Terms and Conditions

Cyprus Citizenship > Terms and Conditions

CYPRUS CITIZENSHIP TERMS & CONDITIONS

1. Clean Criminal Records

The applicant must have a clean criminal record. The applicant’s name cannot be included in the list of persons whose assets have been frozen as a result of sanctions within the European Union.

2. Residence in the Republic of Cyprus

 In all schemes listed in Part A, the applicant must own a permanent, privately-owned residence in the Republic of Cyprus with the purchase price of the property being at least €500,000 (plus V.A.T.).

Members of the same family, who submit a separate application as investors, can collectively obtain the residency if the total value of the property purchased will be is equal to €500,000 per applicant.

If the purchase value of the permanent, privately-owned residence is greater than €500,000, then part of this additional sum can be used for supplementing the total amount of the investment as per the criteria of Part A.

Further, if the applicant has invested in real estate, land development and infrastructure projects as per criteria A.1, then it will not be necessary to purchase another permanent residence in Cyprus if one of the housing units purchased is worth not less than €500,000 (plus VAT) on the condition that the applicant holds this residence indefinitely.

4. Residence Permit in Cyprus

Prior to the submission of the application for Naturalization as a Cypriot Citizen, the applicant must hold a valid residence permit in Cyprus. If the applicant does not already hold a residence permit, then he/she can apply for an Immigration Permit as per Regulation 6 (2) of the Aliens and Immigration Law, at the same time as submission of application for Naturalization. If the application for obtaining an immigration permit is made only for the purpose of obtaining Cypriot citizenship in accordance with the provisions of this Scheme, then there are no other conditions other than those stated in Part A and Part B. This applies to all adult members of the member of the Investor’s family who will apply for Naturalization.

Note that if for whatever reason the application for Naturalization is rejected, then the Immigration Permit obtained in accordance with the provisions of this Scheme will also be revoked.

5. Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation

This requirement consists of 2 parts; (a) and (b). Both requirements need to be fulfilled.

(a) The applicant must have donated at least €75.000 to the Research and Innovation Foundation; or a certified innovative enterprise which has acquired the relevant certificate by the Ministry of Finance, or a certified social enterprise.

It is noted that if the applicant wishes to donate an amount higher than the minimum of €75.000, this additional amount can be used for purposes of supplementing the total amount of the investment made on the basis of the criteria A.1-A.4.

Furthermore, the aforementioned obligation is lifted, if the applicant has invested at least €75.000in a certified innovative enterprise (i.e. an enterprise that had acquired the relevant certificate by the Ministry of Finance) or a certified social enterprise.
In addition, the obligation is lifted, if the applicant has made an investment under the criterion

A.2(Purchase or Establishment or Participation in Cypriot Companies or Businesses) of a total amount equal to the 20% of the required investment amount (i.e. €400.000) of the above mentioned criterion A.2 in a company whose operations fall within the primary sector of the economy, or the secondary sector of the economy (excluding constructions), or in the sectors of research and development, education, health and renewable energy sources.

(b) The applicant must have donated at least €75.000 to the Cyprus Land Development Corporation for the financing of housing schemes for affordable housing, but also for the materialization of other housing schemes/measures.
It is noted that if the applicant wishes to donate an amount higher than the minimum of €75.000, this additional amount can be used for the purposes of supplementing the total amount of the investment made on the basis of the criteria A.1-A.4.

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