Cyprus citizenship by Alternative Investment Fund (AIF)
ABOUT CYPRUS CITIZENSHIP BY AIF PROGRAM
In 2016, the Cyprus Council of Ministers decided to encourage foreign direct investing and to attract high net worth individuals to Cyprus by creating the Scheme for Naturalization of Investors in Cyprus by Exception (Cyprus Citizenship Program). This program allows applicants to purchase a personal residence in Cyprus (minimum €500.000), and purchase units of min. €2.000.000 in an Alternative Investment Fund (AIF) or invest min. €2.000.000 in Cyprus real estate, to obtain Cyprus citizenship quickly.
Financing of the applicant’s AIF units on an unsecured and non-recourse basis is now available. This will allow the applicant to pay a reduced, one-time payment of €875.000 (all fees included) to qualify for Cyprus citizenship.
BENEFITS:
– Cyprus citizens have visa-free access to 175 countries (including Canada and Europe)
– Each applicant and his/her dependents have the right to reside, work, and study throughout the European Union (27 countries)
– Dependents includes spouse, minor children, and financially dependent children under the age of 28
– Applicant’s parents may also qualify for Cyprus citizenship (for an additional €500.000 property)
– No tax on worldwide income
– Citizenship is valid for life, and is transferable to descendants
– Cyprus allows dual citizenship
– Fastest EU Citizenship by Investment program with processing time of 9 months
QUALIFICATIONS:
– Applicants must be at least 18 years old and possess a valid passport and reside legally in a country
– Have a Net Worth of €3.000.000 and be able to document the source of funds
– Pass a security background check
– Possess a Schengen travel visa
– Purchase residential real estate in Cyprus for minimum €500.000
– Donate €200.000 to the Cyprus Government
– No strict management experience, language, or education requirement
APPLICATION PROCESS:
– Client submits Suitability Questionnaire and all application documents to Odin Land
– Odin Land submits documents to the bank, and the bank conducts a due diligence check.
– Upon the bank’s preliminary approval, the applicant opens the bank account, and sign/notarize documents
– Applicant transfers investment funds to his/her bank account
– Under PoA, Confederation – Odin Land’s exclusive partner facilitates non-recourse AIF financing and purchase of the €500.000 personal residence.
– Client and dependents visit Cyprus for biometrics.
– Odin Land submits the client’s application to the Government of Cyprus.
– Certificates of Naturalization are issued and must be signed in Cyprus or embassy abroad.
– Passports are issued and client and family travel to Cyprus to collect.
Click here to read frequently asked questions about Cyprus citizenship program
