1. Fast track procedure: Approval will be issued within approximately 3 months.
2. A € 2 million (plus vat if any) – Investment in a single Residence.
A single property to be used as a residence at a minimum value of € 2 million.
The residence must be retained by the investors for a period of 3 years.
After 3 years the Investor has the right to sell his/her property and buy another one at a minimum value of €500,000.
3. A €2 million (plus Vat if any) Investment in a selection of Residential Properties, out of which one property is to be used as a privately-owned permanent residence of a minimum value of €500,000.
The remaining € 1.5 million can be invested in a range of residential properties only, which may be resold after 3 years.
4. It is noted that members of the same family, who apply separately as investors , can collectively acquire a residence, provided that the total value of this home-property covers the amount of €500.000, per each applicant
5. In case that the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of €500.000,part of this additional amount can be used for purposes of supplementing the total amount of the investment made in the basis of the criteria of Part A above.
6. The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus.If the applicant does not already hold a residence permit, he/she may apply for an immigration permit on the basis of Regulation 6(2) of the Aliens and Immigration Law, simultaneously with the application for naturalization.
7. Any property/ ies purchased during the past 3 years, can also be included in the required investment amount.
8. The program applies to the immediate family of the applicant i.e the spouse and dependent children up to the age of 28 if full time university students.
9. Applicants must hold a clear criminal record from the country of origin and the country of residence (if different).
10. No requirement to physically reside in Cyprus, before/ after approval.