Denizen Global

Cyprus lowers cost of acquiring Fast track Citizenship

  • December 20th, 2013
    The Cypriot government has reduced the cost of its Fast Track Citizenship program, which is known as 'economic citizenship'.

    There are now various ways to be eligible for Cypriot citizenship by making investments in Cyprus. There requirement to be resident in Cyprus to qualify is waived.

    You can now qualify for Cypriot citizenship by investing least €5 million in Cyprus.

    1. Investment in Government Bonds
    The applicant must purchase bonds of the Republic of Cyprus of at least €5 million.

    2. Real Estate
    The applicant must invest at least €5 million in real estate property or developments such as residential, commercial or infrastructure projects.

    3. Investment in Financial Assets of Cyprus Companies or Organizations
    The applicant must purchase such as bonds, securities or debentures as financial assets registered and issued in the Republic of Cyprus by Cyprus companies or organizations of at least €5 million.

    4. Bank Deposits
    This option requires the applicant or a company of which s/he is the main beneficiary, to deposit and hold a minimum fixed deposit of €5 million in a local international bank account for a minimum of three years.

    5. Purchase, Creation or Participation in Cyprus Business or Company
    The applicant must make an investment of at least €5 million in the purchase, creation or participation in Cyprus businesses or companies that are based and operate in Cyprus. These businesses or companies should have a physical presence in Cyprus and must employ at least five Cypriot citizens.

    6. Combination of the Aforementioned Criteria
    The applicant can have any combination of the above options amounting to at least € 5 million.

    The Minister of the Interior has the option of further reducing the minimum investment requirement from €5 million to €2.5 million when an investor can has invested through a Major Collective Investment group worth over €12.5 million.

    Additional requirements that should be met are the following:
    • Applicant must have a clean criminal record
    • Applicant should not have had their assets frozen by the EU at any point
    • Applicant must purchase a primary residence in Cyprus worth €500,000 and keep it indefinitely.