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June 29, 2016

Elevay Cyprus Programme

Posted by:
Elevay Global

Elevay Cyprus Citizenship by Investment Programme

The Cyprus investor programme aims to attract foreign individuals who will be entitled to obtain citizenship and passport in a period of approximately 3 months. Applicants must purchase real estate and make one of the following six investment options:

Option one involves making mixed investments and a donation to a state fund. Applicants must deposit €2 million for the purchase of shares and/or bonds of the State Investment Company and make a donation of at least €500,000 to the Research and Technology Fund.

Option two involves making an investment in real estate in Cyprus. Applicants must invest a minimum of €2.5 million in real estate in Cyprus. Investors may choose multiple properties which total the required amount, with one of the properties declared as a personal residence (physical residence not required).

Option three involves making a direct investment in Cyprus. Applicants must make a direct investment of at least €5 million.

Option four involves making a bank deposit. Applicants must have a fixed term deposit of at least €5 million for three years in a Cypriot bank.

Option five involves making a combination investment in Cyprus. Applicants can make a combination investment of options 1, 2 and, 3 amounting to at least €5 million.

Option six involves business activities. Applicants choosing this option must be shareholders or beneficiary owners of a company, the management of which is in the Republic of Cyprus and the company has contributed at least €500,000 per annum, in the past three years to state funds (corporate tax, VAT, etc.).

Option seven involves persons whose deposits with the bank of Cyprus or popular bank have been impaired. 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 citizenship. In case the impairment incurred is less than €3 million, one can cover the difference by making an additional investment in the mentioned options.

Elevay Cyprus Residency Programme

The Elevay Cyprus Residency Programme aims to attract foreign individuals who will be eligible to obtain permanent residency in a period of approximately 3-6 months, or as quickly as 30-60 days if expedited. Notably, a Cypriot passport allows the holder the right to live and work anywhere within the European Union.

A minimum investment of €300,000 in real estate is required—along with other criteria. Elevay can help with all the details in order to turn your investment dreams into reality. As the programme is streamlined, applicants will only fill out a limited number of documents in order to begin the process.

Learn more about the Cyprus Investor Program from Elevay here.

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