How can I open a branch of a company in Cyprus under the Cyprus citizenship by investment program?

Answers

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  Celia Pourgoura

  CA Advocates (Pourgoura & Aspri LLC)

  May 08, 2020

  The applicant must purchase or incorporate or participate in business organisations or companies that already are, or will be operating in the Republic of Cyprus. The investment to be made in such entities must be for a value of at least 2 million euros and the same must be utilized only for operations in the Republic of Cyprus based on a pre-approved business plan. Investments in the shipping sector are now eligible under this category, on the basis of measurable criteria that will be determined jointly by the Ministry of Finance and the Shipping Deputy Ministry from time to time. The Cyprus entity is obliged to employ at least five Cypriot or European Union citizens.

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  Eleni Drakou

  Michael Kyprianou & Co. LLC

  May 08, 2020

  A branch of a company can be set up in Cyprus. The branch should have a physical presence and significant activities and turnover in Cyprus in order to qualify for the Cyprus Investment Program (CIP), while the branch should employ at least five citizens from Cyprus or other European Union countries. A minimum amount of 2 million euros should be channeled towards the financing of the investment objectives of the company exclusively in Cyprus, based on a specific investment plan. Moreover, a permanent residence of 500,000 euros should be acquired (new or resale) by the applicant.

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  Michalis Anastasiou

  Evagoras Anastasiou & Associates LLC

  May 08, 2020

  Yes, an investor can register a company in Cyprus and fall in the Cyprus Investment Program. Company Registration procedure in Cyprus is simple and quick and can be concluded within two weeks. The registration can also be completed remotely. The applicant must invest at least 2 million euros for the purchase or participation in companies or organizations established and operating in the Republic of Cyprus with investment costs. The invested funds shall be channeled towards the financing of the investment objectives of these companies exclusively in Cyprus, based on a specific investment plan. The applications shall be evaluated to verify that the companies or organizations have proven physical presence in Cyprus, with significant activity and turnover and employ at least five Cypriot citizens or citizens of European Union member-states. The minimum number of employees shall increase, if more than one applicant invest simultaneously or almost simultaneously in the same business or company.

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  Chriso Savva

  CHRISO SAVVA LLC

  May 08, 2020

  Please note that investment must be made in Cyprus entities, which are established in Cyprus and which have been employing EU nationals or Cyprus nationals for at least five years.