INVESTMENT IN REAL ESTATE, LAND DEVELOPMENT PROJECTS

Legal framework:

Naturalization by exception of non-Cypriot entrepreneurs investing in Cyprus as decided by the Ministry of Interior (as lastly amended on 19th May 2014).

Decision provides for the grant of the Cypriot citizenship, to the spouse, as well as the financially dependent adult children (18 years old or above) of the investor.

The Council of Ministers may, under any conditions determines appropriate, allow the Naturalization of foreign entrepreneurs.

APPLICATION PROCESS

Primestar undertakes to assist you throughout the application process in order you to obtain as effortlessly as possible the exception. Primestar is acting on your behalf as your representative.

LIST OF DOCUMENTS NECESSARY TO PROVIDE TO PRIMESTAR FOR SUBMISSION TO THE MINISTRY OF INTERIOR ON YOUR BEHALF

  1. Submission of an Application (M127):

The list of the necessary documents is as follows:

  • Primestar, acting as your representative, prepares a letter in which the investment and criterion, under which the application is submitted, are briefly explained.
  • Application form M127 fully completed and signed before a Registrar of a Cypriot court or a consular officer.
  • Birth certificate.
  • Copy of passport.
  • Certificate of criminal record from the country of origin, as well as the country of residence (if it differs) of the applicant.
  • Marriage certificate.
  • Copies of advertisements in a daily newspaper two consecutive posts.
  • Two passport size photographs.
  • Curriculum Vitae.
  • Documents concerning the permanent privately-owned residence of the applicant in Cyprus:
  • Contract of Sale
  • Title Deeds/ Receipt for lodging the contract with the Lands and Surveys Department.
  • Receipts for paying the agreed purchase price.
  • Copy of the wire transfer in the Cypriot commercial banking institution in the name of the seller or the seller’s company.
  • If the applicant is a high-ranking senior manager, the following documents should also be submitted:
  • Copy of the Employment Contract.
  • Copy of the receipt by the Inland Revenue Department.
  • Documents evidencing the investments of the applicant in the Republic.

These documents may include:

  • Certificate of Registration of the Company/ companies by the Registrar of Companies.
  • Certificate of Shareholders by the Registrar of Companies or certificates evidencing that the applicant is the beneficiary owner of the company/ companies.
  • Audited Accounts of the Company/ companies for the last 3 years preceding the year of the application.
  1. INVESTMENT IN REAL ESTATE, LAND DEVELOPMENT PROJECTS
  • Contract of sale.
  • Title Deeds/ Receipt for lodging the contract with the Lands and Surveys Department.
  • Receipts for paying the agreed purchase price.

Primestar will submit on your behalf at the Ministry of Interior, the original documents, along with a photocopy of all documents.

The spouse of the non-Cypriot investor has the right to apply for the citizenship simultaneously with the investor. For further information please contact us.

EXAMINATION PROCEDURE OF AN APPLICATION

Firstly, Primestar submits the application at the Ministry of Interior.

Once the application is submitted Primestar makes sure that the examination process begins:

  • Primestar sends to the Ministry of Finance, on your behalf, the documents relating to the business activities and investment of the applicant in Cyprus for evaluation:
  • At this point, the Ministry of Finance views on whether the applicant meets any of the criteria established by the Council of Ministers.
  • Simultaneously, the Ministry of Interior investigates whether the applicant meets the other conditions of the abovementioned Decision of the Council of Ministers.
  • If the applicant meets the Criteria and Conditions of the Decision, the Minister of Interior presents the case to the Council of Ministers for final decision.

Once the application is approved, Primestar arranges to obtain on your behalf the Certificate of Naturalization from the Civil Registry and Migration Department.

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