Cyprus Second Passport
In order to obtain a Cyprus second passport, you must first be eligible to become a citizen of Cyprus. Individuals seeking Cypriot citizenship need to meet certain requirements to qualify for the relevant investment immigration program. An investment immigration or second passport program as it is commonly referred to, involves individuals investing substantial amounts of money into the Cypriot economy, in return for citizenship status.
EFSAG offer expert advice and guidance in relation to obtaining a Cypriot second passport. To proceed with the second passport program, please complete our Application form. Alternatively to speak with a member of our team regarding your Cyprus citizenship, please Contact Us.
Obtain Cyprus Second Passport
As an investor seeking to obtain full Cypriot citizenship, there are certain criteria that need to be satisfied. According to the new criteria Cypriot citizenship may be granted in exceptional cases to an alien/foreign businessman, aged 30 years and older with no criminal records, who owns property in Cyprus, the value of which exceeds EUR 1 million in current market prices. The applicant must also meet one of the following five conditions, as listed below:
Direct Investment – individuals who wish to obtain a Cyprus second passport must directly invest in the Cyprus economy of a minimum amount of EUR 10 million. This includes investment in property markets, registered companies, equities and securities registered in Cyprus.
Company – applicants that wish to be successful in acquiring a Cyprus second passport must register and establish a company in Cyprus that has an aggregate turnover exceeding EUR 10 million on average per year for at least 3 years before application. Additionally, 1/3 of employees must be Cypriot citizens.
Bank Deposits – applicants seeking a Cyprus second passport must demonstrate that they have a substantial amount of money deposited in a Cyprus bank, private company, trusts or a privately owned company. The amount of money that has to be deposited must exceed EUR 15 million for at least a period of 5 years.
Combination of Direct Investment, Entrepreneurial Activities and Bank Deposits – individuals that wish to acquire a Cyprus second passport can combine the above mentioned methods, provided that the total investment exceed a total of EUR 15 million.
Entrepreneurial activity – applicants who wish to attain Cypriot citizenship have to manage operational Cyprus company/companies for a minimum of 3 years preceding the year of application, which has to pay the Cyprus government income tax, VAT or payment of business services and fees to lawyers, accounts and auditors, banking etc of a minimum of EUR 500,000 per year on average.
Cyprus Second Passport Requirements
It is important to fulfill certain requirements in order to qualify for a Cyprus second passport program;
Business experience: individuals who wish to acquire a Cyprus second passport through entrepreneurial activity must provide necessary documents proving their experience and educational qualifications.
Medical requirements: individuals and family members must undergo a medical examination to ensure they do not have a disease or severe medical conditions.
Police certificates: police clearance certificates must be submitted as part of your citizenship application.
Financial Standing: applicants must present bank statements demonstrating that they are in good financial standing and will be able to support their living expenses in Cyprus.
Payment of fees: all applicants must pay for their application processing fees.
Advantages of obtaining a Cyprus second passport
- Citizens are able to benefit from all rights of a natural born Cypriot citizen
- Practice their legal rights
- Unrestricted travel in all 27 EU member states
- Right to reside in all 27 EU countries without additional documentation required
- Right to work in all 27 EU member countries without obtaining a work permit
- Right to buy property
- Enjoy government welfare benefits such as unemployment and health allowances
How EFSAG can assist with a Cyprus Second Passport
EFSAG can assist with every stage of the Cyprus second passport acquisition process and will advise you on the necessary stages that must be carried out. The applicable stages of initiating investment immigration include;
Jurisdictional rights: We will advise you on your rights, benefits, restrictions and obligations should you wish to obtain Cyprus second citizenship. We will guide you in understanding Cyprus as a location for investment immigration and ensure your desired citizenship goals and requirements are met.
Guidance on investments: We can advise you on the most suitable Cyprus investment choice that will meet your overall needs in accordance with your financial limitations
Administering documentation: We offer support, guidance and administration services in relation to the correct completion of your documentation and subsequent presentation of the documents to your chosen country.
Legal compliance: We offer comprehensive support with the complete investment immigration process to achieve citizenship in your selected country, from the filing of initial applications to informing applicants on how to invest in line with the relevant laws of that country. We can also guide individuals on how to maintain their citizenship status in compliance with the necessary immigration rules.