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FAQ on the Citizenship by Investment Program in Cyprus

FAQ on the Citizenship by Investment Program in Cyprus

Updated on Friday 14th July 2017

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FAQ-on-the-Citizenship-by-Investment-Program-in-CyprusForeign citizens moving to Cyprus have various programs they can apply for and obtain a Cyprus passport. Among these is also the Cyprus Citizenship by Investment Program which is one of the most reliable schemes for relocating to another country in the European Union. The interest for this program has increased quite a lot during the last few years which is why our attorneys in Cyprus receive a lot of questions about it. Below you can find the answers to the most frequently asked questions about the Cyprus Citizenship by Investment Program.

1.Can I apply for the Citizenship by Investment Program in Cyprus if I already have a residence permit?

Yes, the Citizenship by Investment Program is also open to foreign citizens living in Cyprus based on a residence permit. Those who hold a work permit can also apply for this scheme.

2.What if II don’t have a residence permit? Can I still apply for this program?

Yes, you can obtain a Cyprus passport by investment even if you don’t have a residence permit. In this case, the two application procedures will be completed simultaneously.

3.What is the amount of money I need if I apply for the Citizenship by Investment Program in Cyprus?

The minimum amount of money you need to obtain a Cyprus citizenship by investment is 2 million euros. This amount includes all types of investments made under the Cyprus Citizenship by Investment Program.

4.Are there any special requirements for citizens from countries located outside the European Union?

No, there are no special requirements for non-EU citizens, as the program was mainly designed for them. If you are a non-EU citizen you will benefit from the same conditions as individuals coming from EU states.

5.Can I open a company if I come to Cyprus through the Citizenship by Investment Program?

Yes, you can. In fact, opening a company in Cyprus is one of the ways to move here through the Cyprus Citizenship by Investment Scheme. Our law firm in Cyprus can assist with the registration procedure of your company.

6.What are the requirements for opening a company in Cyprus under this program?

If you decide to obtain a Cyprus passport by investment and choose to open a company here, you must hire at least 5 Cypriot or EU citizens, apart from the minimum share capital requirements. The other requirements can be explained by our lawyers in Cyprus.

7.Can I bring my family if I use this scheme to move to Cyprus?

Yes, you can also bring family members here if you apply for citizenship by investment in Cyprus. Among family members you can bring are your spouse, children, parents and parents-in-law.

8.Can I buy a house if I relocate through the Cyprus Citizenship by Investment Scheme?

You can also buy real estate if you apply for a Cyprus passport by investment. By real estate we mean property, land plots or even commercial buildings, as long as the its minimum value is 2 million euros.

9.Are there any other ways to obtain a Cyprus passport other than opening a company or buying a property?

The third way to obtain a Cyprus citizenship by in investment is by purchasing stock in investment funds in Cyprus. These funds must be licensed by the Financial Supervisory Authority. You can also buy shares in local companies. Our Cypriot lawyers can offer more information on these two options.

10.Once I get into the Cyprus Citizenship by Investment Program are there any other requirements I must comply with?

Yes, there are a few requirements to comply with once you obtained Cypriot citizenship by investment. One of these is that the investment must be maintained for a minimum period which depends on the chosen method.

If you want to apply for a Cyprus citizenship by investment and have other questions which were not answered here, please contact us.

 

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