Cyprus has become an attractive option for high-net-worth individuals seeking citizenship within the European Union. Elena Kozyreva, Managing Director for Real Estate projects, Investment Programs Expert at Immigrant Invest, explains how to get Cyprus permanent residence and the benefits of countries’ citizenship.

Main pathways to get Cyprus citizenship

Cyprus citizenship after residence permit. The Cyprus investment program offers permanent residence, which can later lead to citizenship. It requires an investment of at least €300,000 in real estate.

Applicants must also show proof of stable income from abroad and maintain their investment for at least five years. After the eight-year period, investors may be eligible to apply for citizenship.

Foreigners can’t invest in Cyprus passports directly anymore. This option is no longer available.

Cyprus citizenship by marriage. Foreigners married to Cypriot citizens can apply for citizenship after three years of marriage. A significant benefit is that this process does not require an investment.

The applicant must show evidence of cohabitation and shared life with the Cypriot spouse. This is a faster process compared to naturalisation, but it is limited to those married to Cypriots.

Cyprus citizenship by naturalisation. This is an option for foreigners who have legally resided in Cyprus for at least seven years.

To qualify, the applicant must have a clean criminal record, meet residency requirements, and prove sufficient ties to Cyprus. This path is more time-consuming compared to the investment route and often involves stricter scrutiny from immigration authorities.

9 benefits of Cyprus citizenship

1. EU membership. Cyprus citizens have the right to live, work, and study in any EU member state. This opens up opportunities across Europe.

2. Visa-free travel. Cyprus passport holders can travel to over 160 countries without needing a visa. This includes the Schengen Area, the UK, and Canada.

3. Security for family members. Citizenship extends to immediate family members, including spouses and children, providing security for future generations.

4. Favourable tax regime. Cyprus offers one of the most attractive tax systems in Europe, with no inheritance or wealth tax.

5. Dual citizenship allowed. Cyprus allows dual citizenship, so you don’t need to renounce your original nationality.

5. Stable investment environment. Cyprus has a robust economy, with strong growth in real estate, tourism, and financial services.

7. High quality of life. Cyprus offers excellent healthcare, education, and a Mediterranean lifestyle, making it a desirable place to live.

8. Access to global markets. Cyprus serves as a gateway to both European and Middle Eastern markets.

9. Permanent residency as a backup plan. Even if citizenship takes time, having permanent residency offers flexibility and security.

What is Cyprus permanent residence permit by investment

Investors who meet certain criteria can apply for a permanent residence permit. This permit is part of Cyprus’s residency-by-investment program and requires a real estate investment of at least €300,000.

The applicant and their family members, including spouse and children can also obtain residence status under this permit. The process takes nine months for approval.

Documents required:

• a valid passport;
• proof of investment;
• financial statements;
• police records;
• health insurance.

One of the advantages of this permit is that investors do not need to live in Cyprus full-time. Visiting the country at least once every two years is enough to maintain the residence status. This allows flexibility for investors who live or work in other countries. For many international businesspeople, this is a critical advantage since they do not have to commit to relocating immediately.

While permanent residence allows individuals to live in Cyprus, it does not automatically grant the right to work. Separate work permits must be obtained if the applicant wants to engage in employment activities. However, they can still manage businesses or companies based in Cyprus, which makes the program attractive for entrepreneurs.

How to get Cyprus citizenship after investment residence permit

Cyprus citizenship after residence. Cyprus citizenship after permanent residence to full citizenship, an investor must hold the permanent residence permit for at least eight years. During this period, the investment in Cyprus must be maintained. Once the eight-year requirement is fulfilled, the applicant can submit an application for Cyprus citizenship through naturalisation.

Application process. The application for citizenship involves providing proof of residence, investment, and other personal documents like passports and financial records. The processing time for citizenship applications typically ranges from one to two years. During this period, applicants may be subject to interviews or additional checks to verify their continued eligibility.

Language or residency requirements. Unlike other countries, Cyprus does not impose strict language requirements. However, applicants need to demonstrate their long-term commitment to Cyprus, which may include having a residence and maintaining their investment in the country. While fluency in Greek is not mandatory, having basic knowledge of the local language can be helpful.

Conclusion

Cyprus offers several pathways to citizenship, each tailored to different needs, including investment, marriage, or long-term residence. The most efficient way is through the Cyprus Permanent Residence program, which leads to citizenship after eight years of residency. With benefits ranging from EU membership to tax advantages, Cyprus citizenship is a highly attractive option for high-net-worth individuals.