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Cyprus citizenship: benefits for Russians.

Cyprus citizenship: benefits for Russians
The Republic of Cyprus is an island state located in the eastern part of the Mediterranean. The region has mild climate, which is comfortable for living and recreation. It is also an EU member-state. These two factors are the main ones for choosing this country as a permanent residence. And the benefits for Russian citizens are not limited to this. 

5 reasons to obtain Cyprus citizenship

Cyprus citizenship for Russians is a great tool for doing international business and providing comfortable living conditions. Becoming a resident of the Republic, you can keep your local passport. In Cyprus, dual citizenship is allowed and information about the local status is not public. There are at least 5 reasons why Cyprus citizenship is becoming so desirable and necessary for Russians. 

1. European rights and freedoms
The Republic of Cyprus is an EU member-state, which grants its citizens all the benefits and privileges provided for in this geopolitical alliance. While applying for a local passport, you can live and work in Europe, enjoy visa-free trips to more than 150 countries that are part of the Schengen Area. 

2. Expansionary taxation policy
This factor is most attractive to businessmen. Many companies open offshore branches in Cyprus, which help to bypass the high tax rates in their country and get the maximum profit from the business. By applying for Cyprus citizenship, a Russian can reduce the cost of mandatory fees for the maintenance of the local real estate and has numerous other privileges. 

3. Developed infrastructure
The Republic is perfect for a comfortable life with the whole family. A good geographical location makes Cyprus an active business center with lots of job opportunities. The local healthcare and education system is also well developed. There are many private clinics, schools, and universities in the cities. And some of them offer educational programs in English and Russian. Therefore, a child who has received Cyprus citizenship can successfully get a secondary school certificate and enroll in one of prestigious European universities. 

4. Similar cultures
When obtaining Cyprus citizenship, a Russian should not worry about long adaptation period to get used to new traditions and customs. The population of the Republic is Orthodox with many immigrants from the CIS countries. The culture itself is very rich and diverse. Over its millennial history, Cyprus has accumulated a huge number of myths and legends, as well as archaeological evidence of ancient peoples preserved. 

5. Comfortable climate
Cyprus is like earthly heaven. There are extremely mild winters and warm summers with no cloudy days at all. The tourist flow in the Republic almost never runs out. Many people seek to obtain Cyprus citizenship for visa-free trips to the country. It is especially advantageous to be local resident if you own property here. 

How can Russians get Cyprus citizenship?

If you decide to move to the Republic or simply become its resident, there are several ways to make it happen. 

  1. Obtaining Cyprus citizenship by naturalization. 
  2. Marriage with a Cypriot citizen. 
  3. Obtaining Cyprus citizenship by investment. 

The first two options are the most difficult ones. To pass the naturalization procedure, you will need to obtain a residence permit, pass language and history exams, and at least 10 years of residence in the Republic. If you like it simple, pay attention to the possibility of obtaining Cyprus citizenship for Russians by investment. 

The local government has developed a special program that allows you to apply for an EU passport in 6-12 months. You need to invest EUR 2,000,000 in the local economy in one of the following ways or a combination of them. 

  1. Purchasing securities. 
  2. Starting a business. 
  3. Purchasing real estate. 

Wealthy Russians prefer to obtain Cyprus citizenship by purchasing residential and commercial real estate. This allows investing money profitably and quickly get a local passport, as well as organize your own place for comfortable rest, work and passive income. Participation in the Cyprus citizenship by investment program is also beneficial since money invested can be returned in 5 years without losing residency. Passports are issued not only for the investor but also for his or her spouse and financially dependent children under the age of 28. 

Cyprus has suspended its citizenship-by-investment program, in its current form, effective from 1 November 2020.

Cyprus citizenship for Russians with maximum benefit

If you would like to become a resident of the Republic in a short time, please contact P.L. Property Gallery Developers & Constructors Ltd. We offer a wide range of real estate in many regions of the country. Obtaining Cyprus citizenship for Russians will be no big deal for you, since experts from P.L. Property Gallery Developers & Constructors Ltd. take on a whole range of issues. 

1. Selection of residential and commercial real estate under individual requirements. 
2. Legal assistance in the transaction, examination of documents prepared. 
3. Assistance in resolving migration issues. 
4. Sale of residential and commercial real estate in Cyprus. 
5. Landscaping, gardening, interior design. 
6. Management of purchased real estate. 

Our company is the biggest real estate developer in Cyprus with 18+ years of experience in the local market. We know all the nuances of purchasing apartments and houses in the region and have earned the trust of hundreds of clients and partners. If you would like to apply for Cyprus citizenship by real estate investment, please contact managers from P.L. Property Gallery Developers & Constructors Ltd. now for detailed advice on all related issues.
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