Eligibility
The following non-Cypriot natural persons who meet one of the set financial criteria provided below, are eligible to apply for the acquisition of Cypriot citizenship:
- Individuals, either personally or through a company in which they are participating as shareholders, in proportion to their holding percentage.
- Individuals through investments made by their spouse or jointly with the spouse.
- High-ranking senior manager of a company that meets one of the financial criteria below (provided that they receive a remuneration that generates paid tax revenues of at least €100.000 over three years).
Financial Criteria
Eligible persons who meet one of the following financial criteria may apply for the acquisition of the Cypriot Citizenship:
- Investment in real estate, land development and infrastructure projects of at least €2 million.
- Investment in financial assets of Cypriot companies or organizations of at least €2 million.
- Investment in Alternative Investment Funds or financial assets of Cypriot companies/organizations that are licensed by the Cyprus Securities and Exchange Commission of at least €2 million.
- Combination of the above criteria, which can also include investment in government bonds of up to €500.000.
Other Terms and Conditions
Prior to the naturalization, investors must hold a residence permit in Cyprus. If not, the application for a residence permit can be submitted simultaneously with the application for the naturalization.
In addition to the above investment requirements:
- An investor must also own a permanent privately-owned residence in Cyprus of at least €500.000 (+VAT).
- If the investment is made into residential properties, as per the first financial criterion, this requirement is not applicable, if at least one of the units is worth at least the threshold amount.
- €500.000 (+VAT), provided that the applicant retains the possession of the residence for life.
- The investment in government bonds is restricted to €500.000.
- There is no requirement of residing in Cyprus after acquiring citizenship.
Family Members
- Spouse/partner: The investor’s spouse or partner may acquire the Cypriot Citizenship. Their application may be filed simultaneously.
- Minor children: Dependent children up to the age of 18 may apply, after the investor acquires the Cypriot Citizenship and provided that the other parent consents to the grant of the citizenship.
- Adult financially dependent children: the right to apply for citizenship is also granted to the financially dependent adult children of the investor belonging to one of the following two categories (i) students up to the age of 28; and (ii) children with severe physical/mental disability that prohibits employment.
- Parents: The investor’s parents may also apply for citizenship after the investor has acquired his/her citizenship, provided that they are owners of a private residence of at least €500.000 (+VAT). The investor and his/her parents may collectively acquire one residential property of a total value of at least €1m (+VAT).
Tax System
Cyprus offers an attractive and transparent tax regime, fully compliant with EU, OECD and international laws and regulations. Access includes an extensive network of more than 60 Double Tax Treaties and maintains a corporate tax rate of 12.5%, one of the lowest in the EU.
Main features include:
- Dividend participation exemption
- Exemption on disposal of securities (e.g. shares, bonds, debentures)
- No succession taxes
- No withholding taxes
- Attractive IP regime
- Tonnage tax for shipping companies
Significant exemptions for non-domiciled individuals:
- No tax on dividends and interest
- 50% exemption on income from employment in Cyprus of a person who was not previously resident in Cyprus. The exemption applies for ten years, provided that the income from employment in Cyprus exceeds €100.000 per annum.