In its efforts to further attract Foreign Direct Investment and encourage the use of Cyprus by High Net Worth Individuals, the Cyprus Government has made its Scheme for Naturalization of Investors even simpler.
Through this scheme, non-EU residents are eligible to apply to become a Cypriot citizen and obtain a Cypriot (EU) passport through naturalization via a standalone application and investment of a minimum of €2M in any residential real estate, land development, or infrastructure projects.
Investors’ families, including spouses, parents, and financially dependent children are also entitled to apply for citizenship, either simultaneously or after the Cypriot citizenship has been acquired by the investor.
Investors can enjoy dual citizenship, as the scheme does not dictate that current nationality must be given up, nor is there a need to reside in Cyprus prior to applying. These advantages, coupled with Cyprus’ favorable tax system and the ability to travel without a visa to at least 176 countries, including 28 EU countries, makes Cyprus an ideal destination for individuals seeking to make an investment.
How we can help
Garpozis Construction & Developments can provide assistance and advice via our multilingual legal team on eligible residential properties for investment, the application process, and necessary documents to ensure a streamlined and fuss-free journey towards citizenship.