Cyprus is the third largest island located in the Mediterranean sea, with an area of 9,251 square kilometers.
It is strategically located and the ideal business hub connecting 3 major continents – Europe, Middle East and Africa. It is EU’s nearest border to the MENA region.
Cyprus became a full member of the European Union on May 1st, 2004. Joined the Eurozone 1st of January, 2008 and is one of the most open and business friendly country in the world, with a favorable taxation system, making it one of the most attractive business places in the EU.
The Republic of Cyprus allows investors to obtain the Cyprus citizenship by investment under the provisions of the Council of Ministers’ Decision of 19th of March 2014 which brought into effect the Naturalization by exception program.
Cyprus citizenship program is the fastest comparing with other European programs.
Investors are now eligible to apply and obtain the Cyprus = EU citizenship, through the “Cyprus Investment Program” scheme
The Cyprus Investment Program requires Euro €2 million to be invested into business assets in Cyprus.
- The applicant is free to choose where to invest from a wide choice of options. There is no demand to invest in a designated real estate project(s) – an investor can choose any property he likes as long as the contract amount corresponds to the minimum requirement;
As soon as investment is made, investor is eligible to apply for citizenship and Passport is issued within 6 months.
Investment must be kept for a minimum period of three years.
The applicant/investor and all other adult members of the family must have a clear criminal record.
The applicant’s spouse and all financially dependent children up to the age of 28 can apply on the basis of the main applicant’s investment, Parents of main applicant are eligible to apply with an additional €500.000, on the basis of the main applicant’s investment.
Advantages of Cyprus Investment Program
- Cyprus passport is a full EU passport. Investor and his family can freely reside, work, study, open up business in any of the 28 EU-member states, as well as Switzerland, Liechtenstein, Norway and Iceland.
- Holder of Cyprus passport can travel visa-free in 159 countries in total
- All next generations retain EU citizenship
- No physical residence required to stay in Cyprus
- No donations required to Cyprus Government
- Second citizenship allowed and will not be reported to the country of investor. Acquisition of Cyprus citizenship is not reported to other countries
- Children of investor are exempt from military service
- No mandatory of Cyprus history and Greek language test
- It has one of the lowest crime rates in the world, ideal and safest place to live and raise a family
Where to invest:
Investments shall be made in one of the following ways:
- Residential property(ies) – €2million (here and below all property prices do not include VAT). If several residential properties are purchased, then one of these (investor’s own residence) has to be of a minimum of €500,000. Total: €2 million (Investor may as well buy 1 property, his own residence for the total amount of €2 million).
- Commercial properties – €2 million, plus a residential property for at least €500,000. Total: €2,5 million
- Purchase of shares or creation or participation in Cypriot businesses or companies – €2 million, plus a residential property for at least €500,000. Total: €2,5 million
- Investment funds, financial assets of Cypriot businesses or organizations – €2 million, plus a residential property for at least €500,000. Total: €2,5 million
- Government bonds (limited to €500.000; the balance €1,5million must be invested in other assets), plus a residential property for at least EUR500,000. Total: €2,5 million.
- Combination of the above options – €2 million, plus a residential property for at least €500,000. Total: €2,5 million
- If the applicant’s parents are included, they have to purchase a separate residential property for at least €500,000 or, as an option, it can be one unit in common ownership of the applicant and his parents of at least €1million.
Obviously the most attractive option is to invest €2 million (excluding VAT) in residential property(ies).
More detailed information can be found on our web site: http://cyprus-alliance.com/immigration/citizenship