The process for Cyprus’ Citizenship by Investment program could not be simpler and is achievable in just 5 simple steps. La Vida’s specialist consultant’s will be able to assist investors from A to Z, from the real estate purchase, to the legal work and application.
Below is a guide to the necessary steps:
Step 1: Engage and Invest
Once La Vida have been appointed and our client facilitator agreement has been signed, the first step is to make a visit to Cyprus. La Vida will tailor a visit to suit, provide a full itinerary, arrange property viewings and a meeting with a legal representative. Investors will need to select real estate to meet the required investment of €2,000,000 and reserve the property with a deposit to begin the purchase. It is possible to do all of the above remotely if a visit is not viable and La Vida and our legal team will help with this.
Step 2: Application submission
Following the property investment, La Vida’s legal partners will begin the application for the main investor and spouse, undertake due diligence and gather all the supporting documentation. On submission of the naturalization application a permanent residency permit will also be applied for which takes less than 2 weeks to obtain. It is necessary for every adult applicant to hold a PR card in Cyprus for at least 6 months prior to collecting their passport/national ID.
Step 3: Biometrics
Shortly after the application has been submitted, biometric data will need to be given. This can either be done during a further visit to Cyprus or it is possible to visit certain Cypriot embassies to submit the data. The Cypriot Embassies in locations such as London, Moscow and Pretoria can provide this service. At this point it is also possible for investors to collect their residency permit cards.
Step 4: Approval in Principle- 3 months
The Government have a set timeframe of 3 months for the examination of the citizenship application from submission. At this stage investors will receive an ‘in principal’ approval certificate.
Step 5: Collect Passport
Following the ”in principle” approval and once the investor has held their PR card for a total period of six months, their new Passports/ID’s can be collected either in Cyprus or at a local Cyprus embassy. The total process will take just over 6 months.
It’s at this stage that the main applicant’s dependents can then apply for citizenship.