CYPRUS offers the quickest, most assured route to European citizenship and a second passport through the Cypriot citizenship by investment Program. Cyprus is strategically located in the heart of the Mediterranean, at the crossroads of Europe, Africa and Asia. As an English speaking environment, the Country is diverse, culturally rich, perfectly placed for working and traveling within and beyond the European Union and as such it became a popular tourist, education and retirement destination. There is a high standard of educational institutions and healthcare facilities. Cyprus has a very favorable tax regime for individuals and companies and is one of the safest places in the World with a wonderful climate and ecology.
The Citizenship through investment program’s main advantages include the following:
ü Fast-track procedure allowing for direct path to citizenship within three months
ü Entire family can obtain Cyprus citizenship – spouse of applicant, children under 18 years and adult dependent children under 28 years
ü There is no requirement to reside in Cyprus before, during or after the approval of a citizenship application
ü The application process has no language requirements for residence or citizenship
ü No requirement to relinquish current nationality or give up an existing passport
ü The program provides successful applicants with visa-free travel to 157 countries, including all EU countries, Canada and Australia, among others
ü Successful applicants are afforded all rights of EU citizens and are protected by EU legislation and regulations, including freedom to reside, work, do business, study and travel in the European Union, Switzerland, Liechtenstein, Norway and Iceland
ü Right to own property or invest in any activities in an EU member state
ü Successful applicants have access to the best healthcare and education institutions in the European Union
ü The wide choice of investment means that applicants can invest directly in the assets of their choice or combine allowable investments
ü Cyprus has low tax rates
ü An outstanding holiday destination
Foreign Investors who wish to obtain the Cypriot Citizenship, must meet the following requirements:
Ø Invest a minimum of €2 million;
Ø Own a private residence in Cyprus purchased for at least €500,000 plus applicable VAT. If investments are made into the purchase and development of real estate projects that include housing units with a minimum value of €500,000 plus VAT, the applicant is not required to purchase another €500,000 plus VAT residence;
Ø Retain investments for a three-year minimum;
Ø Hold a valid passport; and
Ø Have a clean criminal record (this also applies to spouses and adult children).
Investment options for foreign nationals who wish to take part in the Citizenship through investment program include the following:
- Investments in Government Bonds
The applicant must have invested in bonds of the Republic of Cyprus of at least €2,0 million.
- Investments in Financial Assets of Cypriot Businesses or Organisations
The applicant must have purchased financial assets of Cypriot businesses or organisations (e.g. debentures/ securities/ bonds registered and issued in the Republic of Cyprus) of at least €2,0 million.
Such financial assets may have been purchased at first issue or subsequently through the market.
- Investments in Real Estate, Developments and Infrastructure Projects
The applicant must have invested at least €2,0 million for the purchase or the construction of real estate or the creation of other developments (residential or commercial developments, developments in the tourism industry or other infrastructure projects).
- Acquisition or Incorporation or Participation in Cypriot Businesses or Companies
The applicant must have purchased, registered or participated in businesses or companies that are registered and operated in the Republic of Cyprus, the investment being at least €2,0 million. The said businesses or companies must be proven to have physical presence in Cyprus and employ at least five (5) Cypriot citizens.
- Deposits in Banks
The applicant must have personal fixed term deposits in Cypriot banks or deposits of privately owned companies or trusts (in which he/she is the beneficiary owner) in the Republic of Cyprus of at least €2,0 million for three years.
- A Combination of the Above Criteria
The applicant is required to have a combination of any of the above amounting to at least €2,0 million.
Appeal to Investors
Cyprus is a popular choice for foreign investors who wish to avail of the Citizenship through-investment program, due to its:
Multi-ethnic population and culture; Mild Mediterranean climate, which makes the island an ideal holiday destination; Safe and stable location, which is ideal for raising families due to the low crime rate, excellent education system and first-rate healthcare system; Strategic geographic location for business and travel between the European Union, the Middle East and North Africa; Direct access to the Mediterranean’s numerous business and investment opportunities; and Low-cost and high-quality business services supported by the Cypriot workforce, which is young, mobile, dynamic and well educated.