CYPRUS Citizenship by Investment – Procedure
We offer inspection visits to assist our clients in this exciting journey. The investors will meet our local experts, visit and compare different areas, and see all the properties they are interested in. Before the trip, the investors need to consider the following:
If visa is required the applicant may opt to apply for the following: (short-stay/travel visa or transit visa, details see ‘application documents’)
Preparation package: includes the following: Introduction to Cyprus, the weather, trip schedule, investment option etc. A typical trip schedule can be found in the following slide.
Each trip is different depending on arrival and departure times, and what the investors want to see, but a typical schedule might look like this:
- Inspection for the investment options: Meet the property developers, contractors, government officials etc..
- Inspection for the properties: View properties or apartments and surroundings.
- Investment plans and payment: once the investment option is chosen, the investors will go to the law firm, where the legal experts will help with the investment plan and prepare application documents. The investors will need to sign any necessary documents and pay the attorney fee and deposit for the properties or the full investment.
2. Grant of Immigration Permit
The investor can choose to pay the full amount (including the investment amount and all the fees related regarding immigration) either in Cyprus (one time payment) or pay the deposit in Cyprus and wire transfer the remaining balance in his/her home country within the agreed time frame.
Please note: the investor needs to submit evidence of payment on the agreed purchase price as financial documents for application.
After the inspection visit, the investor can start preparing the application documents. The completed application documents (including the full payment of the fees) will be posted to the law firm in the Cyprus, where the legal experts will submit the application to the Ministry of Interior.
Please note, only the spouse of the investor can hand in the application for immigration at the same time with the main applicant. All the other family members can start their application after the applicant acquired his/her citizenship.
For the issuance of the Immigration Permit, the collection of the applicant’s biometric data (fingerprints, photograph and signature) is mandatory. In order for the biometric data to be collected, the applicant is required to appear in person at the Civil Registry and Migration Department. thereafter the applicant needs to present an original travel document e.g. passport. After the collection of the biometric data, the Immigration Permit (card) is issued within five working days.
Grant of Cypriot Citizenship
The procedure for the acquisition of the Cypriot Citizenship will be completed, provided that the applicant holds a residence permit for a period of no less than 6 (six) months. The applicant will need to be present in Cyprus again to record his/her biometric data. Thereafter, the Civil Registry and Migration Department will issue the Certificate of Naturalization.
Subsequently, the applicant will need to give the Oath of Faith before a Registrar of a Cypriot court or a consular officer of the Republic of Cyprus. Once this procedure is completed, the applicant will be able to acquire a Cypriot passport and Identity Card.
SPOUSE OF THE MAIN APPLICANT
- The application of the spouse of the applicant can be submitted along with the application of the main applicant, so that either spouse will be able to acquire the Cypriot citizenship simultaneously.
- If the spouse didn’t submit the application along with the main applicant, then they will have to wait to submit their application until the main applicant receives Cypriot citizenship.
ADULT CHILDREN & PARENTS OF THE MAIN APPLICANT
- The application for the Naturalization by Exception needs to be submitted at the Ministry of Interior after the acquisition of the Cypriot citizenship by the applicant
- The procedure for acquisition of the Cypriot citizenship will be completed, provided that the applicant holds a residence permit for a period of no less than 6 (six) months.
MINOR CHILDREN OF THE MAIN APPLICANT
- The application for granting of the Cypriot citizenship to the minor children of the applicant (takes approximately 30 working days) needs to be submitted at the Civil Registry and Migration Department after the applicant acquired the Cypriot citizenship.
Disclaimer: The communication herein is intended to convey general information only and not to provide legal advice or opinions. It should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The facts stated may not reflect the most current legal developments. No action should be taken in reliance on the information herein. Qualified legal practitioners should be contacted for professional legal advice on specific issues.