investment Practice Group are able to offer advice on investment options, as well as, provide expertise on real estate – ensuring that you get the best value for money.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.