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Cyprus is an attractive place for business and staying with its warm and stable climate and convenient geographical location. Investing in Cyprus is very popular because of its qualified workforce, transportation system and telecommunications. Cyprus has a service-based economy and a free market, which, together with an effective and transparent legal framework, gives investors and international businesses the assertion for investment, growth and prosperity. Cyprus was ranked 53rd out of 190 countries in the 2018 list of “World Trade Facility”. The Second Cyprus Citizenship and Passport Program is the only fast program in Europe. People without a residence permit in Cyprus can obtain citizenship of the country and live and work anywhere in Europe with a Cyprus passport.

 

A brief look at the citizenship program through investment:

 

Duration of citizenship: 6 months

Supported nationalities: All nationalities

Visa-free travel countries: 171 countries, including Schengen, Canada, the United Kingdom, Singapore and Hong Kong.

Type of investment: Investment in real estate in Cyprus

Investment cost: 2 million and 200 thousand euros

 

Procedures for obtaining citizenship by investing in Cyprus:

 

Cyprus has a wide range of investment and citizenship options, starting from small residential properties up to luxury villas as well as commercial projects. To be eligible for the Cyprus Citizenship Program, an applicant can invest in residential real estate or choose a mixture of real estate and other investments. obviously, all investment methods for citizenship include financial assistance to the government.

 

Method one: Investment of € 2.200.000

 

€ 200.000: In this method, the applicant must pay € 100.000 to the Cyprus Land Development Company and € 100,000 to one of the Research and Innovation Foundations, the Energy and Renewable Energy Fund, Industry and Technology or the National Solidarity Fund.

 

€ 2,000,000 Investment : The applicant must invest at least 2,000,000 Euros in real estate. The duration of the investment is 5 years, after which the applicant can release his / her capital, but has to keep a property with a minimum value of € 500,000 as the main address to maintain his / her citizenship in Cyprus.

 

The second method : investing € 2,700,000

€ 100,000: like in the previous method, € 100,000 must be submitted by the applicant to the Cyprus Land Development Company and € 100,000 to one of the Research and Innovation Foundations, the Energy and Renewable Energy Fund, Industry and Technology or the Solidarity Fund National pay.

 

€ 2,500,000 Investment : The applicant must invest 2,500,000 Euros in one or a combination of the following:

-Real Estate: Residential, Commercial, Infrastructure and land (with land development plan)

-Establishment, participation or purchasing a company in Cyprus

-Investment in transportation sectors

-Alternative Investment Funds (AIFs) or Cyprus Financial Institutions (CySEC)

In this method, the invesپtment must be maintained for at least 5 years

 

Step by step to get Cypriot citizenship through investment:

 

Step 1: Applying for a residence of at least 6 months

It is essential to obtain residency in the early stages, to get citizenship, you must have at least 6 months residing in Cyprus.

 

Step 2: Invest

You have to choose one of the investment methods and pay your investment fee fully.

Step 3: Submit documents

Prepare the documents which is required by the Cypriot government.

 

Step 4: Register your citizenship application

By submitting your investment documents and other documents, register your application formally for residence in Cyprus and pay for the review and processing of information.

 

Step 5: Get citizenship

At this stage, you will receive an official letter to obtain your citizenship if approved.

 

Step 6: Apply for a passport

 

Cyprus Citizenship and Passport Benefits:

 

Possibility of living and staying in Europe

People with a Cyprus passport not only can travel throughout the EU, but also have the right to live, study and work in the European Union.

 

• Possibility of visa-free travel to more than 150 countries

• Fast process of applying for and receiving citizenship

The citizenship application process takes only 6 months.

 

•  Receive a passport and citizenship for the whole family

By acquiring citizenship through investing in Cyprus, dependents such as spouse, parents and children up to the age of 28 can also obtain citizenship.

 

•  Tax freedoms

Cyprus does not charge taxes on non-residents. This means that Cypriot citizens residing in other countries do not pay taxes. There is no dividend or inheritance tax.

 

•  A stable and secure country

Cyprus is a small country with a population of 5 million, known as one of the safest countries in the world.

 

• Citizenship without the need for residence

• There is no need for English

 

Cypriot citizenship requirements:

 

Be over 18 years old.

Not on the European sanctions list.

Do not have the citizenship of another country in Europe.

Have no criminal record.

Have no connection with companies or legal entities in the European Union.

Not a political person.

 

Tax laws in Cyprus:

 

•  Non-resident citizens have no obligation to pay tax on international income that is earned outside Cyprus. Cyprus tax is based on residence; people do not pay taxes unless they are in Cyprus for more than 183 days a year.

•  Low personal income tax rate starting at € 19,500.

•  50% income tax exemption from income from employment in Cyprus, provided that the income does not exceed € 100,000 per year.

•  No tax on profits from the sale of securities, including stocks, bonds and other investments

•  Low corporate tax rate (12.5%) for companies based in Cyprus

•  No personal income and profit tax for 16 years

•  Repayment of interest and capital without tax

•  Receive 5% tax on overseas pension income, which is more than 3420 Euros.

•  No wealth tax

•  No inheritance tax

•  No gift tax

 

 

General documents required to obtain Cypriot citizenship:

 

Evidence of a stable source for payment of investment funds

Send biometric data

Evidence of no criminal records

Passport

Resume (CV) for the main applicant, plus adult dependents

Birth certificate

Marriage certificate

3 pieces of passport photo

Investment documents and evidence

 

Cost of Cyprus citizenship:

 

Investment costs, based on one of the two ways, are between € 2,200,000 and € 2,700,000.

Cost of citizenship application form through investment: 2000 Euros for each adult applicant (80 Euros for each child under 18 years)

Certificate fee: € 5,000 per adult applicant (Free for children under 18)

Passport fee: 120 euros per person

The cost of issuing an ID card: 30 euros per person

Attorney's fees: on average, around € 30,000 - € 40,000 per family

 

 

Frequently Asked Questions about Cypriot citizenship:

 

How can one get Cypriot citizenship?

You can become a Cypriot citizen by investing at least 2 million and 200 thousand euros in less than 6 months.

 

Is there a need to learn a language?

There are no language requirements for citizenship when investing in Cyprus.

 

Can I get citizenship for my family?

Yes, you can get citizenship for your spouse, children (up to 28 years) and your parents (on special conditions).

 

Is Cyprus a member of the European Union?

Yes, Cyprus is a member of the European Union.

 

How much does Cypriot citizenship cost through investment?

Cypriot citizenship costs you at least 2 million and 200 thousand euros through investment.

 

Does Cypriot citizenship involve children and grandchildren?

Yes, children of Cypriot citizens are automatically eligible for citizenship, which means your children and grandchildren will receive Cypriot citizenship.

Is there a possibility for my Cypriot passport to be revoked?

Yes, if you do not meet the required conditions, such as selling your capital for less than 5 years or engaging in illegal activities.

 

Cypriot citizenship through investment is the best thing in Europe?

If you want to get European citizenship in a short time, the best country is Cyprus. Because you can only get citizenship in 6 months.

 

Does Cyprus allow dual citizenship?

Yes, Cyprus allows dual citizenship.

 

Can one invest several times for Cypriot citizenship?

Yes, you can invest in a variety of cases, but you must pay a minimum legal amount.

 

Can one rent my property in Cyprus?

Yes, you can rent your own real estate in Cyprus.

 /https://www.astons.com/citizenship-by-investment/cyprus /https://www.globalcitizensolutions.com/cyprus-citizenship-by-investment https://www.citizenshipinvest.com/en/our-programs/fast-citizenshipprograms/cyprus /https://www.henleyglobal.com/citizenship-cyprus-overview https://www.goldenvisas.com/citizenship-by-investment-cyprus /https://www.astons.com/citizenship-by-investment/cyprus

 

 

 

 

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