Citizenship by Investment in Cyprus

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Citizenship by Investment in Cyprus July 2017 New attractive legislation is in place which makes obtaining the Cyprus/EU Citizenship even easier.

1 Citizenship by Investment in Cyprus July 2017 New attractive legislation is in place which makes obtaining the Cyprus/EU Citizenship even easier. The relevant scheme grants approvals within 3-6 months. Compared to the previous scheme, thresholds are considerably lower (reduced to 2mln from 5mln), in addition to a more inclusive set of criteria. Investors do not need to reside in Cyprus and they do not become tax residents (unless they spend over 183 days in Cyprus). The scheme is in force from November 1 st, 2016 onwards. NATURALISATION REQUIREMENTS Key Terms & Conditions Applicant is 18+ Investments > 2mln for min. 3 years Residence worth 0.5mln kept for life Minimum of one visit Clean Criminal Record Clean Criminal Record The applicant must have a clean criminal record. Furthermore, his name must not be included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union. Residence Permit in Cyprus The applicant, prior to his/her naturalisation as a Cypriot citizen must hold a residence permit in Cyprus. It is noted that all of the above also apply for the adult members of the family of the investor, who will apply for naturalisation. It is noted that members of the same family, which apply separately as investors, can collectively acquire a residence, provided that the total value of this homeproperty covers the amount of per each applicant.

CRITERIA FOR GRANTING THE CYPRIOT CITIZENSHIP BY EXCEPTION A non-cypriot citizen, who meets one of the following economic criteria, either personally or through a company/ companies in which he/ she

2 CRITERIA FOR GRANTING THE CYPRIOT CITIZENSHIP BY EXCEPTION A non-cypriot citizen, who meets one of the following economic criteria, either personally or through a company/ companies in which he/ she participates as a shareholder - proportionally based on the percentage of participation, or through investments done by his/her spouse, or even as a high-ranking senior manager of a company/ companies that meets one of economic criteria, may apply for the acquisition of the Cypriot citizenship through Naturalisation by exception. A high ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenues of at least 100,000 over a three year period and provided that this tax has been already paid or prepaid. Investment must be done in one of the following: A.1. Real estate, land development and infrastructure projects An investment of at least 2,0 million must have been made for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects. In case that the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of 500,000, part of this additional amount can be used for purposes of supplementing the total amount of the investment made on the basis of the criteria of Part A above. Additionally, it is noted that if the applicant has invested in housing unit/units on the basis of the aforementioned criterion A.1, the purchase of another permanent residence in Cyprus will not be required, if at least one of these housing units is worth at least 500,000, plus VAT, provided that the applicant retains possession of the residence for life. A.2. Financial assets A purchase or participation must have been made in companies or organisations established and operating in the Republic of Cyprus with investment costs of at least 2,0 million. The companies or organisations must have proven physical presence in Cyprus, and employ at least five (5) Cypriot or EU member-states. A.3. AIF or financial assets of Cypriot companies or Cypriot organisations that are licensed by CySec Units of at least 2,0 million must have been bought from alternative investment funds (AIF) established in the Republic of Cyprus, licensed and supervised by the CySec and whose investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this Scheme or in areas approved by the Minister of Finance. A.4. Combination of the aforementioned The applicant may proceed with a combination of the above investments, provided that the total investment will amount up to at least 2,0 million.

WHY INVEST IN CYPRUS > Member of EU with the Euro as official currency > 300 days of sunshine with

> Both, blue flag beaches and mountain forests, within an hour s drive > A charismatic region in the

seeking strong, long term returns, regard investment property in Cyprus as a mature market and sound

has no residency requirements > Excellent British education (30% of students are foreign) >

multilingual workforce (English widely spoken) > Sophisticated, high quality financial professional

strong British, Russian and growing Chinese community > Appealing business & investment environment:

are low making it a great time to investment > The World Bank s Doing Business Report 2014 ranked

Largest natural gas found in the Mediterranean worth trillions of Euro LIVING IN CYPRUS Natural

Stability & Low Crime Rate Worldwide Connectivity Via 2 International Airports Rich Historical &

3 WHY INVEST IN CYPRUS > Member of EU with the Euro as official currency > 300 days of sunshine with an average annual temperature of circa 20 o C > Clean air and the cleanest bathing waters in Europe > Both, blue flag beaches and mountain forests, within an hour s drive > A charismatic region in the winter and the warmth & beauty of the summer combined > 5 th safest country in the world > Investors seeking strong, long term returns, regard investment property in Cyprus as a mature market and sound investment area in which to expand their property portfolios > Cyprus allows dual citizenship and has no residency requirements > Excellent British education (30% of students are foreign) > Excellent healthcare system > Relatively low cost & high standard of living > Highly qualified & multilingual workforce (English widely spoken) > Sophisticated, high quality financial professional services and support > Efficient British-based legal system > Multi-cultural environment with a strong British, Russian and growing Chinese community > Appealing business & investment environment: o Wide choice of financial and legal services o Excellent investment potential, real estate prices are low making it a great time to investment > The World Bank s Doing Business Report 2014 ranked Cyprus 39th out of 189 economies and 16th out of EU28 for the Ease of Doing Business ranking > Largest natural gas found in the Mediterranean worth trillions of Euro LIVING IN CYPRUS Natural Beauty & Year Round Pleasant Climate High Quality of Life & Variety of Lifestyle Options Political Stability & Low Crime Rate Worldwide Connectivity Via 2 International Airports Rich Historical & Cultural Landscape Cyprus Hospitality & English Speaking Population Excellent Multilingual Educational Institutions Advanced & Modern Infrastructure

OUR SERVICES > DP works side by side with the Client across necessary steps, requirements, & economic criteria for obtaining citizenship > Provide reliable analysis of applicant s decisions &

4 OUR SERVICES > DP works side by side with the Client across necessary steps, requirements, & economic criteria for obtaining citizenship > Provide reliable analysis of applicant s decisions & customise a successful strategy to meet the criteria including examination of alternative investment options > Preparation of all documents relating to the application from the outset of the process > Review application(s) prepared to ensure completeness & that they meet the required standards in a timely manner > Qualified advice in setting up investment vehicles if applicable > Provision of legal review of transaction documents for chosen investments WHY CYPRIOT CITIZENSHIP > Advice on the tax implications of citizenship as well as the proposed investments > Pre-clearance check with the relevant Ministries > Constantly liaising with all Governmental Departments for the monitoring & follow-up of our Clients & their family applications > Regular status updates to applicants > Assistance in securing the Residence Permit > Following approval, issuance of the passports & ID s for all family members > Thorough due diligence on Real Estate & other investments to be purchased EU membership & accessibility to EU market Robust & transparent legal framework based on English Law High quality of professional services and well educated, skilled workforce Attractive tax regime (12.5% corporation tax rate) Strategic location in the crossroads of Europe, Asia and Africa. Modern and advanced infrastructure and telecommunications

APPLICATION PROCESS > The application is submitted to the Ministry of interior & is evaluated by the Ministry of Interior & Ministry of Finance > Following examination & clearance, the application is

5 APPLICATION PROCESS > The application is submitted to the Ministry of interior & is evaluated by the Ministry of Interior & Ministry of Finance > Following examination & clearance, the application is forwarded for final approval to the Council of Ministers, which is the decision making body with absolute discretion relating to the granting of the Citizenship > Applicant & his/her spouse can apply simultaneously. Once approved eligibility also applies to minor children (under 18 y.o) as well as financially dependent adult children up to the age of 28y.o > The applicant must have concluded the necessary investments during the 3 years preceding the date of application & must retain the said investments for a period of at least 3years following the date of Naturalisation Cyprus offers one of the most attractive citizenship schemes with full rights as a European Citizen DOING BUSINESS IN CYPRUS Simplified and fast tracked procedure for obtaining both the residence permit and citizenship (approx.. 6 months) Naturalisation extends to immediate family Required investments can be liquidated after (3) three years

6 Advisory & Transaction Management WHY DELFI PARTNERS? > We offer the highest quality client services by experienced professionals, through continuous research and knowledge of the relevant legislation and procedures > DP Cyprus well-established relationships with local government Bodies as well as leading institutions in the banking and insurance sectors in Cyprus, shape solutions to the specific requirements of our financial services Clients > A depth of knowledge and substantial track record across a range of business sectors > We understand our Clients reality and work towards their objectives together, empowering the right people to ensure that all relevant requirements are met and deliver the best results > Confidentiality Contact us For more information visit our website: or contact us via 1: transactions@delfipartners.com 2: investments@delfipartners.com Phone: Fax: Address: 4 th Floor, Georgiou Griva Digeni 36, 1066 Nicosia, Cyprus Disclaimer 2017: DELFI PARTNERS & Co. DP (DELFI PARTNERS) Ltd: Information herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the market. The contents of this document have not been independently verified and they do not purport to be comprehensive, or to contain all the information that a prospective investor may need. No representation, warranty or undertaking, expressed or implied is or will be made or given and no responsibility or liability is or will be accepted by the Company or by any of its directors, employees or advisors in relation to the accuracy or completeness of this document or any other written or oral information made available in connection with the Company. Copyright Any form of Delfi reproduction, Partners & dissemination, Co Citizenship copying, modification, by Investment: distribution investments@delfipartners.com and or publication of this material is strictly prohibited.

SCHEME FOR NATURALISATION OF INVESTORS IN CYPRUS BY EXCEPTION on the basis of subsection (2) of section 111A of the Civil Registry Laws of

SCHEME FOR NATURALISATION OF INVESTORS IN CYPRUS BY EXCEPTION on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2015 One of the main objectives of the economic policy of