Following a decision by the Cabinet of Ministers in October 2020, the Cyprus Citizenship by Investment Programme has been terminated as of 1 November 2020. Outstanding applications are currently being evaluated. Should there by any updates, we will inform our readers on this page.
The information listed below is for reference only.
In addition to the main investor, Cyprus citizenship is also granted to the investor’s family. This includes:
The investor’s spouse (wife or husband)
The investor’s financially-dependent children (to 18 years old)
The investor’s adult children
The investor’s parents
This benefit requires structuring an investment carefully, and applying in the right way.
The Cyprus Ministry of Interior provides the following clarifications on Cyprus citizenship by investment for family members*:
According to abovementioned decision and the relevant legislation, the parents, the financially dependent adult children (18 years old and above) and the minor children (under 18 years old) may apply for citizenship after the acquisition of the Cypriot citizenship by the investor.
However, concerning the investor’s spouse or partner the Council of Ministers decided to allow the submission of his/her (spouse’s or partner’s) application along with the application of the investor, so that both spouses/ partners will be able to acquire the Cypriot citizenship simultaneously.
It is noted that the aforementioned decision clearly stipulates that the applicant must have a clean criminal record. Furthermore, his/her name must not be included in the list of persons whose assets, within the boundaries of the European Union, have been frozen as the result of sanctions.
Additionally, an applicant whose application for citizenship in any other member-state of the European Union had been rejected, is not eligible to apply for the acquisition of the Cypriot citizenship through the Cypriot Investment Programme.
Furthermore, the applicant must hold a valid Schengen visa. Third-Country nationals that do not require an entry visa for travelling in European Union member-states, as well as citizens of European Union Member States are excluded from this obligation.
Moreover, it is also noted that, according to the provisions of the abovementioned decision, the adult family members of the investor prior to their naturalization as Cypriot citizens must hold a residence permit in Cyprus for a period of at least 6 (six) months.
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. The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus for a period of at least 6 (six) months.
In case the application for acquiring an immigration permit will be submitted solely for the purposes of acquiring the Cypriot citizenship, there are no other conditions than those stated in the Programme the details of which are explained below.
Finally, if the application for naturalization is for any reason rejected, the immigration permit, obtained in accordance with the provisions of this decision, will be canceled immediately.
The investor’s spouse or partner may acquire the Cypriot citizenship after filing the relevant application (Form M127). The applications are filed at the Ministry of Interior. In order to facilitate the procedure of the acquisition of the Cypriot citizenship by the investor’s partner or spouse, the Council of Ministers decided to allow the submission of the spouse’s or partner’s application along with the application of the investor, so that both spouses/ partners will be able to acquire the Cypriot citizenship simultaneously.
Furthermore, the decision of the Council of Ministers clarifies that for the purposes of the Programme the term partner is interpreted in accordance with the provisions of the Civil Partnership Law 184(I)/2015.
According to this law the State recognizes any civil partnership that had been concluded in the Republic of Cyprus, or any other state in accordance with the legislation of that state and that is still in force.
The application for the grant of the Cypriot citizenship to the children of the investor that are under the age of eighteen is submitted after the investor had acquired the Cypriot citizenship and provided that the other parent consents to the grant of the citizenship. The application is filed at the Civil Registry and Migration Department
The right to apply for citizenship is also granted to the financially dependent adult children of the Investor. The decision of the Council of Ministers has determined that it will regard as financially dependent adult children individuals belonging to one of the below categories:
students up to the age of 28 that are attending an institution of higher education aiming to obtain a diploma or an undergraduate or a master’s degree. The decision excludes individuals who are studying for the acquisition of a professional qualification (e.g. chartered accountants or barrister).
children with severe physical or mental disability that renders them unable to work.
The application can be submitted after the investor had acquired the Cypriot citizenship. These applications (Form M127) are filed at the Ministry of Interior.
The parents of the investor may apply for citizenship after the investor had acquired the Cypriot citizenship. These applications (Form M127) are filed at the Ministry of Interior. In order for the investor’s parents to be able to apply for citizenship they need to hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.
It is noted the investor and his/her parents, may collectively acquire a residence, provided that the total value of this home-property is at least €1.000.000, plus V.A.T.
For further information on the due diligence 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.