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ABOUT THE NEW CITIZENSHIP PROCEDURE ONLINE

CITIZENSHIP

CYPRUS CITIZENSHIP WHEN BUYING PROPERTY

The Cyprus program «Citizenship by Investment» has been working since March 2014. But in the spring of 2019, there was a major change. Today, in order to get a Cyprust passport, one must have at least €2-2.5 million. They can be invested in real estate, shares of local companies and the shipbuilding industry of the country.

When decided to invest in a non-residential property, the investor is still obliged to buy a residential property worth at least €500,000. This residential property or any other property, same value or more, shall remain in ownership for applicant's lifetime.

The additional expense is 19% VAT on new properties or 5% if the property is not leased. However, even if you choose the second option, you have to pay 19% first, and then retrieve 14% later.
ЭЛИТНЫЕ АПАРТАМЕНТЫ С 2-4 СПАЛЬНЯМИ В LIMASSOL DEL MAR
ЭЛИТНЫЕ АПАРТАМЕНТЫ С 2-4 СПАЛЬНЯМИ В LIMASSOL DEL MAR
LUXURIOUS 2-4BR RESIDENCE AND PENTHOUSES IN LIMASSOL DEL MAR
In addition to these investments, the applicant is required to make irrecoverable donation to two public funds, Research and Innovation Foundation and the Cyprus Land Development Corporation.

The sum of each donation is €75,000, but may be if the remaining investment is less than €2 million, in which case the missing difference is sent to the Research and Innovation Foundation.

The Cyprus Investment Programme allows the waiver of donation to the above-mentioned funds. Instead of donation to the funds, one can contribute money to certified investment or social enterprises. If purchased from such a company, the investor may even expect to make a profit.

THE PROCEDURE

THE PROCEDURE

1
Step One
A licensed, Immigrant Invest agent from the Cyprus Investment Program tests customers if they are reliable. The purpose of this phase is to identify investors who have no chance of obtaining a local passport.

A client is not allowed to participate in the program even if he has a certificate of clean criminal record, while the company he owns has court proceedings in progress. We advise you to finish any before you apply.
2
Step Two
After the initial check, the selection of property unit begins.
3
Step Three
The first necessary visit to Cyprus to choose the real estate and sign the contract. Typically, investors want to see a unit in which they invest a lot of money. But in practice, it's possible to do it remotely, especially now, when the borders are closed.

Remote purchase takes about a month. During this period, a sales contract is negotiated and signed between the client's lawyer and the developer. The documents are delivered by courier service.

It is important that the processes of buying a property and applying for citizenship go hand in hand. While the contract is being signed, the investor collects a package of documents (birth and marriage certificates, police clearance and proof of legality of funds), translates it into English and apologizes. The originals are then sent to an agent in Cyprus. According to experts, the collection usually takes about a week.
4
Step Four
Once the contract is signed and the property is registered at the land department, the applicant transfers the amount of the investment to the developer's account and immediately applies for citizenship. At this stage, it is crucial for the applicant or his/her spouse to come and provide their biometrics. One or two weeks later, a residence permit is issued.

As it is not possible to get to Cyprus by airplane at this time, so the agents advise not to waste time collecting documents and applying for citizenship. As soon as the borders open, one can take a flight to Cyprus right then.
5
Step Five
According to the law, six months after the residence permit is issued, it is possible to obtain citizenship. However, as practice has shown that time limits are extended up to a year. This is the time when documents are considered when the Cypriot authorities carry out their security checks.
6
Step Six
When an application is approved six months later, the customer pays two €75,000 premiums. He can come to Cyprus immediately after receiving a passport. For this purpose, it is necessary to allocate one day during which the applicant returns the biometrics, takes a photo and receives the document.
ЭЛИТНЫЕ АПАРТАМЕНТЫ С 2-4 СПАЛЬНЯМИ В LIMASSOL DEL MAR

BASIC REQUIREMENTS

The investor or his/her spouse and all their children up to the age of 18 and adult children up to the age of 28 may apply for a Cyprus passport if they receive their first education and/or are dependent. Passports are also issued to the parents of the investor, but a separate property of €500,000 is required for them.

For participation in the program you can buy not one expensive object, but several, the total cost of which exceeds €2 million.

The total cost of participation in the Cyprus investment programme is more than €2.5 million. This amount consists of investments, 19% VAT on real estate , 1% transaction fee for drawing up a sales contract and payment for lawyer. It also includes two €75,000 donations, state fees (about €20,000 for a family of four), and travel costs. One need to visit Cyprus at least twice in order to get a residence permit card and after that a Cyprus passport.
  • Proof of real estate investment €2000000
  • Passport copy
  • Birth certificate
  • Police clearance certificate from country of origin and country of residence (if different)
  • Marriage certificate (if applicable)
  • CV
Application Criteria
Application Criteria

    • Submission fee – €2,000 per adult applicant
    • Fees for issue of the Naturalization certificate – € 5000 per adult
    • Fees for issue of the Naturalization certificate – €80 per minor child
    • Legalization of the contract – €4,500
    • Legal fees – upon request (from €25,000)
    Additional fees
    Additional fees

      • Standard VAT rate is 19%
      • VAT may be reduced to 5% for the first 200 sq.m. of the first property
      • Approval taxes and duties apply
      Taxes
      Taxes
      We will call you back within one hour and send you additional information on email.
      LUXURIOUS 2-4BR RESIDENCE AND PENTHOUSES IN LIMASSOL DEL MAR

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