NEW CRITERIA FOR CYPRUS CITIZENSHIP. Granting of citizenship to investors in Cyprus.

ep

The Cyprus (EU) Citizenship by investment programme is brought to ep Infinity Agents Ltd .

Participating in the programme investor with his family obtain Cyprus passports. This is not a residence permit or a visa but rather full citizenship of the EU-member state.

The programme requires the amount of €2mln to be invested in Cyprus for 3 years. The citizenship is granted within just 3 months!

The programme has already attracted over 3 billion euros of direct investments into the economy of the Republic of Cyprus.

Advantages of the programme.

• The programme is unique in Europe and very appealing:

Cyprus passport is a full EU passport. Investor and his family can freely reside, work, study, have business in any of the EU-member states as well as in Switzerland, Liechtenstein, Norway and Iceland

• Holder of Cyprus passport can travel visa-free in 157 countries in total
• Dual-citizenship is permitted. Acquisition of Cyprus citizenship is not reported to other countries
• The passport is issued also for the investor’s spouse and all financially dependent children (up to 28 years old). All next generations of investor retain EU citizenship
• The investor’s parents are entitled to apply for citizenship provided that they are owners of a Cyprus permanent residence of at least €500.000
• An express procedure - 3 months to be approved
• No requirement to reside in Cyprus
• Minimum investment required is €2mln (here and below amounts are excluding VAT where VAT is applicable)
• The investment must be kept just for 3 years. After that the assets can be sold. To be more precise, the Law states that a property of minimum value of €500.000 must be kept as a private residence (we expect that this condition will be removed; anyway this private residence can be rented out and generate rental income for investor)
• No donation to the Cyprus government
• No history and language proficiency tests

Investment options.

• An investor is free to choose where to invest from a wide choice of options:
• Residential properties
• Commercial properties
• Development projects
• Purchase or creation or participation in Cypriot businesses or companies
• Investment funds, financial assets of Cypriot businesses or organizations
• Government bonds (maximum €500.000; the balance €1,5mln should be invested in other options like property)
• Combination of the above options

Requirements for investors.

An investor must meet the following requirements:

• The minimum investment amount is €2mln
• Keeping investments for a period of minimum 3 years
• Clear criminal record for applicant, spouse, adult children and parents
• The investor must own a private residence(ies) in Cyprus, purchased for at least €500.000. If investments are made into residential property(ies), this requirement is not applicable
• The investor must be the holder of a residence permit in Cyprus to qualify for receiving the Cyprus Citizenship. For this purpose, he/she should submit an application for a residence permit, which will be issued simultaneously with the filing of the Citizenship application. The obtaining of residence permit is a formality due to EU regulation. There is still no requirement for the investor to live in Cyprus.

* If an investor sells residential property(ies) of €2mln after 3 years, he/she has to buy another residential property(ies) worth €500.000

infinity agents ltd / Cyprus