Cyprus is ranked as the 5th best relocation destination in the world, according to ranking by an international lifestyle review, and has attracted its fair share of individuals wanting to acquire Cypriot citizenship, particularly HNW and professional individuals, especially through its favourable tax regime for new residents.
Benefits of obtaining Cyprus citizenship:
• Travel to 157+ countries without a visa.
• Same rights as European Citizens.
• Take advantage of Cyprus multiple citizenship possibility.
• Travel, live, work and study anywhere in the European Union or Iceland, Liechtenstein and Switzerland.
• Citizenship for the whole family.
• Free movement of capital, services and goods.
• Insurance against political instability.
• Zero inheritance tax.
• Possibility to rent out the privately-owned residence.
• Access to high quality healthcare institutions.
• The eligible investment is not limited to properties purchased for the first time.
Applicants must be holders of a residence permit in Cyprus to qualify for receiving the Cypriot Citizenship. For this purpose, applications for residence permits should be submitted to the Authorities, which will be issued simultaneously with the filing of the Citizenship application.
Citizenship to parents of the applicant
An investor’s parents are now entitled to apply for Cyprus citizenship provided that they own a permanent residence worth at least €500,000.
Alternatively, the investor and parents acquire one residential property with a total value of minimum €1,000,000.
Terms and Conditions
• Clean Criminal Record
The applicant should have a clean criminal record.
• Residential Property
The applicant should own a residential property of at least €500,000 + VAT which can be included in a portfolio worth €2M
• Residency in Cyprus
The applicant, before the naturalization as Cypriot Citizen, must hold a residency permit in Cyprus.