Cyprus

BENEFITS OF CYPRUS’ INVESTMENT PROGRAM

By joining Cyprus’ Investment Program, investors become eligible for a Cypriot citizenship. This in turn, due to Cyprus being a member state of the European Union, entitles one to move, study and work anywhere within the EU. It also allows travel to 158 countries visa-free. The program is flexible as well, in that it doesn’t require one to move and live in Cyprus . They are given with the freedom to relocate at any time, whenever ready.

Possessing a second citizenship, and especially a European one, offers a valuable sense of independence and flexibility. With a Cypriot citizenship, one is given with the option to permanently reside or retire in one of the world’s safest countries.

EXCLUSIVE SKYPRIME PRIVILEGES

SkyPrime, with its vast experience, facilitates the entire process for investors by offering:

• Complete communication with investor as well as all the parties involved

• Large portfolio of elite developments in prime locations with the highest investment value to choose from

• Informed and professional advice regarding the best investment strategy

• Trusted securing of said investments after decision

• Full, seamless and convenient handling of the investment and citizenship/residency processes

• Property management after purchasing including renting and remitting of rent proceeds to the investor

CYPRUS INVESTMENT PROGRAM GUIDE

The Cyprus Investment Program grants Cypriot citizenship to qualified and approved applicants who invest a minimum of €2 million in the country. Applicants gain the right to live, work and study in all 28 EU member states.

Investment could be Real Estate, Infrastructure Projects, Participation in Cypriot businesses and companies as well as Alternative Investment Funds (AIF) established in the Republic of Cyprus, licensed by the SEC and supervised by it.

CYPRUS INVESTMENT PROGRAM CRITERIA

The applicant must have a clean criminal record. Furthermore, the applicant’s name must not be included in the list of persons whose property within the European Union has been frozen.

In all cases, the applicant must hold a permanent, privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500,000.

Some of the required documentation includes:

– Marriage Certificate

– Birth certificate

– Valid passport

FAQS

The process of becoming a Cypriot Citizen usually takes 6 months from the day that the application was successfully submitted.

Taxation in Cyprus is based on residency. Resident status applies to anyone who spends at least 183 days of any given fiscal year in Cyprus. A non-resident, someone who spends less than 183 days a year in Cyprus, has no tax obligations.
For the investor, the investor’s spouse, and any adult children, the following fees apply; per person:
• €500 for the permanent residency application + €70 for the issuance of the Permanent Residence card
• €2,000 when the application is submitted
• €5,000 for the issuance of the Naturalization Certificate. For the investor’s children under the age of 18 the following fees apply; per person:
• €80 when the application is submitted.
The investment can be made through a company, provided that the applicant can submit evidence of his/her participation in the company or fund or foundation.
The applicant must have concluded the necessary investments during the three years preceding the date of the application and must retain these investments for a period of at least three years from the date of the naturalization.
Companies or businesses are considered to have a tangible presence in Cyprus if they maintain offices in Cyprus.
If the provided documents are fake and/or expired and/or not properly notarized from relevant authorities. For example, the Clean Criminal Record should be issued at least within three months before the submission of the application of the applicant.
Yes. The investor may sell the privately owned residence and buy a different residence, provided its purchase value is equal or higher to the first one.
The spouse and financially dependent children of the non-Cypriot investor have the right to apply for citizenship with the investor. Children under the age of 18 are considered as dependents of the investor and have the right to acquire citizenship according to the provisions of section 110 (3) of the Civil Registry Law.
Applicants are required to cover the whole amount required before the submission of their citizenship application, as the application must be accompanied with receipt of payment towards the investment.
However, note that upon the receipt of funds in the property seller’s bank account, the funds will be locked through a side agreement and will only be released to the seller once the applicant receives a citizenship approval letter. In case the application is denied, the funds will returned back to the applicant’s account.