From the November 2020, the Cypriot citizenship program was placed on hold, however, investors can still obtain Cypriot Residency as an alternative option, allowing you to move to Cyprus and eventually obtain citizenship.
The Cyprus Residency by Investment Program allows foreign investors and their families – the main applicant, spouse, dependent children up to age 25 as well as parents and parents in law – to gain a Permanent Residency Permit (PRP) from Cyprus in 2 months following a property purchase of €300,000. No donation amount is necessary and no physical presence required. This is a more affordable option than the previously required
€2M for Cypriot citizenship program.
The investor is required to make a first time purchase of one or two properties from the same developer. Following this investment, the applicant can then apply for a residency permit and once approved, must visit Cyprus within a year to submit the biometric data to receive the Permanent residency card. After this, they must revisit Cyprus again within 2 years to maintain the permanent residency status, however it is not necessary to reside in the country. You can apply for citizenship once obtaining permanent residency status after 5 years, providing that all
other citizenship requirements are met.
Cyprus is a beautiful island with a mild, sunny climate and stunning beaches and scenery. It is a safe country with a favorable tax system, with no taxes on dividends, interest, income, capital gains or inheritance.