CYPRUS INVESTMENT PROGRAM


CYPRUS INVESTMENT PROGRAM

Based on the programme, a non – Cypriot citizen who meets the criteria and have made the necessary investments may apply for the acquisition of Cyprus citizenship with an exception Naturalization.

About us

MA Employment & Immigration Services is a Consulting Agency founded in 2002 and licensed to operate in Cyprus and Austria.

We offer high-net-worth individuals the acquisition of residence or citizenship by investment overseeing the completion of the process until the very end.

Customized solutions provided in order to enable our clients to overcome visa restrictions. 

Additionally, a social safety net in Europe and an optimized tax residence advice are offered by our consultants.

We specialize on immigration programs established by the Cyprus government and other EU member states.

Primary concerns of our service strategy

We set the goals
We set out the major tasks and objectives of our clients and based on that we choose and recommend the right program so that the client acquires either second citizenship or resident status in Cyprus or any other EU member state.
We provide solutions
According to the requirements of government investment programs, a professional framework of services in addressing the clients’ needs is provided within a set time frame.
We supervise the process
A professional assistance throughout the process and, from beginning to end, consultation about clients’ residence status and return on investment fully provided by our experts.

Why choose us?
Official representative
We officially represent the Cyprus Investment Program - No intermediaries, dishonest freelancers or additional hidden costs.

Personal approach at all stages
Our clients are provided with fully qualified advisory support and guidance from beginning to the end of the process, and if so until they obtain their passports.

Responsibility and confidentiality
We are fully responsible for the accuracy of submitting the documents and we guarantee confidentiality of your personal data and sources of investment.
Our team members are fully committed to work under the non-disclosure statement.

Service and support
Our rendered services also include translations, certifications, apostille requirements, and the completion of all relevant forms. We additionally provide professional advice on each and every aspect of your application as well as writing reference letters where necessary.

Investor’s Eligibility to Cypriot Citizenship

The main applicant must be of at least 18 years of age. Applicant’s spouse, minors as well as financially dependent adult children up to the age of 28 who are attending a higher education institution to obtain diploma, undergraduate or a master’s degree.

The investor must provide a clean criminal record.

The purchase of a private residential property in Cyprus of a minimum value of €500.000 (+VAT) is required. The private residential property must never be disposed in any case in the future although it may be substituted with another property of an equal or higher value.

Investment Criteria

In addition to the purchase of a private residence at a minimum price of €500.000 (+VAT), the applicant must invest €2 million as follows:
·       
  •      Real estate, land development and infrastructure projects
  •         Financial Assets of Cypriot companies and/ or Cypriot organisations
  •         Alternative investment funds of financial assets of Cypriot companies and/ or Cypriot organisations licensed by CySec
  •      Combination of the aforesaid investments


Special Note: Total investment amount €2 million – It applies only in the case that the applicant has invested in housing unit/ units within the criterion “real estate, land development and infrastructure”. In such a case, the purchase of another private residence is not required provided that at least one of those units is worth at least €500.000 (+vat).

Residential Investment Packages

A variety of residential investment packages are provided by our construction and property development associates which secure best residential locations and investment returns for 3 years payable in advance. 


IMPORTANT NOTE:

On February 13, 2019, the Cabinet approved a series of changes to make the Cyprus Investment Programme even more targeted and trustworthy.

The most significant changes were pointed out as follows:
The mandatory contribution to the Foundation for Research and Innovation to further encourage the creation of an eco-system of business innovation and the mandatory contribution to the Cyprus Land Development Corporation in order to finance affordable housing.

The main changes on the plan are:

A mandatory donation of € 75,000 to the Foundation for Research and Innovation to promote the creation of an entrepreneurial innovation ecosystem, an obligation that can be waived under certain conditions.

A mandatory donation of € 75,000 to the Cyprus Land Development Corporation, aiming at the contribution to the integrated housing policy, specifically for the purpose of implementing affordable housing projects and the implementation of other housing plans / measures.

The inclusion of investments in the shipping sector in the eligible investments, on the basis of specific measurable criteria.

The inclusion of investment in Registered Alternative Investment Funds in the eligible investments, as well as the possibility for these Organizations to invest up to € 200,000 in Cyprus Stock Exchange’s secondary market.

Obligation to maintain the required investments for a period of at least 5 years from the date of naturalization, instead of 3 years.

A complete abolition of investment in government bonds as an acceptable investment within the Programme.

Where the investment relates to the purchase of real estate or property as well as in the case of a permanent homeowner, a planning permission, a completion certificate and a bank waiver will be required.

The applicant must have a Schengen visa in order to be able to apply for naturalization.

An applicant who has applied for the acquisition of citizenship in any other Member State of the European Union and has been rejected will not be entitled to acquire Cypriot citizenship within the framework of the Cyprus Investment Programme.

The applicant should be in possession of a residence permit in the Republic of Cyprus for at least six (6) months prior to naturalization as a Cypriot citizen.

An Annual Implementation Report that includes the number of naturalizations, nationality of the applicants and the sector in which the investments were made will be prepared for the sake of transparency and correct information.

Latest update on a decision of the Council of Ministers that was taken during its previous meeting and concerns a clarification on the Cyprus Investment Programme:

Specifically, in accordance with the decision of the Council of Ministers dated 13.2.2019 investors, who will submit an application on the basis of the Cyprus Investment Programme from the 15th of May 2019 and onwards, are obliged to meet the criterion A.1 (Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation). However, it was brought to our attention that there are investors, who have been informed on the Programme prior to 13th of February 2019, and will not be able to submit their citizenship applications prior to the 15th of May 2019. 

Consequently, in order to provide a solution for the aforementioned matter, the Council of Ministers, during its meeting held on the 6th of May 2019, decided that investors, who have concluded agreement/agreements for the purchase of immovable property – either within the framework of criterion Α.2 (Investment in real estate, land development and infrastructure projects) or aiming at the fulfillment of the requirement for the possession of a privately-owned residence in Cyprus – will be exempted from the obligatory fulfillment of the aforementioned criterion A.1 (Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation), provided that the purchase agreement/s will be stamped until the 15th of May 2019 and will bear a seal of the Stamp Duties Commissioner dated until the 15th of May (included).

Finally, it is noted that, according to the decision of the Council of Ministers, the abovementioned exemption will be in force for applications that will be submitted until the 15th of July 2019 (in cluded). Also, It goes without saying that all the other provisions of the Programme dated 15.5.2019 (e.g. possession of a Schengen Visa etc.) will be in force from the 15th of May and onwards.       

In any case, owing to the imminent commencement of the Programme of the 15th of May 2019 and to the fact that there will certainly be applications that will not fall within the framework of the exemption described above, I would like to provide information on the  bank accounts of the Organizations mentioned in Criterion A.1 (Donation to the Research and Innovation Foundation and the Cyprus Land Development Corporation). 

These accounts are the following:  

Research and Innovation Foundation

Cyprus Development Bank Ltd:
Bank Address: 50 Makarios III Avenue, Xenios Building, 1065 Nicosia
IBAN: CY73 0140 0101 0101 0100 0325 6017
SWIFT: CYDBCY2N

Hellenic Bank Ltd:
Bank Address: 34 Dimostheni Severi, 1080 Ayioi Omoloyites Nicosia  
IBAN: CY18 0050 0106 0001 0601 0795 4302
SWIFT: HEBACY2N

Bank of Cyprus Public Company Ltd:
Bank Address: Strovolos Avenue, P.O. Box 21472, 1599 Nicosia
IBAN: CY09 0020 0195 0000 3570 2128 4101
SWIFT: BCYPCY2N

Cyprus Land Development Corporation

National Bank of Greece (Cyprus):
Bank Address: 7-9 Griva Digeni Avenue, P.O. Box 21191, 1597 Nicosia
IBAN: CY56 0060 0525 0000 0052 5584 0056
SWIFT: ETHNCY2N

Hellenic Bank Ltd:
Bank Address: 92 Digheni Akrita Avenue, 1061 Nicosia  
IBAN: CY91 0050 0115 0001 1501 0232 5601
SWIFT: HEBACY2N

Bank of Cyprus Public Company Ltd:
Bank Address: 12 Kyriakou Matsi, 1082 Nicosia (Branch Ayioi Omoloyites)
IBAN: CY27 0020 0182 0000 0001 0031 3600

SWIFT: BCYPCY2N


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