The award of a European – Cypriot passport can be acquired by the minimum investment of €2,000,000 for residential properties plus a residence of €500,000. The minimum time that the investor has to keep the investment is set to three years, in comparison with other European schemes where the time period is anywhere from five to eight years. Citizenship is granted after 3 months once the application is approved from the council of ministers, in comparison with competitive programs where the citizenship is awarded after a specific period of time has elapsed, that can take six to eight years.

 

 

For the permanent residency to be granted in Cyprus the applicant needs to purchase a residence for the minimum price of €300,000 plus Vat 5%. Residency will be issued within two months and has lifetime validity without renewal. Once granted it has a full family qualification from children to parents to grandparents, and offers an ease of travel throughout the European Union.