FREQUENTLY ASKED QUESTIONS
Yes – as long as the combined investment amount is at least €2million you can invest in any combination of the above routes.
You can purchase residential property as well as commercial property and projects within the tourism sector. You can also invest in real estate development projects, as long as the value of the project is worth at least €2million. However, land acquisition does not count as a qualifying investment for this visa and its value will not count toward the €2million investment criterion. Note that for development or infrastructure projects, you must enclose a viable business plan with your application.
You’ll need to keep your €2million investment for a period of at least three years following your golden visa being issued. After then, you are free to either retain or sell your investment – but you must still retain your private residence.
The private residence that you must buy is permanent. In other words, you own the residence that you purchase for life.
You are allowed to sell your permanent residence at any time. However, if you do you must immediately purchase another residential property that has the same or higher value in replacement. In essence, you must retain a private residence worth at least €500,000 for life once you gain Cypriot citizenship.
If you are investing €2million in residential real estate only, and one of these properties is worth at least €500,000, you will not also be required to purchase a further private residence. In all other scenarios, you will need to purchase a private residence worth €500,000 or more. This includes if you invest €2million in real estate but some (or all) of the properties are not residential, or if you invest €2million in residential property but none of them have a value of at least €500,000.
You would still need to purchase an additional private residence with a value of at least €500,000 – even if one of the properties you have purchased is a private residence worth more than half a million Euros. Your permanent residence can only qualify as a part of your investment criteria if you are investing solely in residential property.
You do not need to make an additional investment if you are including your spouse or any dependent children on your application. However, if your parents want to apply for citizenship they will need to purchase a residence worth at least €500,000.
They can – however, the residence would need to be a joint investment between you and your parents, and your parents would need to invest at least €500,000 into the property. This means that a single property worth at least one million Euros can satisfy this requirement for both you and your parents.
Our job is to make sure that investors like you obtain their golden visa quickly and with minimum hassle. We take care of every step of the application and investment process, so that your direct involvement in gaining citizenship is minimal. To get started, call one of our legal advisers on +44 203 971 5088.
Take an in-depth look at the requirements of Cyprus’ citizenship by investment programme