What is the Cyprus Investment Scheme?
The Cyprus Investment Scheme offers the most simple and efficient means of obtaining Cypriot citizenship. It is the only direct citizenship program as it has absolutely no residency requirement and citizenship is approved in just 6 months. Investors and their families can obtain full EU rights, including the ability to live and work in any EU country practically immediately! Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investment. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.
Why to obtain for a Cypriot Citizenship?
You have the unrestricted right to live, work, travel and study anywhere in the European Union. A Dual Citizenship is permitted. All nationalities can apply for the program. You can travel Visa-free to 168 countries. Free trade within EU, business access to 500 million EU citizens Cyprus has no inheritance tax, has a highly favorable corporate tax structure and a comprehensive double tax treaty network Cyprus offers a great place to visit/live, it enjoys a strategic geographical position, offers excellent worldwide connections, has excellent infrastructure, a pleasant climate and is highly stable. Establishment and free movement of services and goods.
The advantages of the Cypriot Citizenship
• Citizenship granted within six months • Cyprus allows dual citizenship • All nationalities eligible • No tax consequences • No physical residency requirement • No language requirement, medical test or interview • Pure investment, no donation required • Exit strategy after 3 years Citizenship is passed on by descent, thus offering a legacy to future generations • Passports issued to the investor, their spouse, dependent children up to age 28 (provided they are studying) and parents of main investor
Investment Criterion and Conditions
€2 Million investment in residential real estate (the investment can be in a single property or a portfolio) Parents of the main investor can be included in the application provided that they purchase a permanent residence property with a value of at least €500,000. This amount can be pooled in the main investment if preferred.
- The main investment may be sold after three years; however, the investor must always maintain/purchase a property with a value of at least €500,000
- Property purchased up to 3 years prior to the submission of the citizenship application will count towards the required investment
- Applicants must hold a clean criminal record from the country of origin and country of residence if different and their name must not be on the list of persons whose property is ordered to be frozen within the EU.
What is the Cypriot PERMANENT RESIDENCY BY INVESTMENT?
The Cyprus PR program offers non-EU nationals guaranteed permanent residency within 2 months with a single, secure, real estate investment of €300,000. It applies to the investor, their spouse dependent children up to age 25 and the parents of the applicant and spouse. The permits are valid forever! The process is extremely straightforward and can even be arranged remotely.
Why to obtain this Permanent Residency?
You have the Freedom to live freely in Cyprus. Permanent residency is valid for yourself and dependents up to age 25. The permits for yourself and dependents are valid forever, no renewal is required. It offers an insurance policy for the future. It enables you to own a business in Cyprus. It gives you the right to apply for citizenship after 7 years (according to the government‘s requirements and terms). And it allows you to travel throughout Europe with ease. It enables you to access first class healthcare and education. A risk-free property investment of only €300,000 is required. The process and requirements are very simple and the permit is guaranteed to be issued within 2 months. It has a 100% approval rate.
The advantages of the Permanent Residency
• 100% approval rate • Permits are issued very quickly (3 weeks – 2 months) • Simple criteria, language proficiency, education certificates and medical examination aren’t required • A single day visit, once every two years is required.
Investment Criterion and Conditions for the PERMANT RESIDENCY
1. A property investment of minimum 300,000€ (excl. VAT) and without movables. It has to be a new developed property. The property can be also put into a companies’ name (which is registered in the applicants name or it can be put in applicants and spouse name). The purchase is limited to 2 units. As the Government has stipulated that this official program is only valid for new developed properties, the properties have to be purchased directly from a qualified and registered developer. For the application the applicant has to provide a payment receipt of at least 200,000€ (excl. VAT)
2. Annual Income: The applicant must provide a declaration of a secured annual income from a legitimate source, from outside of Cyprus. The minimum income per applicant is €30,000, and additional €5,000 per dependent and €8,000 per dependent parent/parent in- law. The annual income of the spouse can be estimated for the purposes of this criterion.
3. Fixed Deposit: A statement of deposit must be provided showing a €30,000 minimum deposit in a Cypriot bank account of the applicant, which will be locked for a period of 3 years. After the expiration of this period the money will be released without restriction.
4. Statement of intent: The applicant must provide an official statement, confirming that he/she does not intend to work in Cyprus. However, the applicant and/or his wife are entitled to be a shareholder and receive income from the dividends of a company registered in Cyprus without affecting their application or permit.
5a. Dependents (children) over 18 years old: Permits may be granted to unmarried dependents aged 18-25; provided that it is proved that they are in full-time education outside of Cyprus with a remaining studying period of 6 months from the submission of the application and are financially dependent on the applicant/s. If the adult children are in higher education in Cyprus they will be eligible to be included in the applicant’s permit once they’ve completed their studies, irrespective of their age. In such cases the requirement of secure annual income is increased by €5,000 per dependent child. That permits granted to all dependents are valid forever.
5b.Non-dependents (children) over 18 years old Permits can also be obtained for non-dependent children over 18 years old. For example: An applicant who has a child aged 30 years old, should purchase a property/properties with a purchase price of €600,000 or above, and provide a payment receipt for at least €396,000.
6. Required documentation: The applicant must submit a criminal record certificate (issued from the country of origin), health insurance policy, marriage certificate and children’s birth certificates. A Curriculum Vitae (CV) and copy of a passport (valid for at least 2 years) are also required.