AXESA work in close collaboration with an international network of wealth managers, real estate advisors and family offices as well as investment managers. Jointly, we deliver tailored Citizenship solutions to High Net Worth Individuals and Ultra High Net Worth Individuals.
The legislation to apply for Cyprus Citizenship through the Cyprus Investment Programme (CIP) is governed by the Naturalisation of Investors in Cyprus by Exception Scheme, based on subsection (2) in Section 111A of the Civil Registry Laws of 2002. This was approved by the Cyprus Council of Ministers on the 13 September 2016 and updated most recently in May 2019.
On the 13 September 2016, the Cyprus Council of Ministers revised the “Cyprus Investment Programme” in an effort to attract more foreign investors and entrepreneurs. This resulted in Cyprus issuing over 2,000 citizenships to duly approved individuals, a large proportion of which have invested in the real estate sector in Cyprus and positively impacted the GDP growth by over 1% over the past 5-year period.
In 2019 the Cyprus government implemented non-refundable Government contributions summing up to EUR 150,000 to encourage the creation of a more sustainable investment model that also contributes to the local economy, consequently supporting the financing for affordable housing on the island.
We pride ourselves on offering the most competitive professional services fees with personalised service and unique extras. Our mission is to offer premium service at value added fee levels and enabling our clients to enjoy the benefits of Cyprus Citizenship as truly global citizens.
Processing Service Fees
AXESA offer competitive fees for the preparation, submission and follow up of the Cyprus Investment Programme and include free premium client bonuses in our fees.
We have a holistic approach to our service and liaise with our clients and any advisors or local counsel. We coordinate the certification of documents needed, the preparation of evidence for source of wealth and income, funds transfers, real estate meetings and executive travel for visits to Cyprus. We advise clients on all aspects of their application and offer support post-completion of the CIP application.
In addition to our personalised service we understand how critical it is for our clients to explore the host country they are becoming citizens. Each client has a unique story and our client service team aim to celebrate this by including a CIP Axesa Client Bonus experience in Cyprus. This can range from unique fine dining experiences, to boat tours and/or family-friendly experiences to cherish.
Permanent Private Residence
All CIP applicants must retain a residence valued at EUR 500,000 in perpetuity. Applicants may include their dependent children and spouse in their application. Dependent children include unmarried dependent adult children aged 18-28 still undertaking their first degree. Parents of the applicant/their spouse can be included provided there is an additional investment of EUR 500,000 (plus VAT as applicable), is made in residential property in Cyprus.
EUR 75,000 is payable to the Cyprus Research & Innovation fund and EUR 75,000 to the Cyprus Land Registry. This donation is a contribution to the integrated housing policy, specifically for the purpose of implementing affordable housing projects and the implementation of other housing plans (See CIP Application process).
Due Diligence Disbursements
The following are due diligence disbursements payable to the Cyprus government.
Stamp for Application Form – EUR 9
Filing of CIP application – EUR 2,000
Filing of Cyprus Permanent Residence Permit – EUR 500
Issuing Alien Registration Certificate – EUR 70
Issuing Certificate of Naturalisation – EUR 5,000
Stamp for Certificate of Naturalisation – EUR 9
Issuing Cyprus Passport – EUR 120
Issuing of Cyprus ID Card – EUR 30
To find out more about the Cyprus CIP application process please click the button below or get in touch to book a Free 60 Mins Discovery call to discuss the best option suited to you/your client’s needs.