European citizenship
The program for obtaining Cypriot citizenship offers the simplest (among EU countries) and effective way for investors and their families to obtain the full rights of EU citizens.
This Program of Economic Citizenship does not require living in the country for a certain period of time and passing language exams.
Usually within 6-12 months, you will receive a passport, which will become your "key" to Europe.
Cyprus has suspended its citizenship-by-investment program, in its current form, effective from 1 November 2020.
- This was the fastest citizenship program in Europe. The procedure took around 6-12 months.
- The investor had the right to return his investment after 3 years, subject to ownership of a residential property in the amount of at least € 500,000 euros (+ VAT, if applicable)
- Citizenship was granted to all family members - husband, wife and all financially dependent children under the age of 28.
- Investor did not have to reside in Cyprus before, during or after applying for citizenship.
- Dual citizenship was allowed in Cyprus and the fact of acquiring Cyprus citizenship is not disclosed.
- When purchasing an additional property for € 500,000 euros (+ VAT, if applicable) was the possibility of obtaining passports for parents.
- Minimum investment of € 2.0 million (+ VAT, if applicable). Real estate investments are also recorded.
- As owners of a Cypriot passport, your family gained the freedom to live, work, do business, study and travel anywhere in the EU, Switzerland, Liechtenstein, Norway and Iceland.
- There was no need to take any language proficiency tests or knowledge of Cyprus history.
- You could travel without visas to 147 countries around the world, including Canada and Australia.
- Cyprus passport holders are exempt from double taxation and have the right to financial confidentiality.
- The right to European social packages.
- Access to European loan programs.
The
Cypriot government, seeking to support the economy of the republic, invites
foreigners to obtain European citizenship by investment. This is called the
"golden passport". This method of obtaining citizenship is a common
practice in several other countries in the EU and around the world. In terms of
the number of rights and freedoms granted, the Cyprus passport does not differ
from a passport issued by France, Germany or other European states. Therefore,
this opportunity is actively used by foreign investors, heads of various
international companies and celebrities.
Pecularities
of obtaining a "golden passport" of Cyprus
The
current legislation and the migration policy of the republic make it possible
to obtain local citizenship in a short time if a non-resident of the country
makes investments in the economy in the amount of 2 million euros or more. You
can receive a passport of a citizen of Cyprus with the following investments:
1.
Starting a business and hiring local workers.
2.
Purchase of residential or commercial real estate.
3.
Acquisition of shares, bonds, and other securities.
The
Cyprus Golden Passport Law does not oblige to live in the republic itself at
the time of obtaining citizenship or after the completion of this procedure. At
the same time, after 5 years, you can return your investment by selling the
purchased real estate, securities, or the established business. It is possible
to obtain a "golden passport" of Cyprus in an expedited manner. The
entire procedure for obtaining citizenship will take no more than 4-6 months
and for its successful completion your knowledge of language and history would
not be tested – this is not a requirement.
What
can the "golden passport" of Cyprus offer?
If
earlier you did not know about the "golden passport" of Cyprus, what
it is or how to get it, then the list of the advantages that this document
provides is probably also unclear. It should be noted right away that,
according to the current laws of the republic, dual citizenship is permitted.
Therefore, when obtaining a Cyprus passport, you can remain a resident of
another country while the information about your current status will be
disclosed.
Obtaining
citizenship offers very attractive opportunities - taking into account the fact
that Cyprus is part of the European Union, Cyprus passport gives the
corresponding rights and freedoms. By becoming a citizen of the republic, you
can live, work and study in any EU country without a visa. At the same time,
the Cyprus passport is offered not only to individual investors but also to
their family members, which becomes a very weighty argument if you are thinking
about moving permanently.
Another
important advantage is the possibility of visa-free visits to 156 countries.
The "Golden Passport" of Cyprus opens the borders of the countries
belonging to the Schengen zone. Moreover, you can freely visit Canada, the
United States and the countries of North, South America, Asia, Africa, the
Middle East.
Business
representatives also seek to obtain citizenship of the republic in order to
optimize the taxation system. In addition, a valid Cyprus passport will help to
avoid other insurmountable obstacles businessmen may face at home that
continuously hinder development and commercial success.
If
you just dream of moving to the EU and have not yet decided on a suitable
country, we recommend that you pay attention to Cyprus. It is the third largest
island in the Mediterranean by area and population. The republic is
distinguished by a high standard of living, mild and sunny climate, natural
wealth and diversity. Those make Cyprus especially attractive to tourists. At
the same time, the Cyprus government pursues a favorable taxation policy that
contributes to the growth of businesses. The republic has a high safety index
and a low cost-of-living ratio. The population itself is friendly towards
migrants. In large cities, there are many schools in English and Russian, while
the health care system is also well developed and is represented by both public
and private medical institutions.
How
to get a Cyprus passport?
If
you decide to apply for EU citizenship, you must ensure that the following
conditions are met:
1.
Availability of a valid Schengen visa.
2.
Successfully passing the due diligence and legitimacy check of funds invested
in the economy.
3.
Making donations to the Cyprus Land Development Corporation and the Research
and Innovation Promotion Foundation in the amount of 75 thousand euros.
If,
before obtaining a Cyprus passport, you have already applied for citizenship in
another EU country but got refused, the government of the republic will also
not be able to satisfy your request.
Subject
to all the conditions described, you can count on the successful registration
of the "Golden Passport" of Cyprus. If you decide to invest in real
estate for the purpose of acquiring the passport, contact the specialists of
P.L. Property Gallery Developers & Constructors Ltd. Our company is the
largest developer in the republic and offers its customers a wide selection of
houses, villas, cottages, apartments, penthouses, apartments for every taste and
for every budget. Along with this, you can get a full range of related services
from us:
1.
Selection of residential and commercial real estate.
2.
Legal support of the purchase and sale transaction.
3.
Examination of existing documentation.
4.
Assistance in solving migration issues.
5.
Rental housing and property management.
6.
Decoration of the exterior and interior according to the designer projects.
By
entrusting the purchase of real estate to P.L. Property Gallery Developers
& Constructors Ltd., you get impeccable service at all stages of the
process and a guarantee of financial and legal security.
