DOCUMENTATION NEEDED

The following documentation is established by the Ministry of Interior in order to apply for Cyprus Citizenship by Investment*:

 

1. Clean Criminal Record

 

    a) Certificate of Clean Criminal Record from the country of origin and the country of residence (if different).

 

    b) Due Diligence Report issued through an internationally accepted database ensured through a subscription (e.g. Wolrd Check, LexisNexis Diligence, Regulatory DataCorp Inc. etc.). The report must be dated no later than thirty days from the date of its submission.

   c) Declaration by the applicant concerning any citizenship applications he/she may have submitted in any other member-state or member-states of the European Union.

 

2. Schengen Visa

 

Copy of a valid Schengen Visa

 

3. Residence in the Republic of Cyprus

 

  a) Contract of Sale.

  b) Title Deeds or Proof of Registration of the contract with the Lands and Surveys Department.

  c) Proof of payment of the agreed purchase price.

  d) Copy of the wire transfer to a Cypriot commercial banking institution in the name of the seller or the seller’s company.

  e) An evaluation certificate from an independent registered land surveyor, if required by the Ministry of Interior or the Ministry of Finance.

  f) Town-planning permit, provided that it is required by the Town and Country Planning Law.

  g) Declaration by the mortgage lender in the benefit of whom the purchased property or properties is mortgaged that will waive the mortgage, provided that the investor or the seller will pay the lender the amount conscribed in the declaration (bank waiver).

  h) Project completion certificate signed by the architect of the project. If the purchased property is under construction it is required either to maintain an amount equal to the 5% of the purchase value in a special account or for the seller to issue in the benefit of the purchaser a performance bank guarantee equal to the 5% of the purchase value.

 

3. Criteria regarding the investment (when applicable)

 

  a) Certificate of Registration of the company/ companies by the Registrar of Companies.

  b) Certificate of shareholders by the Registrar of Companies or certificates evidencing that the applicant is the beneficiary owner of the company/ companies.

  c) Audited accounts of the company (or companies) for the last three years preceding the year of the application.

  d) If the applicant is a high-ranking senior manager, the submission of the employment contract and the receipt from the Department of Inland Revenue are additionally required.

  e) If the investment is made by the spouse of the applicant or jointly, a marriage certificate is required.

 

Furthermore, depending on the case, the following are required:

 

  1. Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation

 

  a) Copy of the wire transfer of the donation to the Research and Innovation Foundation to an account in a Cypriot commercial banking institution in the name of the Foundation.

  b) Copy of the wire transfer of the donation to the Cyprus Land Development Corporation to an account in a Cypriot commercial banking institution in the name of the Corporation.

  c) Innovative enterprise certificate.

  d) Investment Agreement in Cypriot company or companies.

  e) Proof of payment of the agreed amount.

  f) Certificate of shareholders by the Registrar of Companies.

  g) Copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization.

  h) Specific investment plan.

  i) Copies of the employment contracts of the Cypriot or European Union citizens employed by the company in which the applicant has invested.

  j) Confirmation from the Social Insurance Department as to the insurable income of the Cypriot or European Union citizens employed in the company.

  k) Registration Certificate (MEU1) or Permanent Registration Certificate of Union Citizen (MEU3) for employees that are European Union citizens.

 

2. Investment in real estate, land development and infrastructure projects

 

  a) Contract of sale.

  b) Title Deeds or Proof of Registration of the contract with the Lands and Surveys​

  c) Proofs of payment of the agreed purchase price.

  d) Copy of the wire transfer to a Cypriot commercial banking institution in the name of the seller or the seller’s company.

  e) An evaluation certificate from an independent registered land surveyor, if required by the Ministry of Interior or the Ministry of Finance.

  f) Investment Plan for the development of the purchased land, if the investment involves the purchase of land under development.

  g) Town-planning permit, provided that it is required by the Town and Country Planning Law.

  h) Declaration by the mortgage lender in the benefit of whom the purchased property or properties is mortgaged that will waive the mortgage, provided that the investor or the seller will pay the lender the amount conscribed in the declaration (bank waiver).

  i) Project completion certificate signed by the architect of the project. If the purchased property is under construction it is required either to maintain an amount equal to the 5% of the purchase value in a special account or for the seller to issue in the benefit of the purchaser a performance bank guarantee equal to the 5% of the purchase value.

3. Purchase or Establishment or Participation in Cypriot Companies or Businesses

  a) Investment Agreement in Cypriot company or companies.

  b) Proof of payment of the agreed amount.

  c) Certificate of shareholders by the Registrar of Companies.

  d) Copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization.

  e) Specific investment plan.

  f) Copies of the employment contracts of the Cypriot or European Union citizens employed by the company in which the applicant has invested.

  g) Confirmation from the Social Insurance Department as to the insurable income of the Cypriot or European Union citizens employed in the company.

Registration Certificate (MEU1) or Permanent Registration Certificate of Union Citizen (MEU3) for employees that are European Union citizens.

 

4. Investment in Alternative Investment Funds or Registered Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by Cyprus Securities and Exchange Commission:

 

  a) Title/Titles and other relevant documents of the financial assets / units purchased.

  b) Copy of the wire transfer to a Cypriot commercial banking institution in the name of the company or the organization.

  c) Specific investment plan.

  d) Confirmation by the CySec.

For further information on the application documentation conditions for Cyprus citizenship by investment, please contact us.

 

* The italic text has been copied from the Cyprus Ministry of Interior website, and can be accessed here.