CYPRUS CITIZENSHIP BY INVESTMENT PROGRAMME 2020

South African nationals can apply for Cypriot citizenship through naturalisation by exception and enjoy the benefits of being citizens of the European Union, subject to meeting specific criteria and fulfilling terms and conditions set by the Cypriot government.

An investment of no less than €2 million in residential real estate, which must be maintained for a period of at least 3 years, typically constitutes the basis upon which applications are made by high net worth foreigners.

In the context of second residency and citizenship, the concepts are widely used interchangeably.

Yet in the strict sense of the word, only Cyprus offers citizenship by investment. The programme enables high net worth individuals of good standing to apply for citizenship and a passport in Cyprus outright. In 2018 the programme was renamed to the Cyprus Investment Programme, with more stringent criteria intended to curb abuses of the programme by people of dubious repute.

Investment requirements – allocation options

The investment requirement to obtain citizenship is an investment of €2 million in residential real estate. For those wishing to gain citizenship through commercial property investment, the requirement is €2 million in commercial property, and an additional €500,000 in residential real estate. There is also the option to invest €2 million in residential realty, and €500,000 in government issued bonds.

NB: The programme requires second citizenship holders to possess a property worth at least €500,000 at all times in order to maintain their citizenship status.

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KEY BENEFITS OF CYPRIOT CITIZENSHIP

Frequently referred to as the Golden Passport Programme, the scheme is credited with helping Cyprus recover from the financial crisis. Here are some of the reasons the programme has proved so popular among international investors:

Speed and efficiency: The Cyprus Citizenship By Investment programme is one of the fastest schemes of its kind in terms of obtaining EU residency and citizenship by investment. From commencement of the application process, Cypriot residency rights can be obtained in 1 to 2 months. The programme then offers applicants the ability to obtain approval of their Cypriot citizenship application within 6 months, thereby also becoming eligible to receive a Cypriot passport.

Family Included: The Cypriot investment citizenship scheme makes provision for applicants’ dependent children up to the age of 28 years, and even their parents are eligible to apply. Civil union based partners can also be included under the primary application.

Unparalleled Lifestyle: Enjoy a sun-drenched Mediterranean lifestyle in a strategically central location. Cyprus is an internationally sought after travel destination, making avenues such as Airbnb viable in terms of sweating your residential property asset. It also boasts excellent educational and healthcare standards, making it a very compelling second home or primary retirement destination.

Freedom of movement: Enjoy the right to travel, study and live visa free across the European Union, and travel visa free to countries such as Hong Kong, Canada and Australia.

Sound investment: Invest in residential or commercial property, or opt for investment in infrastructure or developmental projects.

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ABOUT MAIDEN & ASSOCIATES

Maiden & Associates are South Africa’s leaders when it comes to second citizenship applications in the EU and Turkey. Having assisted hundreds of South African families and boasting 100% success rate, we are well placed to assist you and your family in establishing a foothold in Europe.

Sound investment: Invest in residential or commercial property, or opt for investment in infrastructure or developmental projects.

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Get your Plan B in place with the Cypriot Citizenship Programme. Investments from €2 million excluding fees. Limited slots – contact us now.

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