Citizenship By Financial Assets

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Cyprus
About
Requirements
Cost of Living
Expats
Talent Migration

About

The applicant has to buy units of at least €2,0 million from alternative investment funds (AIF) established in the Republic of Cyprus, licensed and supervised by the CySec and whose investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this Scheme or in areas approved by the Minister of Finance. In order to confirm that the investments that meet the criteria of the current Scheme will be kept for at least three years, the manager or the auditor of the Fund shall inform in writing and on an annual basis, the Ministries of Finance and Interior with reference to the value of the initial investment.

The purchase of financial assets of Cypriot companies or organizations of at least €2,0 million, such as bonds, bills and securities, issued with the approval of the CySec, by companies that have proven physical presence and substantial economic activity in the Republic of Cyprus, and have as a purpose the financing of the investment plans of these companies or organizations exclusively in Cyprus, based on an investment plan, fall under this criterion.

It is noted that the purchase by an AIF of units of other AIFs is not considered eligible.

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Duration

Life Long Month(s)

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Citizenship

2 Month(s)

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Fees

80 USD approx

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P. Residency

1 Month(s)

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Processing time

12 Week(s)

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COMPLEXITY

Very Low

What are eligibility requirements for the Citizenship By Financial Assets?

5 Eligibility Requirements

  • Applicant must buy units of at least €2,0 million from alternative investment funds (AIF) established in the Republic of Cyprus
  • Units must be licensed and supervised by the CySec and investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this Scheme or in areas approved by the Minister of Finance.
  • The investments that meet the criteria of the current Scheme will be kept for at least three years, the manager or the auditor of the Fund shall inform in writing and on an annual basis, the Ministries of Finance and Interior with reference to the value of the initial investment.
  • Applicant must have a specific business plan
  • Applicant must have clean Criminal Record from the country of origin and the country of residence

Which documents do I need to apply for the Citizenship By Financial Assets?

12 Document Required

  • Application Form M127 fully completed and signed before a Registrar of a Cypriot court or a consular officer
  • Birth Certificate
  • True Copy of passport
  • Certificate of Clean Criminal Record from the country of origin and the country of residence
  • Marriage Certificate/ Civil Partnership Certificate
  • Two passport size photographs
  • Curriculum Vitae
  • Copy of Residence Permit in the Republic of 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.
  • FINANCIAL DOCUMENTS : Certificate of Registration of the company, Certificate of shareholders by the Registrar of Companies , Audited accounts of the company (or companies) for the last three years
  • Title/Titles and other relevant documents of the financial assets / units purchased Copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization
  • Specific investment plan
  • Confirmation by the CySec.

Cost of living

Avarage cost of living in Cyprus

1. Grocery

ItemsUnited StatesCyprusComparison
Apples (1KG)2.2 - 6.61 USD1.09 - 2.51 USD60% less
Cheese (1KG)6.61 - 16.53 USD5.45 - 10.89 USD30% less
Bread (500g)1.53 - 3.41 USD0.76 - 2.17 USD41% less
Banana (1KG)1.08 - 2.2 USD1.09 - 2.18 USD1% less
Pack of Marlboro5.45 - 8.69 USD3.27 - 5.45 USD39% less
Eggs (12)1.75 - 3.99 USD1.63 - 3.27 USD15% less
Bottle of Wine9 - 16 USD4.36 - 7.62 USD53% less
Onions (1KG)1.52 - 4.41 USD0.49 - 1.09 USD74% less
Chicken Breast (1KG) 4.41 - 14.31 USD4.9 - 9.8 USD22% less
Milk0.65 - 1.12 USD1.14 - 2.07 USD81% more

2. Restaurant

ItemsUnited StatesCyprusComparison
Beer Imported (0.33L Bottle)4 - 7 USD2.18 - 4.36 USD41% less
Beer Local (0.5L Draught)3 - 5 USD1.63 - 3.81 USD33% less
Cappucino3 - 5 USD2.18 - 4.36 USD19% less
Meal for 2 at mid-restaurant35 - 70 USD26.14 - 54.46 USD24% less
Meal at inexpensive restaurant10 - 20 USD6.67 - 16.34 USD24% less
McDonald Combo Meal6 - 8 USD5.18 - 7.62 USD9% less

3. Transportation

ItemsUnited StatesCyprusComparison
One-way Ticket (Public)1.5 - 2.75 USD1.37 - 1.63 USD30% less
Gasoline (1LTR)0.53 - 0.76 USD1.2 - 1.43 USD103% more
Taxi (1KM)1.24 - 2.49 USD0.69 - 1.31 USD47% less

4. Rent

ItemsUnited StatesCyprusComparison
1 Bedroom City Centre650 - 2000 USD272.29 - 544.57 USD70% less
1 Bedroom Outside City550 - 1500 USD217.83 - 490.12 USD66% less
Internet (Cable/ADSL)35 - 80 USD21.78 - 49.56 USD38% less

5. Leisure and Shopping

ItemsUnited StatesCyprusComparison
Summer Dress (Zara,H&M)20 - 50 USD27.23 - 49.01 USD8% more
Cinema Ticket (one)9 - 13.5 USD6.53 - 8.71 USD33% less

15.6K People moved to Cyprus from United States by 1990 - 2019

Other top ten expats in Cyprus listed below

RankCountryMaleFemaleTotal
#1United Kingdom97K80.7K177.7K
#2Greece51.4K64.9K116.3K
#3Sri Lanka39.3K9.2K48.4K
#4Russia37.8K26K63.8K
#5Georgia35.6K39.4K75K
#6Philippines33K2.3K35.3K
#7Bulgaria21.3K8.9K30.2K
#8Romania19.1K7.5K26.5K
#9South Africa13.4K10.9K24.4K
#10Ukraine10.9K5.2K16.1K
#11Egypt10.7K14.8K25.4K
#12Syria9.2K15K24.3K
#13United States8.2K7.4K15.6K
#14Australia7.5K7.1K14.6K
#15Germany7.3K5.5K12.7K

Talent Migration data for Cyprus

Talent gain & drain map of 2015-2019 data. Sourced from World Bank Digital Development Data.

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