CYPRUS
An important hub in the heart of the Mediterranean, at the crossroads of Europe, Africa and Asia, Cyprus is diverse, culturally rich and perfectly placed for working and traveling within and beyond the European Union. The economy is rapidly recovering from recent recession through significant activities in the shipping, tourism, the legal and financial services sectors, and has also seen a surge in foreign investments and developments, property and investment values.
Citizenship-by-Investment Program
QUALIFICATIONS
WHY CHOOSE CYPRUS?
Investment criteria
Cyprus boasts a rich and diverse culture, mild Mediterranean climate, a safe and stable setting which is ideal for raising families, and perfect location for business and travelling. Investors also look at Cyprus for business and investment purposes recognizing numerous investment opportunities.
Offered in accordance with the Civil Registry Laws 20022013, the Naturalization of Investors by Exception Scheme is one of the fastest to lead to residence and citizenship in Europe. To qualify for application, you will need to meet one of the requirements outlined in the “Investment Options” section.
Benefits of the program Fast-track procedure allowing for direct path to
Application criteria
LOCATION citizenship within three months; ARTON INDEX South Eastern Europe, island in In addition to making a financial investment, applicants the Mediterranean Sea residence requirements during or after No physical must also meet the following requirements: CAPITAL Nicosia
Must have a valid passport;
the application procedure (the only requirement is for one visit every 7 years);
Provide documents supporting the source and originTIME DIFFERENCE No language requirements for residence UTC +2 of the declared funds for investment; or citizenship; Provide proof that the applicant has no criminal record;
TOTAL AREA 9,251 km 2 No obligation to relinquish current nationality;
Pay the application fees.
LANGUAGE Right to own land in anPopulation EU member state; Greek, Turkish, Growth English widely spoken 1.52%
70
AGE DEMOGRAPHICS Low tax rates and free trade within the EU; The applicant’s name must not be included in the list0-14: 15.8%, 15-24: 15.8%, 55-64:system 10.6%, based on English common law; of persons whose property is ordered to be frozen 25-54: 46.9%,Legal 65+: 11.0% within the boundaries of the EU; Unrestricted right to live, work and study in Europe;
12 15
COST
SPEED
16
GLOBAL MOBILITY
1,155,403
7
QUALITY OF LIFE
20
SIMPLICITY
Updated yearly, the Arton Index is an overall assessment and comparative benchmark of the country and its investment program
Strategic geographical location, forming a bridge
RELIGIONS between the EU, the Middle East, and North Africa Greek Orthodox, Muslim, with direct access to the Mediterranean Sea; other GDP (per capita) LowTYPE crime rate, excellent education system with a GOVERNMENT GDP (purchasing power parity) Presidential democracy number of high standard schools and universities 23.36 billion USD (2012) CURRENCY and first-rate healthcare; Euro (EUR)
26,800 USD
155
An outstanding holiday destination.
EXCHANGE RATE 1 USD = 0.78 EUR (2012)
CYPRUS CITIZENSHIP-BY-INVESTMENT PROGRAM
Visa free countries
An Animportant importanthub hubin inthe theheart heartofofthe theMediterranean, Mediterranean,at atthe thecrossroads crossroadsofofEurope, Europe,Africa Africaand andAsia, Asia, Cyprus Cyprusisisdiverse, diverse,culturally culturallyrich richand andperfectly perfectlyplaced placedfor forworking workingand andtraveling travelingwithin withinand andbeyond beyond the theEuropean EuropeanUnion. Union.The Theeconomy economyisisrapidly rapidlyrecovering recoveringfrom fromrecent recentrecession recessionthrough throughsignificant significant activities activitiesin inthe theshipping, shipping,tourism, tourism,the thelegal legaland andfinancial financialservices servicessectors, sectors,and andhas hasalso alsoseen seenaa surge surgein inforeign foreigninvestments investmentsand anddevelopments, developments,property propertyand andinvestment investmentvalues. values.
QUALIFICATIONS QUALIFICATIONS
WHY WHY CHOOSE CHOOSE CYPRUS? CYPRUS?
Investment Investmentcriteria criteria
Cyprus Cyprusboasts boastsaarich richand anddiverse diverseculture, culture,mild mild Mediterranean Mediterraneanclimate, climate,aasafe safeand andstable stablesetting settingwhich which isisideal idealfor forraising raisingfamilies, families,and andperfect perfectlocation locationfor for business businessand andtravelling. travelling.Investors Investorsalso alsolook lookatatCyprus Cyprusfor for business businessand andinvestment investmentpurposes purposesrecognizing recognizingnumerous numerous investment investmentopportunities. opportunities.
Offered Offeredininaccordance accordancewith withthe theCivil CivilRegistry RegistryLaws Laws200220022013, 2013,the theNaturalization NaturalizationofofInvestors Investorsby byException ExceptionScheme Scheme isisone oneofofthe thefastest fastesttotolead leadtotoresidence residenceand andcitizenship citizenshipinin Europe. Europe.To Toqualify qualifyfor forapplication, application,you youwill willneed needtotomeet meetone one ofofthe therequirements requirementsoutlined outlinedininthe the“Investment “InvestmentOptions” Options” section. section.
Application Applicationcriteria criteria In Inaddition additiontotomaking makingaafinancial financialinvestment, investment,applicants applicants must mustalso alsomeet meetthe thefollowing followingrequirements: requirements:
Benefits Benefitsofofthe theprogram program Fast-track Fast-trackprocedure procedureallowing allowingfor fordirect directpath pathto to citizenship citizenshipwithin withinthree threemonths; months;
Must Musthave haveaavalid validpassport; passport;
No Nophysical physicalresidence residencerequirements requirementsduring duringor orafter after the theapplication applicationprocedure procedure(the (theonly onlyrequirement requirementisis for forone onevisit visitevery every77years); years);
Provide Providedocuments documentssupporting supportingthe thesource sourceand andorigin origin ofofthe thedeclared declaredfunds fundsfor forinvestment; investment;
No Nolanguage languagerequirements requirementsfor forresidence residence or orcitizenship; citizenship;
Provide Provideproof proofthat thatthe theapplicant applicanthas hasno nocriminal criminal record; record;
No Noobligation obligationto torelinquish relinquishcurrent currentnationality; nationality;
The Theapplicant’s applicant’sname namemust mustnot notbe beincluded includedin inthe thelist list ofofpersons personswhose whoseproperty propertyisisordered orderedtotobe befrozen frozen within withinthe theboundaries boundariesofofthe theEU; EU;
Legal Legalsystem systembased basedon onEnglish Englishcommon commonlaw; law;
Pay Paythe theapplication applicationfees. fees.
Low Lowtax taxrates ratesand andfree freetrade tradewithin withinthe theEU; EU;
Unrestricted Unrestrictedright righttotolive, live,work workand andstudy studyin inEurope; Europe; Right Rightto toown ownland landin inan anEU EUmember memberstate; state; Strategic Strategicgeographical geographicallocation, location,forming formingaabridge bridge between betweenthe theEU, EU,the theMiddle MiddleEast, East,and andNorth NorthAfrica Africa with withdirect directaccess accessto tothe theMediterranean MediterraneanSea; Sea; Low Lowcrime crimerate, rate,excellent excellenteducation educationsystem systemwith withaa number numberofofhigh highstandard standardschools schoolsand anduniversities universities and andfirst-rate first-ratehealthcare; healthcare; An Anoutstanding outstandingholiday holidaydestination. destination.
CYPRUS CYPRUS CITIZENSHIP-BY-INVESTMENT CITIZENSHIP-BY-INVESTMENTPROGRAM PROGRAM
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INVESTMENT REQUIREMENTS According to the Regulations issued by virtue of the Civil Registry Laws, foreign investors who wish to obtain Cypriot citizenship by investment need to meet the following requirements:
4. Combination of options 1, 2 and 3 amounting to at least €5 million 5. Business activities
Applicants choosing this option must be shareholders or beneficiary owners of a company, the management of Must hold a permanent privately-owned residence in which is in the Republic of Cyprus and the company has the Republic of Cyprus, the purchase price of which at least €500,000 per annum in the past three must be at least €500,000 plus applicable VAT; An important hub in the heart of the Mediterranean,contributed at the crossroads of Europe, Africa and Asia, years to state funds (corporate tax, VAT, etc.). Must choose one ofculturally the prescribed investment options placed for working and traveling within and beyond Cyprus is diverse, rich and perfectly and maintain it for the required duration. the European Union. The economy is rapidly recovering from recent recession through significant
6. Persons whose deposits with the Bank of activities in the shipping, tourism, the legal and financial services sectors, has also seen a Cyprus or Popular Bankand have been impaired surge in foreign investments and developments, property and investment values. INVESTMENT OPTIONS 1. Mixed investments and a donation QUALIFICATIONS to a state fund Applicants choosing this option must deposit €2 million Investment criteria for the purchase of shares and/or bonds of the State Offered in accordance with the Civil Registry Laws 2002Investment Company (under formation) and should 2013, the Naturalization of Investors by Exception Scheme make a donation of at least €500,000 to the Research and is one of the fastest to lead to residence and citizenship in Technology Fund. Europe. To qualify for application, you will need to meet one Investors need to maintain shares and/or bonds for a of the requirements outlinedthe in the “Investment Options” period section.of three years.
2. Direct investment Application criteria Applicants this option must make a direct In additionchoosing to making a financial investment, applicants investment of atthe least €5 million in the purchase of one of must also meet following requirements: the below: Must have a valid passport; Property Provide documents supporting the source and origin Businesses or companies of the declared funds for investment; Financial assets Provide proof that the applicant has no criminal record; Investors need to maintain ownership of the assets for a period ofapplicant’s three years.name must not be included in the list The of persons whose property is ordered to be frozen 3. Bank deposit within the boundaries of the EU; Applicants thisfees. option must have a fixed term Pay thechoosing application deposit of at least €5 million for three years in a Cypriot bank. Financed Investment Clients can leverage their capital by choosing to finance the required investment. They can pay a reduced amount of €350,000 that will be used to finance a €5 million closed 3-year deposit from a Cypriot bank. A loan is thereafter initiated and repaid at no further cost to the investor.
Applicants that have incurred an impairment in deposits on one or both of the aforementioned Banks amounting to a total of at least €3 million can apply for Cypriot WHY CHOOSE CYPRUS? citizenship. In case that the impairment incurred is less than €3boasts million, one can theculture, difference Cyprus a rich and cover diverse mildby making an additional investment in the above-mentioned options. Mediterranean climate, a safe and stable setting which is ideal for raising families, and perfect location for business and travelling. Investors also look at Cyprus for business and investment purposes recognizing numerous APPLICATION FEES investment opportunities. Application fees for a typical family of four are: Legalof Fees: Benefits the€50,000 program Government Fees: start at €15,000 and vary Fast-track procedure allowing for direct pathwith to the number of within dependents. citizenship three months; Additional taxesresidence and dutiesrequirements apply. VAT may be reduced No physical during or afterto 5% from the going rate under certain terms and conditions. the application procedure (the only requirement is for one visit every 7 years); No language requirements for residence
All or application citizenship; fees charged by the Cypriot government and Arton are subject to change. No obligation to relinquish current nationality; These fees depend on the number of applicants rates and free trade within the EU; andLow thetax complexity of the process. Please Legal system based onany English commonor law; contact us if you have questions need more information. Unrestricted right to live, work and study in Europe; Right to own land in an EU member state; Strategic geographical location, forming a bridge between the EU, the Middle East, and North Africa with direct access to the Mediterranean Sea; Low crime rate, excellent education system with a number of high standard schools and universities and first-rate healthcare; An outstanding holiday destination.
CYPRUS CYPRUS CITIZENSHIP-BY-INVESTMENT CITIZENSHIP-BY-INVESTMENT PROGRAM PROGRAM
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er parity) 2)
STEPS AND TIMELINE The table below breaks down the application process into 9 basic steps. Some require the applicant’s involvement while others are executed by Arton Capital, Tassos Papadopoulos & Associates LLC - our legal representatives, or the competent Cypriot financial institution (once the respective POAs have been granted by the applicant). Each step must be completed before continuing to the next.
STEP 1 PHASE I MONTH 1 Mediterranean, An important hub in the heart of the at the crossroads of Europe, Africa and Asia, All necessary documents must be prepared by the applicant Main applicant Cyprus is diverse, culturally rich and perfectly working within and beyond and signedplaced before afor Cypriot consuland or a traveling Court Registrar in Cyprus. (and spouse)
the European Union. The economy is rapidly STEP 2 recovering from recent recession through significant Preparation of application file, signing of Sale Agreement forseen Residential activities in the shipping, tourism, the legal and financial services sectors, and has also a Property and other required steps for the property transaction and surge in foreign investments and developments, property and investment values. completion of bank transaction.
STEP 3 For the Financed Investment the funds must settle into the Cypriot bank, QUALIFICATIONS WHY CHOOSE CYPRUS? the full purchase price of the residential property must be remitted into the Cyprus boasts a richmust and diverse lawyer’s account, and fees and costs be paid.culture, mild Investment criteria Mediterranean climate, a safe and stable setting which STEP 4 Offered in accordance with the Civil Registry Laws 2002is ideal forMinistry raising families, and perfect location for Application lodged at the of Interior. 2013, the Naturalization of Investors by Exception Scheme business and travelling. Investors also look at Cyprus for STEPin5 is one of the fastest to lead to residence and citizenship business and investment purposes recognizing numerous of purchase price of residential property, settlement Europe. To qualify for application, you will need toApproval, meet one settlement investment opportunities. of remaining legal and processing fees. of the requirements outlined in the “Investment Options” section. STEP 6 Benefits of the program Issuance of naturalization certificate(s) and issuance of passport(s) for the procedure allowing for direct path to main applicant and Fast-track spouse. Application criteria citizenship within three months; In addition to making a financial investment, applicants PHASE II the following requirements: STEP 7 No physical residence requirements during or after must also meet All necessary documents must be prepared by applicant and signed before the application procedure (the only requirement is a Family members Must have a valid passport; Cypriot consul or a Court in Cyprus. for oneRegistrar visit every 7 years); (subject to successful STEP 8 Provide documents supporting the source and origin No language requirements for residence completion of Phase I) Application lodged at the Ministry of Interior. of the declared funds for investment; or citizenship; STEP 9 Provide proof that the applicant has no criminal No obligation to relinquish current Issuance of naturalization certificate(s) and issuance of nationality; passport(s) MONTH 3 record; for the family member(s). Low tax rates and free trade within the EU; The applicant’s name must not be included in the list Legal system based on English common law; of persons whose property is ordered to be frozen Arton’s Global Citizen Programs within the boundaries of the EU; are represented Unrestricted by: right to live, work and study in Europe; Pay the application fees.
Right to own land in an EU member state; Arton’s Global Citizen Programs are represented a network Strategicbygeographical location, forming a bridge of Certified Partners, who are proud members and supporters of the Global Citizenship between movement. the EU, the Middle East, and North Africa
with direct access to the Mediterranean Sea;
Certified Partner and supporter of the Low crime rate, excellent education system with a Global Citizenship movement.
number of high standard schools and universities
The Citizenship by Investment Program in Cyprus is offered by Arton Capital Holdings, a member of the Arton Group, and our local legal advisors Tassos Papadopoulos & and first-rate healthcare; Associates LLC. The above timeline is an estimate provided for information purposes only, based on experiences with past clients. Processing times and costs will vary depending on a number of factors. Arton Capital Holdings is not responsible for any changes to the estimations above; we can provide specific time and cost estimates on an individual basis. Please refer to our website for the most up-to-date information. An outstanding holiday destination.
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