Q & A

Cyprus Citizenship by Investment

Q & A
Q
What is the Cyprus Citizenship by Investment Program?

A

It is a program, whereby high net worth individuals, investors or entrepreneurs can acquire Cyprus & European Union (EU) citizenship in a short period of time by making an investment in designated instruments.


Q
Can family members also apply for the Cyprus Citizenship Program?

A

The following family members are eligible to apply along with the main applicant :

  • Spouse
  • Child upto the age of 18
  • Children between 18-28, provided they are financially dependant & are students
  • Parents of the main applicant


Q
What is the quantum of investment that an applicant & eligible family members have to make in order to qualify for the Cyprus Citizenship Program?

A

The main applicant has to invest € 2,000,000 in any one or combination of following instruments :

  • Cyprus real estate
  • Cyprus company
  • Alternative Investment Funds (AIF) of a Cyprus company
  • Government Bonds
    An additional investment of € 500,000 will have to be made if parents of the main applicant are also applying.


Q
What is the period for which the investment of € 2,000,000 has to be maintained?

A

Five years. However, you will have to maintain a minimum investment of € 500,000 in Cyprus residential property for life.


Q
What is the general time period for the processing of a Citizenship by Investment application?

A

The following are the time periods for eligible family members :

  • Main Applicant & Spouse – 6 months
  • Minor children – 7 months
  • Adult children & parents – 12 months


Q
How many times does the applicant & eligible family members need to visit Cyprus during the application process?

A

Only once


Q
Are there any educational qualification, work experience or language proficiency requirements?

A

No


Q
Are there any residency requirements?

A

No. You are not required to reside in Cyprus before or after obtaining the passport.


Q
Does Cyprus allow dual citizenship?

A

Yes


Q
How many countries can you travel visa-free with a Cyprus passport?

A

157


Q
Can I make a Cyprus Citizenship application on my own?

A

No. An application for Cyprus Citizenship must be made only by an authorized representative of the Cyprus government.


Q
Is there any due diligence carried out on the main applicant & dependants?

A

Yes. Due Diligence is carried out by both us at Migratesmart® and by the government of Cyprus. The period of due diligence depends on the circumstances of each client.


Q
How can Migratesmart® help us?

A

Our partnerships with leading & highly reputed law firms in all countries that we operate in, or provide services for, enables us to provide end-to-end solutions & services to our clients. We can take care of every aspect of your Cyprus Immigration Investment & Citizenship process, and ensure you derive maximum benefit from our expert knowledge & advice.