CYPRUS INVESTMENT PROGRAM

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T YPE

Choose the type of investment

Gather investment and personal documents for the main applicant & the family

File application for Cyprus Citizenship at the Ministry of Interior

Visit the island for one day, in order to receive your Cyprus Permanent Residency Card. The investor should hold the permanent residency card for at least 6 months

Examination of the application is processed by Ministry of Interior and Ministry of Finance

Final examination and approval takes place by the Council of Ministers

Examination of the application will take at least 6 months from the date of the issuance of the permanent residency card

Issuance of Naturalisation Certificate

Visit the island for one day to complete Naturalisation

Step 1 –

Step 2 –

Step 3 –

Step 4 –

Step 5 –

Step 6 –

Step 7 –

Step 8 –

Step 9 –

ABOUT US

Christodoulos G. Vassiliades & Co. LLC was established by Mr. Christodoulos G. Vassiliades in 1984 in Nicosia, Cyprus. With more than 30 years’ experience, the Firm is presently universally cited as one of the leading law firms in Cyprus.

Our mission is to develop personal and long lasting relationships with our clients in order to understand their needs and to secure their interests, by finding solutions to best suit each particular case.

THE CYPRUS INVESTMENT PROGRAM

• The program is regulated by the Committee of Supervision and Control• The applicant must possess a permanent

privately-owned residence in the Republic of Cyprus at the purchase price

of at least €500.000, plus vat, where applicable

• Reasonable investment amounting of at least €2.000.000 plus VAT

• All licensed service providers have to follow a strict code of conduct

• The investment can be released 3 years after the approval of becoming Cypriot Citizen

• Obtaining Permanent Residence Permit without the requirement of a continuous physical presence in Cyprus

• VISA FREE travel to more than 160 countries• Quota of 700 applications per year, with

effect from 2018

WHO IS ELIGIBLE

• Any investor who is 18 years old and above• Spouse and financially dependent children of the

investor up to the age of 28• Parents of the investor, subject to acquiring

residential property of at least €500.000 +VAT

PROCEDURE

LEDRA HOUSE, 15 Agiou Pavlou Str, Agios Andreas, 1105, Nicosia, CyprusTel: +357 22 55 66 77 / Fax: +357 22 55 66 88

Marianna PavlidesHead of the Immigration DepartmentAdvocateE-mail: mariannap@vasslaw.net

Christodoulos G. VassiliadesManaging Director

AdvocateE-mail: cgv@vasslaw.net

CONTACT US:

T YPE REQUIREMENT AMOUNT PERIOD

Investing in real estate developments & infrastructure projects

Purchase or incorporation or participation in Cypriot businesses & companies

Investing in Cyprus Alternative Funds (AIF’S) or financial assets of Cypriot organisations licensed by “CYSEC”

€2.000.000

€2.000.000

€2.000.000

€2.000.000

3 years

3 years

3 years

3 years

Investing in real estate the amount of at least €2.000.000. Purchase a readymade immovable property or invest in construction of buildings for any land devel opment either residential or commer cial, or any property related to the tourism sector or otherwise, including investment in land.

The applicant should purchase, incorporate or participate in companies established and operating in Cyprus with investment costs of at least €2.000.000. These invested funds will be channeled to finance the investment objective of the companies, according to their business plan.

Additionally the companies must have physical presence in Cyprus, with significant activity and turnover, and must employ at least five Cypriot or European citizens. The employees should be registered and reside in Cyprus for at least five years prior submission of the application.

The applicant should invest in units of at least €2.000.000 of AIF’s established, licensed and supervised in Cyprus by CYSEC.

Such investments should be made exclusively in Cyprus and should meet the criteria of the scheme and should be approved by the Minister of Finance.

Acquisition of financial assets in Cypriot businesses or organization of at least €2.000.000, such as bonds, bills and securities issued by companies that have demonstrated physical presence and substantial economic activity in Cyprus should be maintained for a period of 3 years.

The applicant may make a combination of the above investment options, provided that the total investment amounts to at least €2.000.000.

Under this criteria, the investor may also invest in government bonds of Cyprus for the amount of up to €500.000, which will be issued by the Public Debt Management Office of the Ministry of Finance.

Combination of the above investments

Designed by: Christodoulos G. Vassiliades & Co. LLC

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

© 2018 Christodoulos G. Vassiliades & Co. LLC. All rights reserved. Please see www.vasslaw.com for further details.

CAUTION: The information in this booklet does not create a precedent. It is intend-ed only as a general guide and is not to be relied upon as the basis for any decisions or outcome on the subject matter. Professional advice and consultation by lawyers as applicable to the specific matter in question and in accordance to the laws and regulations in force at that time, must be obtained.