Cyprus CIP Application Statistics

An overview of all Cyprus Investment Programme applications since launching.

Dr. Antoine Saliba Haig | Published on 14 Nov 2018 | Updated on 24 Sep 2019

Cyprus citizenship statistics

With 320 days of sunshine a year and a favourable tax regime, it is no surprise that Cyprus was ranked as the 5th best relocation destination in the world by Knight Frank, a leading global real estate consultancy firm. Since 2013, Cypriot law has provided that the Cyprus Council of Ministers may grant a passport by naturalisation to foreign entrepreneurs. It is to be noted here that the Cyprus Investment Programme was ranked among the “top ten best in the world” by global immigration experts.

Cyprus Investment Programme statistics – statistics from the launch of the programme till today

Statistics published by Eurostat show that when taking into consideration the increase in Cypriot citizens, in relation to its population, Cyprus is amongst the top players within the immigration industry – 5.5 per thousand persons. Furthermore, statistics also show that 59% of passport acquisitions recorded in Cyprus were made to women, making this the highest proportion in the European Union. Delving more specifically into the statistics concerning the Cyprus Investment Programme, it has been recorded that 3,300 applications have been approved since the inception of the Programme. Indeed, more than 400 applications approved in 2016 alone.

What are the reasons behind this success?

Apart from Cyprus being an attractive jurisdiction for relocation in itself, there are notable benefits of the Cyprus Investment Programme which might explain the Programme’s success in the past few years which is demonstrated by the Cyprus Investment Programme Statistics. Perhaps one of the most prominent benefits of the Cyprus Investment Programme is the timeframe within which one obtains a passport – the Cyprus programme offers a short processing time since a passport can be effectively obtained within six months from application. Furthermore, a residency permit is approved within five days of application. Another feature which makes the Cyprus CIP stand out is that it offers visa-free travel to 171 countries, making the Cypriot passport one of the strongest worldwide. In addition, once Cypriot passport is duly granted, it is for life and is transferable to descendants.

Cyprus Investment Programme – our services

As lawyers, Chetcuti Cauchi Advocates is bound by professional secrecy since lawyer-client privilege is fully protected under Cypriot law, meaning that any prospective applicant has guaranteed confidentiality. Owing to our ten years of experience in handling investment programme applications, we have established an excellent reputation in all areas, including managing tax and legal matters relevant to the structuring of personal wealth. Our team of seasoned experts, ranging from legal, accounting, and tax professionals, is committed to providing sound, accurate and speedy advice. It is evident that Chetcuti Cauchi Advocates’ multi-disciplinary approach is the key behind our outstanding success rate.

 

 


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Key Contacts

Dr Jean-Philippe Chetcuti

Senior Partner, Global Residency & Citizenship

+356 22056411

Dr Antoine Saliba Haig

Legal Associate

+356 22056446

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