Banking Services

Cyprus Residency


Criteria and Conditions for Naturalisation of Foreign Investors/Entrepreneurs by Exemption on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013

Criteria of an Investor to obtain a Cyprus Passport- Citizenship

  1. Clean Criminal record
  2. The applicant must possess a clean criminal record from the country of origin and the country of residence (if different).

  3. Confirmation
  4. Confirmation that the applicant’s name is not included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union. (this check is performed by Cyprus police through Interpol)

  5. Residence in the Republic of Cyprus
  6. The applicant must have a permanent privately-owned residence in the Republic of Cyprus, the value of which must exceed the amount of €500.000 plus VAT at current prices.

  7. Residence Permit in the Republic of Cyprus
  8. applicant must hold a residence permit in Cyprus prior to his naturalization and he can apply for an immigration permit on the basis of Regulation 6(2) of the Aliens and Immigration Law simultaneously with the application for Citizenship.

In addition the Applicant may choose one of the following investment options and schemes which can be disposed after three years following the acquisition of Citizenship:

  • . Real Estate – Buying properties (houses, offices, shops, hotels etc or a development of a similar nature) residential or commercial developments, developments in the tourism sector or other infrastructure projects, Investment in land under development is included in this criterion, provided that an investment plan for the development of the purchased land will be included in the application. Building zone of zero development land is excluded; OR
  • Purchase or Establishment or Participation in Cypriot Companies or Businesses operating in Cyprus, based on a specific investment plan OR
  • Alternative Investment Funds (AIF) or financial assets of Cypriot Companies or Cypriot organizations that are licensed by CySec and whose investments are made exclusively in Cyprus OR
  • Combination of the above criteria amounting to at least €2,0 million, the applicant may purchase special government bonds of the Republic of Cyprus up to €500.000.- which will be issued by the Public Debt Management Office of the Ministry of Finance.

Important notice:

  • The applicant who invest in residential properties with total value of €2 million there is no need to buy a residential property worth €500.000.- plus VAT extra.
  • When the applicant invests in government bonds and commercial properties, in addition to the investment of €2 million, he or she is required to purchase a residential property worth €500.000.- plus VAT. Thus the total investment is €2.5 million.
  • Investor is entitled to sell its investments after 3 years however he or she must hold possession of at least €500.000.- plus VAT worth of residential property.

In summary the government fees are as follows:

APPLICANT

APPLICATION SUBMISSION FEE

CERTIFICATE ISSUANCE FEE

TOTAL

INVESTOR

€2.000

€5.000

€7.000

INVESTOR’S SPOUSE

€2.000

€5.000

€7.000

INVESTOR’S ADULT CHILD

€2.000

€5.000

€7.000

INVESTOR’S MINOR CHILD

€80

-

€80

Procedural Steps

  1. We shall receive all documents in Cyprus and have them officially translated by the Press and Information Office (PIO) of Cyprus and legalized. PLEASE NOTE that all public documents issued abroad must: Be certified with APOSTILLE if the country has signed the Hague Convention of 1961 or – Certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then by the Embassy/Consulate of Cyprus in his country or – The Ministry of Foreign Affairs of the country of origin of the applicant and then the Embassy / Consulate of his country in Cyprus and then certified by the Ministry of Foreign Affairs of Cyprus. – In the instance that the country of origin of the applicant has not signed the Hague Convention of 1961 and there is no Embassy /Consulate in the above mentioned country the documents must be certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then the nearest Embassy / Consulate which is accredited to Cyprus
  2. We then prepare the application, which the client needs to sign in Cyprus, in the presence of a Court Registrar.
  3. The application is submitted, upon receipt of 50% of our charge fees. We receive Confirmation of Submission of Application for Naturalization by exception and this document will be used for the submission of the Immigration permit application at Migration Department. The applicant shall visit the Migration office to give biometric data (fingerprints and photograph). After the collection of the biometric data, the Immigration Permit (card) is issued within 5 working days.
  4. Within three to six months, we expect to receive the official letter from the Council of Ministers that they have processed and approved (or rejected) the application.
  5. The procedure will be completed, provided that the applicant holds a residence permit for a period of at least 6 (six) months. If the applicant does not hold a residence permit for the aforementioned time period, he/she will need to wait until the six month period is completed.
  6. Provided that we have approval, we have to collect the blue naturalization certificate, from the Ministry of Interior and pay the fees.
  7. Then we shall go to the court with the applicant, so that the client will give oath that he/she will respect the laws of the Republic of Cyprus. The Court Registrar will stamp the blue certificate
  8. We shall lastly, visit with the applicant the immigration office to apply and get a passport and I.D card. The passport and ID card can be issued same day through the expedition procedure.

Time Frame

Provided that we have in our possession all the necessary documents, we need six months from the day the applicant obtained the Immigration permit card to complete the procedure.

Foreign nationals, who have completed 7 (seven) years of legal residence in Cyprus are eligible to apply for Citizenship. In cases of foreign nationals who are either parents or children of Cypriot citizens the time required is 5 (five) years instead of 7 (seven). In both cases, the applicant must have resided legally and continuously in Cyprus during the 12 (twelve) months prior the date of the application.

Our Practice

We assist you on the whole application process. We represent you before the relevant authorities and we ensure that all forms are duly completed so as to avoid unnecessary delays. Our Immigration team is very well experienced and we have represented clients on their naturalization process for many years.

Upon Submission of Application you need the following accompanying documents:

  • Birth certificate of the applicant
  • Certificate of clean criminal record of the applicant
  • Marriage certificate
  • Copies of all the pages of all the passports of the applicant showing his/her arrivals and departures in Cyprus
  • Detailed statement of arrivals and departures completed by the applicant
  • Copies of newspaper advertisements in two consecutive publications which report that the applicant has filed an application for naturalization.
  • Two passport size photographs
  • Photocopy of receipt for the amount of 500 euros paid as fees

PLEASE NOTE that all public documents issued abroad must:

  1. Bear an official translation into Greek or English from Press and Information Office.
  2. Be certified with APOSTILLE if the country has signed the Hague Convention of 1961 or
    • Certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then by the Embassy/Consulate of Cyprus in his country or
    • The Ministry of Foreign Affairs of the country of origin of the applicant and then the Embassy / Consulate of his country in Cyprus and then certified by the Ministry of Foreign Affairs of Cyprus
In the instance that the country of origin of the applicant has not signed the Hague Convention of 1961and there is no Embassy /Consulate in the above mentioned country the documents must be certified by the Ministry of Foreign Affairs of the country of origin of the applicant and then the nearest Embassy / Consulate which is accredited to Cyprus.

Our firm delivers a truly professional service for those who wish to obtain Cyprus Citizenship and Permanent Residence through investment and provides specialized property investment assistance.

With the combination of our firms’ qualified members and our exceptional government relations we can provide the highest immigration services in Europe.

Our goal is to meet the individual needs of our clients with a priority to an efficient timely service. We can offer solutions to businesses and individuals looking to invest, relocate, to become Permanent Residents of Cyprus (EU) or obtain Cyprus Citizenship and Passport.

Immigration services for those who desire to acquire Permanent Residency

The Minister of Internal affairs announced a new, rapid and simplified procedure of granting Immigration Permits to third country nationals who wish to invest in Cyprus (under Reg.6(2) of the Aliens and Immigration Regulations). The applicant should satisfy the following requirements:

The applicant must prove that he has at his disposal a secured annual income of at least €30.000 from sources other than employment in Cyprus, such as from wages for work outside Cyprus , pensions, dividends, stock shares, fixed deposits, rents etc. This annual income is increased by €5.000 for each dependent person. A dependent person is either the wife of the applicant or the children under 18. Adult Children should submit their application independently and must meet all the criteria without exception.

Further the applicant must submit his application accompanied with a title deed or contract of sale of an immovable property in Cyprus, worth at least €300,000 (excluding VAT) and official proof of payment of the amount of at least €200,000. The said purchase must be sold for the first time by a development company.

In addition to this, he must provide a certificate/confirmation letter issued from a Cyprus Bank that he has deposited a fixed minimum amount of €30.000.- in an account in Cyprus for a minimum period of 3 years.

He must submit a Criminal Record Certificate, which must be certified by the Cyprus Embassy in his country of origin or appostilled and the applicant should prove that he would not constitute a threat to the public order or the public safety in any way.

The applicant and his wife should submit a declaration that they do not intend to be employed directly or indirectly in Cyprus, paid or unpaid. The above does not preclude the applicant or his/her dependents from being a shareholder in a Cyprus registered company, which operates in Cyprus.

He should visit Cyprus at least once every two years. If the above criteria are met and provided there are no reasons relating to either the criminal record of the applicant, or grounds of public policy and public security, the application will be examined by the Minister of Internal Affairs in a positive way and an immigration permit will be issued. The period of examination will not exceed 2 months from the date of its submission.

Answers to frequently asked questions relating to the issue of Immigration Permits to applicants who are nationals of third countries and who invest in Cyprus, under the provisions of the Regulation 6 (2) of the Aliens and Immigration Regulations. To view the FAQ please press here.

The Permanent Resident Permit may be obtained also by applying through one of the following categories referred to in Regulation 5 of the Aliens and Immigration

Regulations:

  • Category A: Individual with a capital of €.430.000.- who intends to work as self employed in agriculture, cattle breeding, bird breeding or fish culture in Cyprus, provided that he has in his possession adequate land or a permit to acquire same and such an employment should not negatively affect the general economy of Cyprus.
  • Category B: Individual with a capital of €.350.000.- who intends to work as self employed in mining enterprises in Cyprus, provided that a permit for mining is secured and such an employment should not negatively affect the general economy of Cyprus.
  • Category C: Individual with a capital of €.260.000.- who intends to work as self employed in a trade or profession in Cyprus, provided that a relative permit is secured and such an employment should not affect negatively the general economy of Cyprus.
  • Category D: Individual who intends to work as self employed in a profession or science in Cyprus, with academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
  • Category E: Individual who has been offered permanent employment in the Cyprus, which will not create undue local competition.
  • Category F: Individuals who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least €9568,17 for a single applicant and moreover at least €4613,22 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary

An Immigration Permit will be automatically cancelled if the interested person fails to acquire residence in Cyprus within one year from the approval of the application, in case he/she is residing outside Cyprus. It will also be cancelled if he/she acquires permanent residence abroad or be absent from Cyprus for a period of two years. Dependants of a Permanent Resident Permit holder (wife or children under the age of 21) can also obtain the Permit. Those who acquire the Immigration Permit may apply for a Citizenship/ Cyprus Passport after 7 years of residence in Cyprus and the issuance of the permit.

The fees for the granting of an Immigration Permit amount to €500 and are paid against a receipt upon submission of the application.The most common category is Category F which has recently attracted many non EU citizens who wish to obtain Cyprus Permanent Residence Permit without the right to work.

You may apply for this Permit either by Fast Track Procedure under Regulation 6(2) (period of examination 1-2 months) or Category F under Regulation 5(F) (period of examination 5-12 months).

Our Law firm will assist you on successfully applying for Temporary Residence Permit in Cyprus. We will ensure that the relevant filing forms are well completed and that you are represented by our firm on every step of the process.

Non-EU nationals have the option of staying in Cyprus, as visitors, for over 3 months period provided that they have successfully applied for such permit at the Civil Registry and Migration Department of Cyprus.

In order for you to be entitled to such a temporary residence visit, you need to fall into one of the following two categories:

  1. You are a non-EU citizen who have been married to a Cypriot/EU citizen and you now intent to live in Cyprus;
  2. You are a non-EU citizen, parent in law of a Cypriot/EU citizen who live in Cyprus, and you now intent to live in Cyprus for family reunification;
  3. You are an underage child (younger than 18 years old) of a non-EU citizen married with a Cypriot/EU citizen living in Cyprus, and you now intent to live in Cyprus for family reunification;
  4. You are a non-EU citizen who wish to live in Cyprus for more than 3 months (i.e. to extend your VISA) considering that you have sufficient income for your living expenses (income must be coming from abroad).

If you have acquired a visitor's VISA from any Cyprus embassy or consular from abroad (such VISA would be for 3 months stay in Cyprus) you may apply for extension of such VISA for a maximum period of 3 months. VISAs with the term "FINAL" cannot be extended by the Migration Department but only by the Ministry of Foreign Affairs of Cyprus; such extension can be done when special reasons are in place (such as Cyprus property owners or for humanitarian reasons.

Our Law firm will assist you on successfully applying for Employment Permit in Cyprus. We will ensure that the relevant filing forms are well completed and that you are represented by our firm on every step of the process

The application for the issue of Entry, Residence and Employment (work) permits are submitted by the Employer (not by the employee). The application is submitted to the Civil Registry and Migration Department.

Together with the application, you need to submit the Employment Contract, certified by the Department of Labor of the Ministry of Employment and Social Insurances.

Duration of Work Permit

Generally, the maximum period of a non-EU citizen to live and work in Cyprus is 4 years. However, the following employees are exempted from this limitation:

  1. highly skilled personnel employed in companies with substantial annual turnover
  2. executive directors, middle-management staff, executive staff and other key personnel working in companies of foreign interests (requires at least 50% of the company’s share capital to belong to a non-Cyprus citizen or, its’ direct foreign capital investment to be at least €171.000) - minimum salary requirements apply.
  3. qualified nurses, registered in Cyprus for the practice of such nurse profession
  4. athletes and coaches of individual or team sports
  5. religious icon painters (for particular projects).

Non-EU citizens married with a Cypriot/EU citizen

Non-EU citizens who are married with a Cypriot/EU national and wish to work in Cyprus they need to apply for working permit and file all necessary documents.