Safest country in the world with a population under 5 million, Cyprus is an important hub in the heart of the Mediterranean at the juncture of Europe, Africa and Asia, it is diverse, culturally rich and perfect for working and traveling within and beyond the European Union. it has also seen a surge in foreign investments and developments, and property and investment values
Cyprus possessing a mild Mediterranean climate makes for an excellent holiday destination and its setting is ideal for raising families hasStrategic geographical location which is forming a bridge between the EU, Middle East and North Africa with direct access to the Mediterranean Sea. Recognized for its numerous investment opportunities, Investors also look at Cyprus for business and investment purpose. There are many benefits of Cyprus program like, approval of citizenship application within three months because it has a fast track procedure; one can submit both citizenship and residency applications at a time. There are also no physical residence requirements, one is just supposed to visit every seven years. No language requirements.Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.Right to own property in an EU member state. Civil unions are eligible to submit applications. There is no obligation to renounce current nationality. There isLow tax rates and free trade within the EU and Unrestricted right to live, work and study in Europe, it hasExcellent education system as well as first-rate health care.
However, to qualify for citizenship, applicants must fulfill one of the investment options below and hold it for three years in addition to meeting the following criteria:
- Own a valid passport.
- Should not possess criminal record
- The main applicant’s property should not be frozen within the boundaries of EU
- Be a resident before being granted citizenship (hence the simultaneous application for both residency and citizenship for non-residents).
- Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT.
- In the case that one chooses to invest in residential properties only and one of the residential properties is priced at at least €500,000, then the total investment amount must be €2 million.
Applicants are supposed to invest at least €2 million in the investment options given below:
Applicants may invest€2 millionin the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.They can invest at least €2 million
Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors mustmaintain the purchased assets for three years.
Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.
Applicants may invest in a combination of the above options but the combination of investments must total at least €2 million.