What are the advantages of Cyprus citizenship?
Apart from being the third largest island in the Mediterranean and a tourist paradise for families, and holidaymakers who want to experience the nation's luxurious coastline, warm climate, and cultural carnivals it is also a haven on earth for High Net Worth Individuals who are seeking to obtain an EU citizenship.
What are the benefits of the Cyprus Economic Citizenship Program?
- EU citizenship within 6-10 months.
- No language requirement.
- No residence requirement.
- No income tax for non-resident citizens.
- Citizenship for the entire family including children under the age of 29 and parents.
- Visa-free entry into 187 countries worldwide, including USA soon.
- Investment can be sold after 5 years.
- Citizenship is acquired through investment, no through a donation to the government.
- You acquire the right to live, work, and study in any country of the European Union, as well as an opportunity to obtain UK residence right or citizenship for the whole family.
Upon receiving approval of the citizenship application, the foreign national and family will receive Cyprus passports. They can use their passports to travel freely throughout the European Union without the need for obtaining different visas. Additionally, the investor can freely and easily transfer any amount of funds from one EU member state to another, as well as purchase property or make investments in any EU member state.
The citizenship applicant may also add dependents to the application including his/her spouse, children (up to the age of 18 or between 18 and 27 if they are financially dependent on the main applicant) and parents (provided that they have purchased a permanent residence of at least €500,000 plus VAT). What are the Requirements?
The main applicant must be over 18 years of age,
No criminal or conviction record.
Documents confirming the source and origin of investment.
Lifelong ownership of Cyprus real estate valued at no less than €500,000.
How much should you invest?
Fast Track EU citizenship programme
€2 million (+VAT) investment into a pre-approved real estate development project plus €150,000 donation to the government of CyprusHow Citizenship by Investment Programme in Cyprus started and how does it work?
In September 2016, the Cyprus' Council of Ministers approved the amendments to the Scheme for Naturalization of Investors in Cyprus by Exception. These amendments resulted in the required investment amount being reduced to €2 million in residential real-estate. The investment should either be made in person or through a company in which the applicant is a shareholder.
The type of investment can be one or a combination of the following:
-Investment in real estate, land development, and infrastructure projects;
-Purchase or establishment or participation in Cypriot companies or businesses;
-Investment in Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by the Cyprus Securities and Exchange Commission (CySec);
Depending on the type of the investment, relevant documentation will have to be submitted as part of the application.
The investment may be sold after a period of three years provided that the investor maintains at least a property with a minimum value of €500,000.