Why use Sold on Cyprus for all your Immigration requirements?
We are an Independent licensed agent who can offer a variety of products that qualify for the Cyprus Investment Programs for Citizenship and Residency.
It is important to assess your criteria and your requirements to find the right Investments. Our legal team will help with the financial and application requirements , helping to get the required documents together and the bank requirements for funds. Cyprus has the most straightforward application requirements in Europe.
Cyprus is the third largest island in the Mediterranean Sea, and has been a member state of the European Union since 2004. It lies on both North-South and East-West axis of movement, at the crossroads of the three major continents of Europe, Asia and Africa.
The strategic location of the island engenders its trade and tourism industry, whilst it develops and maintains a dynamic and stable economy with the lowest tax regime in the EU, thus creating an attractive, reliable and investor-friendly environment, with a plethora of investment opportunities.
The 340 days of sunshine, mild winters, luscious Mediterranean cuisine, traditional products, but most of all the warm, hospitable and welcoming people, makes Cyprus a complete value destination.
Famous for its longevity, it has been ranked, by the world health organization, as one of the world’s top ten safest and best destinations to travel and relocate.
Cyprus Investment Programme is available to investors in Cyprus by Exception pursuant to the Decision of the Council of Ministers dated 13th September 2016 issued as per Article 111A(2) of the Civil Registry Law 2002-2013, of the Republic of Cyprus.
These recent revisions have made the Cyprus Investment Program more beneficial for investors and families. In virtue of this Law, the Cyprus Council of Ministers may grant citizenship by naturalization to foreign entrepreneurs. Additionally, the Law provides for the granting of the Cypriot citizenship by investment to the spouse, children as well as parents of the investor. Neither the spouse nor the children are obliged to meet any additional financial criteria.
Updated terms released August 2020
Benefits of Cyprus Citizenship
Being a Cypriot citizen is an advantage which entails a plethora of benefits also deriving from the Membership of the Republic of Cyprus in the European Union.
The benefits of acquiring a Cyprus Citizenship include:
- Having the right to live and work in countries within the European Union (EU).
- Getting protection by the authorities of any EU country.
- Having the right to vote and stand in European Parliament elections.
- Being able to freely move goods, services and capital.
- Visa-free travel to over 158 countries including the EU and Canada.
- Transferable citizenship to descendants which means, being able to pass down the citizenship to future generations.
- Being able to keep your previous nationality as Cyprus allows dual citizenship.
- Cyprus Citizenship by Investment can be obtained in a span of 3-6 months.
- Once a joint application for residency and citizenship by investment is submitted, it takes only 7 days for the Cyprus Residence Permit to be issued.
- No minimum residency requirements before obtaining citizenship.
- Cyprus has renowned universities that offer tuition-free education to its citizens. These benefits can be extended to other EU universities with similar options.
- Degrees diplomas or certificates awarded in Cyprus are recognized in all EU countries and vice versa.
- The public healthcare system, managed by the Ministry of Health and financed by taxes, is free for citizens.
- Permanent Residents in Cyprus receive a state medical card when they register for social insurance; this card grants them the privilege of getting care and treatment for free or subsidized costs.
- Obtaining a Cyprus citizenship opens the door to numerous career opportunities. Because Cyprus' citizens can freely move within the EU nations and get employment without limitations.
- The right to live, work and study in all 28 EU countries.
ELIGIBILITY FOR THE CYPRUS INVESTMENT PROGRAMME
To qualify under the regulations, the main applicant for citizenship must be at least 18 years of age and must meet the requirements outlined in this factsheet.
DEPENDANTS AND PARENTS ARE ELIGIBLE
The main applicant may also add dependents to a citizenship application including his/her spouse and children, as well as parents to benefit under the Cyprus Citizenship by Investment Programme.
'Children' includes those up to the age of 18 and children from the ages of 18-28 if they are financially dependent on the main applicant.(If they are married, they do not qualify under the parents application) Additionally, an investors' child with severe physical or mental disability that makes him or her unable to work is also considered as financially dependent.
Parents of the main applicant may be included in the same application provided an additional €1,000,000 investment is made in residential property in Cyprus.
FEES AND KEY REQUIREMENTS
Purchase main residence: € 500,000 & a 200,000 Euros donation to the Cyprus Government.
Invest a minimum of €1.5m in residential property or €2m in other investment options. Investment in property can be reduced to a minimum of €500,000, (plus VAT, if applicable), after 5 years.
These include investments in financial assets of Cypriot companies/ organizations, investment in Alternative Investment Funds or financial assets of Cypriot companies licensed by the Cyprus Securities and Exchange Commission (CySec) or a combination amounting to €2m.
Investor's name must not be included on the list of persons whose property is ordered to be frozen by the EU.
Schengen Visa required.
3 WEEKS: INVESTMENTS & PREPARATION
- Investment minimum €1.5 million
- Purchase main residence; €500,000
- Prepare Residency (if applic.) & Citizenship Application File
- Prepare supporting documents
6 MONTHS: (FAST-TRACK) PROCESSING TIME
The Ministry of Interior conducts due diligence & issues confirmation of submission of application for CIP In Principle Approval for the citizenship application is granted within 6 months. Within 3-4 days the Naturalization Certificates are issued and passport application is submitted. 3-4 DAYS: Certificate of Naturalization Passport.