Cyprus Nationality and EU Passport by Investment
Cyprus since September 2016 offers a new regime for acquiring the Cyprus Citizenship and EU - Cyprus Passport by Investment. The regime is the more competitive Citizenship - Passport scheme in Europe and it is expected to attract an increase of citizenship applications. The regime provides for the award of a European - Cypriot passport by investment of €2.000.000, includes the participation in Alternative Investment Funds as a class of approved investments and shortens the time for approval to 3 months.
Investment: 2 million | Residence: 0.5 million | Timeframe: 3 months
Investment: 2 million | Residence: 0.5 million | Timeframe: 3 months
Investment Requirement
The headline investment requirement for a Cyprus Passport is Euro 2.000.000 in approved investments and Euro 500.000 in a residence.
Approved Investments
Property InvestmentThe regulator in Cyprus (Cyprus Securities Commission) imposes no restrictions in the type of investment of a Cyprus AIF.
Residential, Commercial and Tourism DevelopmentAlternative Investment Funds in Cyprus may be managed by their Board of Directors not requiring a Fund Manager saving on ongoing costs and efficiency.
Participation or Establishment in a new Cyprus BusinessCyprus AIF's may be listed in Cyprus or any other Stock Exchanges or listing of the fund in international information services.
Investment in regulated Alternative Investment FundsAlternative Investment Funds in Cyprus avoid the payment of any capital gains tax (GGT) on disposal or redemption of fund units.
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Construction ActivitiesEstablishing a Cyprus Fund is quite simple and straight forward with estimated time for approval 4-6 weeks.
Infrastructure DevelopmentFund in Cyprus may be established as umbrella funds with segregated sub-funds with differing investment policies, asset types and investor base.
Participation or Lending of existing Cyprus BusinessThe regulator in Cyprus is not imposing excessive reporting requirements for the funds or its Fund Manager.
Investment in Securities of other Cyprus CompaniesAny dividend distributed to the unit holders of the a Cyprus AIFs is tax exempt and no tax is withholded on such amounts.
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EU - Cyprus Passport Services
Setting Up and LicencingPreparation and submission of an application package to CySEC to obtain a license, including advice on the best way to set up the fund as regards staffing, organisational structure and costs.
Legal and Compliance ServicesEstablishment of the Legal Entity, ongoing legal support and compliance regarding the affairs, agreements and structuring of the fund and any subsidiary entities.
Administration, Audit and Internal Audit ServicesOngoing provision through our associated companies of Audit, Internal Audit and Administration services.
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Tax ServicesProvide advise as to the tax structure involved including the structure involved between the fund and the investments in a way as to maintain tax efficiency for the manager and unitholders.
Fiduciary and Custodian ServicesProvision of fiduciary services to the fund, its subsidiaries and its unit holders including all custodian services required by the fund in relation to investments in non-regulated financial instruments.
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People
Michael O. Ioannides
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Andreas N. Leonidou
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Maria Panayiotou
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