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CYPRUS CITIZENSHIP BY INVESTMENT Cyprus Investment Programme LAW FIRM George K. Konstantinou
C Y P R U S C I T I Z E N S H I P B Y I N V E S T M E N T
Cyprus Investment Programme
L A W F I R MGeorge K. Konstantinou
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About Cyprus
Cyprus Investment Programme
Key Provisions - Eligibility
Investment Requirements
List of Required Personal Documents
Application Procedure
Government Fees
Why Us
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Contents
About Cyprus
At the crossroads of
Europe, Africa and
Asia at the heart of
the busy shipping
and air routes linking
the three continents.
A pleasant
Mediterranean
climate, enjoying
year-round sunshine
(more than
320 days).
Full member of the
European Union
since May 2004,
member of the
Eurozone since
2008.
The discovery of
gas and oil reserves
in Cyprus’ EEZ has
created new exciting
prospects of the
Country to become
an energy hub.
Legal framework
modelled on the
English
Common
Law System.
Location Climate E.U. Gas & Oil Law
Cyprus Investment Programme
The whole Family; including the spouse of the applicant,
children under 18 years old & adult financially dependent
children (university students - up to 28 years old) are
eligible to apply for citizenship.
The investor’s parents are entitled to apply for citizenship
provided they are owners of a Cyprus residential property
with at least €500.000 (Plus V.A.T if any).
6 months expected time-frame for the examination of the
application.
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Visa-free travel to more than 173+ countries.
Cyprus is a full EU Member state. Investor and his family
will be able to freely reside, work, study, have business in
any of the EU-member states.
Valid for life and passed on to new generations.
Cyprus allows Dual Citizenship.
No Tax Consequences - Applicants do not become tax
residents in Cyprus, unless they spent more than 183 days
in one calendar year.
Clean Criminal Record from the country of origin and the
country of residence, if they differ.
Their names must not be included in the list of persons
whose assets have been frozen within the EU, and they
should not have been rejected on a previous application
for citizenship in any other member-state of the EU.
Adult applicants must hold a Residence Permit in Cyprus
for at least 6 months.
Retain the Investments for at least 5 years from the date of
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receiving Citizenship.
Must keep for life a residential property valued €500.000.
Rental of the properties is allowed.
The money for the investments should be transferred to
Cyprus from abroad.
Limit of 700 main applicants/families per year.
The applicants must hold a valid Schengen visa. Applicants
that do not require an entry visa for travelling in EU
countries, are excluded from this obligation.
KEY PROVISIONS - ELIGIBILITY
TERMS & CONDITIONS
Investment Requirements
1. PURCHASE MAIN RESIDENCE, FOR AT LEAST €500.000 (PLUS V.A.T. IF ANY)
2. ADDITIONALLY, TO INVEST AS FOLLOWS IN EITHER OF THE BELOW:
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A2. Purchase /Establishment /Participation in Cypriot Companies or Businesses
A3. Investment in Alternative Investment Funds or Registered Alternative Investment Funds,
financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec
A4. Combination of the aforementioned investments. Option to purchase
special government bonds of the Republic of Cyprus, up to €500.000
€2 MILLION
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A.1 Investment in real estate, land development and infrastructure projects:
Residential Properties
€1.5 MILLION (plus V.A.T. if any)
Commercial Properties
€2 MILLION (plus V.A.T. if any)
In Addition to the required investments to proceed as follows:
a) To donate €75.000 to the Research and Innovation Foundation, or to invest at least €75.000 in a certified innovative enterprise
or a certified social enterprise.
The above obligation is lifted if the applicant has made an investment under the criterion for Purchase / Establishment /Participation in Cypriot Companies of a total amount equal to at least €400.000 in a company active within the primary, or secondary sector of the economy (excluding constructions), or in the sectors of research and development, education, health and renewable energy sources.
b) To donate €75.000 to the Cyprus Land development Corporation.
3. DONATION REQUIREMENTS
NOTES:
Any application which includes property already used for a previous Citizenship application by other applicant, increases the
amount of investment for the new Application to €2,5 million.
For Investments in real estate or land development, a Town-planning permit is required.
Curriculum Vitae(CV), for the investor, spouse & adult children
Birth Certificate for investor, spouse & children (official and certified translation*)
Criminal Record Certificate for the investor, spouse & adult children from the country of origin and the country of
residence (if different) (official and certified translation*)
Marriage Certificate (official and certified translation*)
2 photos for each family member
Adult Children - Certificate of attendance by an academic institution (original)
Due Diligence Report issued through an internationally accepted database.
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The documents with (*) require to be translated in English and bear the «APOSTILLE» Stamp OR be certified by the Ministry of foreign affairs of the country
that will issue them and also by the Cyprus Embassy of that Country and the Ministry of Foreign affairs in Cyprus.
Translation should be done by the Press and Information Office or by a Consular Authority of the issuing country or by a governmental department/ service
of the issuing country.
List of Required Personal Documents
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The Investor and spouse apply initially. They need to sign the application forms at Cypriot court or a Cyprus Embassy,
and the service provider will submit the applications with all necessary supporting documents.
Simultaneously with the submission of their application, they will also apply for Residence Permit (issued within 5
working days). They need to visit Cyprus to give biometrics for the residence permit.
The ministries of Interior and Finance examine the application and present it to the Council of Ministers for approval.
Provided they have Residence Permit for 6 months and following approval the Citizenship certificate is issued, they
can visit Cyprus to give biometrics, so that the Passports can be issued.
Children applications follow investor’s and spouse approval.
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APPLICATION PROCEDURE
Government Fees
Citizenship
Residence Permit
Applicant
Investor
Investor’s Spouce
Adult Children & Parents (Each)
Minor Child
Submission fee
€2.000
€2.000
€2.000
€80
Certificate Issuance Fee
€5.000
€5.000
€5.000
€150
TOTAL
€7.000
€7.000
€7.000
Passport & Id Issuance (Each)
Investor/investor’s spouse /children under 18
Adult children & Parents (each)
€500 & €70 for each person for registration
€570
George K. Konstantinou Law Firm is a fully licensed law firm established in
Limassol in 1983 by the head of our firm and practising partner George
Konstantinou. We are a dynamic, family run, and rapidly expanding law firm.
We have already acted for many International Clients in Permanent Residency
& Citizenship applications with 100% success rate. Furthermore, we have
considerable experience and in-depth knowledge of the Cyprus Immigration
by Investment Programs and property purchase procedures and laws.
What differentiate us, is the personal approach and care we give to each
new client and each new case. We are always available and ready to provide
solutions to any issue the client might face so that the procedures proceed
smoothly. Our immigration department is led by the head of our law firm
George Konstantinou and the partner Marios Konstantinou and legal
associate Stalo Konstantinou.
George Konstantinou Law Firm is a Registered Service Provider in the
Registry of the Cyprus Investment Programme Service Providers with Reg.
No. 110.
Why Us
George K. Konstantinou
Founder of the firmLawyer, Legal Consultant
Tel. +357 99667712
Marios G. Konstantinou
PartnerLawyer, Legal Consultant
Tel. +357 99929393
Stalo G. Konstantinou
Legal AssociateLawyer, Legal Consultant
Tel. +357 96217104
The George K. Konstantinou legal team has won Global Law Experts’ award for
Immigration Law Firm of the Year in Cyprus 2019.
Global Law Experts (GLE) is the premier guide to leading attorneys throughout the world.
L A W F I R MGeorge K. Konstantinou
55 Gladstonos, Roussos Center Point, 5th Floor, Office 5E, 3040 Limassol, Cyprus
Tel.: +357 25368683 | Mob.: +357 99929393 | Fax: +357 25345892
[email protected] | www.gk-lawfirm.com
