With the Cyprus Citizenship by Investment programme from the Cypriot Government, the Mediterranean isle can be your gateway to all the benefits of full EU citizenship including a Cyprus Passport. Let’s look at some of the advantages of the programme.
Benefits of the Cyprus EU Citizenship Programme
Cyprus makes it easy and straightforward to obtain citizenship of the European Union for you and your family. These are just some of the benefits to becoming a citizen of Cyprus through the Citizenship by Investment programme:
- Eligibility: – All nationalities are eligible for the programme. You simply need to invest €2 million Euros in property for a period of three years.
- Covers the Whole Family: – Protection for your dependents including your children and spouse
- Fast Tracked Citizenship: – Cyprus EU Citizenship by Investment can be obtained within three to six months. This compares very favourably with citizenship acquisition periods of up to six years in some other EU jurisdictions.
- Sell your Property: – You are free to sell most of your property portfolio after just three years. You will need to retain property to the value of €500,000, which can include your personal home.
- No Tax Consequences: – You do not need to become a tax resident of Cyprus after you acquire citizenship through the Cyprus Citizenship by Investment programme.
- Low Capital Gains Taxation: – Capital Gains taxation is low and takes account of inflation
- No Residency Requirement: – There is no residency requirement. Investors acquiring residency through the Cyprus Citizenship by Investment programme only need visit the island of Cyprus once every 2 years
- No Language Requirements: – No need to learn Greek. English is also widely spoken
- Obtain a Valuable EU Passport: – EU Passports are widely valued and confer upon you the ability to live and work throughout the 28 member states
- Dual Citizenship: – No need to renounce your previous nationality
- Free Movement of People and Capital: – The Cyprus Citizenship by Investment programme allows you to live and work anywhere in the EU with free movement of goods, services and capital to any country in the European Union.
- Visa Free Travel: – Visa free travel is possible to over 158 countries including Canada.
- Easy Visas: – EU citizens can quickly obtain visas for the few countries that do not allow visa free entry. Countries including the USA and Australia issue visas to EU citizens with limited amounts of paperwork
- Consular Protection: – You have access to the protection by the diplomatic and consular authorities of any EU Country if Cyprus does not have a local embassy
- Cyprus Passport is Valid for Life: – Legal status gained by the Cyprus Citizenship by Investment programme can be passed to future generations by descent
- Bring Your Family: – Your parents can also gain citizenship provided they also invest €500,000 in a permanent residence in Cyprus
Requirements for the EU – Cyprus Citizenship by Investment Programme
The citizenship process is not for everyone, but the rewards greatly out way the costs. If you meet the following requirements then you can become a citizen of the European Union through the Cyprus Citizenship by Investment programme
- Clean Criminal Record
- A secure property portfolio investment of €2 million invested for a period of at least three years. This can be sold after the three years and should yield a profit.
- You must retain a minimum property investment in Cyprus of at least €500,000 from year 3 onwards
The 7 Steps to EU Citizenship through the Cypriot Citizenship by Investment Programme
To take advantage of the Cyprus Citizenship by Investment programme simply follow the steps below:
- Select your Real Estate Investment: – Simply select the properties that will make up your portfolio. Once your purchase agreement is signed the developers will issue a receipt.
- Preparation of Documents: – We will arrange for all relevant personal documents to be translated in to Greek or English. As well as the property receipt you will need to provide the following:
- Valid Passport
- Birth Certificate
- Police Clearance Certificate (from your home nation)
- Marriage Certificate (if applicable)
- Detailed Biography
- Pre-clearance Check: – Your appointed lawyer checks all the details of your application
- Make your Application for Cyprus residency and EU citizenship: – You officially file for your fast track Permanent Residency Permit and Cyprus/EU citizenship. You will lodge the application and pay the €7500 per adult processing fees to the Ministry of the Interior.
- Cypriot Government Issues your Cyprus EU citizenship: – These must be signed by the applicant within three months in from of a court registrar or a consul at any Cypriot Consulate abroad.
- Apply for citizenship for your children and parents: – Simply make your application for your children and parents to become naturalised citizens of Cyprus.
- Child and Parents Documents Issued: – The Cypriot Government issues Cyprus EU citizenship for your children and parents
Why have a Cyprus Passport?
If you are looking for a new place of residency, Cyprus could be the ideal country in which to settle. If you are unfamiliar with the Mediterranean state, here is what you need to know:
- Warm: – Cyprus has an average temperature of 23 C
- Euro: – The country uses the Euro as its currency meaning easy conversion of funds
- Safe Location – Great Legal System: -Lowest crime rate in Europe with a modern and transparent common-law based legal framework
- Member of International Bodies: – A member of the UN and an EU member since 2004 and not showing any signs of withdrawal
- Business Friendly: – Low set-up costs for companies attracting many international businesses
- Low Taxation: – No taxes on corporate dividends or on profits from sale of shares. There is no withholding of tax on outgoing payments
- Safe Financial Centre: – Cyprus is a FATF-compliant financial centre with a low corporate tax rate
- Substantial Double Taxation Agreements: Cyprus has a double taxation agreement with 52 countries. This means that you will only be taxed once on income earned in the country and on profits from your property investments.
- Safe Long Term Investment: – Cyprus does not levy Inheritance tax.
- Great Lifestyle: – Cyprus offers a high standard of living and healthcare with excellent schools, colleges and universities. The country has a rich cultural heritage and high-quality tourist facilities and the most Blue-Flag beaches in the world with Europe’s cleanest bathing waters
- Excellent Telecommunications: – Cyprus boasts a great phone system and high speed internet connections
- Easy Travel: – Cyprus has daily flights from major international airports. Its location in the Mediterranean means it is ideally suited for visitors from Europe, the Middle East and Asia.
As well as providing a great lifestyle should you choose to settle in the area, the Cyprus Citizenship by investment programme is truly your ticket to experience the freedom to live, work and travel anywhere within the European Union. To start enjoying the benefits of EU citizenship, simply call us today.