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ACQUIRING EU CITIZENSHIP

Benefits of acquiring Cypriot(EU) Citizenship:

1.Passport of a Cyprus citizen is a full European Union passport.
2.Cypriot citizens enjoy the freedom to live, work, study and travel throughout all   member states of European Union.
3.The investor gets a Cyprus citizenship for all family and for all financially dependent children under the age of 28.
4.Upon the passport is issued the investor will have all rights and benefits like a Cypriot born person.
5.No need to live in Cyprus – Business opportunities and trading to 750 million EU Citizens.
6.The investor has a choice to sell the properties after 3 years and only retain one property (Residency) at the minimum value of €500,000. No capital gains apply if  investment is made from July 2015 to end of December 2016.
7.A Cypriot passport gives access to the excellent education in Cyprus or European Universities or  Collages. Cypriot citizens that secure places at the public universities are not subjected to any tuition fees as the entire undergraduate courses are free.
8.Cyprus allows dual citizenship. Dual citizenship offers an effective tool for international tax planning and provides financial privacy.
9.A Cypriot passport offers an insurance policy against political instability in the nearby regions.
10.Healthcare : Among the substantial benefits that the Cypriot citizenship provides with,  are healthcare rights.
11.Taxation : Cyprus is among the countries with the lowest corporate tax rate (12.5%). This is a great advantage for the expansion of business activities.
12.A Cyprus passport holder may travel to more than 150 countries without visa application. 


Criteria

A. An investment in one of the following categories or a combination of those of at least €2,0 million: 
1. In government bonds
2. In financial assets of Cypriot companies or Cypriot organizations 
3. Investment in real estate, land development and infrastructure projects
4. Purchase or creation or participation in Cypriot businesses or companies employing at least 5 Cypriot citizens.
5. Personal fixed deposits for 3 years in Cypriot banks or privately owned companies or trusts in the Republic
6. Combination of the aforementioned criteria 

OR

B. Persons whose deposits with the Popular Bank Public Company Ltd have been impaired due to the measures implemented after the 15th March 2013: 
Applicants who have incurred an impairment in their deposits with the Popular Bank Public Company Ltd amounting to a total of at least €3,0 million and who have made an additional investment to balance the required amount of €5,0 million through the aforementioned criteria (A1 – 5).

OR
 
C. Major Collective Investments: 
On special occasions, the Council of Ministers reserves the right to reduce the above criteria (A1 – 4) to €2,5 million for investors who demonstrably participate in a special collective investment scheme, provided that the total value of the investment is at least €12,5 million. It is noted that the investments A1 through A4 may be realized through a different salesman/provider (physical or legal entity).


Documents
(All documents must be original, officially translated and properly validated.)

1. An M127 application form – completed and signed.
2. Certificate of Clean Criminal Record from the country of origin and the country of residence (if it differs). 
3. Proof of Residence in the Republic of Cyprus: (a) Contract of Sale, (b) Title Deeds/ Receipt for lodging the contract with the Lands and Surveys Department, (c) Receipts for paying the agreed purchase price, (d) Copy of the wire transfer in the Cypriot commercial banking institution in the name of the seller or the seller’s company. 
4. Certificate of Registration of the company/ companies by the Registrar of Companies. 
5. Certificate of shareholders by the Registrar of Companies or certificates evidencing that the applicant is the beneficiary owner of the company/ companies. 
6. Audited Accounts of the company (or companies) for the last three years preceding the year of the application. 
7. If the applicant is a high-ranking senior manager the submission of the employment contract and the receipt from the Department of Inland Revenue is additionally required. 
8. Any other document that might be requested either by the Ministry of Interior, or by the Ministry of Finance.

 
Application Documents - Download Here

Furthermore, depending on the case, the following are required:

Investment in Government bonds: 
(a) Receipts from the Treasury of the Republic of Cyprus for the purchase of the Government bonds.  

Investment in financial assets of Cypriot companies or Cypriot organizations: 
(a) Title/titles and other documents regarding the financial assets. 
(b) Copy of the wire transfer in the Cypriot commercial banking institution in the name of the company or the organization. 

Investment in real estate, land development or infrastructure projects: 
(a) Contract of Sale. 
(b) Title Deeds/ Receipt for lodging the contract with the Lands and Surveys Department. 
(c) Receipts for paying the agreed purchase price. 
(d) Copy of the wire transfer in the Cypriot commercial banking institution in the name of the seller or the seller’s company. 

Purchase or creation or participation in Cypriot businesses and companies: 
(a) Contract of Sale. 
(b) Receipts for paying the agreed purchase price. 
(c) Certificate of shareholders by the Registrar of Companies or certificates evidencing that the applicant is the beneficiary owner of the company/ companies. 
(d) Copy of the wire transfer in the Cypriot commercial banking institution in the name of the company or the organization 
(e) Confirmation from the Social Insurance Department as to the insurable income of the Cypriot employees in the company. 
(f) Confirmation from the Inland Revenues Department as to the taxable income of the Cypriot employees in the companies or businesses that the applicant invested in. 

Deposits in Cypriot banks: 
(a) Confirmation from Cypriot banks as to the fixed term deposits for three years of the applicant or the companies in which he is the beneficiary owner or of the trust in which he is the beneficiary owner. 
(b) Copy of the wire transfer in the Cypriot commercial banking institution. 

Impairment of deposits in the Popular Bank: 
(a) Confirmation as to the level and the time of the impairment of the deposits. 
(b) In the case of deposits of companies of which the applicant is the beneficiary owner, the Certificate of Registration of the Company by the Registrar of Companies and/or any other evidence, along with a declaration from the trustee of the funds confirming the beneficial owner is to be attached.  

Information  Documents