Acquisition of Cyprus citizenship (naturalization by exception) by investment

Author: N. Pirilides & Associates LLC
Date:2016-12-12
Cyprus citizenship_Pirilides

The Cyprus Council of Ministers has revised and approved the “Scheme for naturalization of Investors in Cyprus by exception” in order to attract foreign investment in Cyprus.

 

A foreigner, who fulfils one of the following economic criteria, either personally or through a company/ies, in which he participates as a shareholder or even as a high-ranked senior manager of a company/ies may apply for the acquisition of Cypriot citizenship through naturalization by exception.  A high-ranked senior manager may apply, provided that he receives such a salary that generates for the Republic tax revenue of at least €100,000 for a 3 year period and provided that this tax has already been paid or prepaid.  

 

The applicant must have concluded the necessary investment during the 3 years preceding the submission date of the application (that is to say that if the applicant submits an application in 2016, the investment must have been concluded during 2013-2016) and must retain this for a period of at least 3 years from the date of the naturalization.

 

The application process (from the date of filing the application till the acquisition of citizenship) usually takes 4-6 months to complete.

 

Criteria


 

Terms and Conditions

  1. Clean criminal record,
  2. Ownership of a permanent privately-owned residence in Cyprus,
  3. Residence in the Republic od Cyprus.
     

Individual investors wishing to apply for Cyprus citizenship using the above criteria and/or for any enquiries and questions, please contact us at info@pirilides.com and we will be happy to assist.

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