You - a Cypriot passport, Cyprus - investments
One of the steps to overcome the crisis was the Citizenship by Investment program, adopted in 2013. Where else within six months can you become the owner of a Cypriot passport and an EU citizen for 2 million euros - taking into account the fact that you do not "give" this money, but invest it with the right to return in three years? The only condition is that a house or other property in Cyprus worth at least 500 thousand euros must remain in your property for life (which does not prevent you from renting it out). At the same time, the government relied on the private sector: 1.5 of the required 2 million euros should be invested in Cypriot companies, investment funds, real estate, etc., for the remaining 0.5, government bonds can be purchased.
Obtaining a Cypriot passport when buying a propertyIt is respectable that in a difficult economic environment, Cyprus donated part of its direct revenues to the state budget for deferred benefit: for example, the “non-dom” tax status exempts foreign residents and persons who have recently become citizens of Cyprus from paying tax on income received outside the country ... Since 2017, the tax on residential real estate has been completely abolished. The tax relief on the transfer of ownership has been extended: when buying a new building, the tax is not paid at all, when buying a second home, the rate is reduced. And, of course, one of the main "baits" for investors from third countries (including Russia) is the simplicity and transparency of the procedure for obtaining Cypriot citizenship.
All these measures did not hesitate to affect the situation in the country: the protracted crisis in the real estate market, when prices for all real estate items dropped by a third, gave way to active growth. Another implicit, but financially tangible benefit from the reforms is to improve the quality of construction - developers began to focus on picky foreign buyers who want to get modernand most comfortable housing for their money.
Obtaining a Cyprus passport and EU citizenship in about six months: feel the difference
If you intend to become a citizen of the European Union, then the option offered by the Republic of Cyprus is optimal in terms of the sum of the conditions. Judge for yourself:
- In most European countries, you can count on citizenship only after a few years - even if you invest very significant sums in the economy of these countries.
- The investment will secure a Cyprus passport not only for you, but for your entire family, including your spouse, parents and children.
- You do not have to take an exam in Greek or English.
- You are not required to reside permanently on the island either before or after obtaining your Cypriot passport.
- You must not renounce Russian or any other citizenship.
- Equality in rights with indigenous Cypriots (and in terms of paying taxes, you will be even in a better position than the "natives").
- Together with a Cyprus passport, you get visa-free entry, the right to work and live in more than 150 countries.
Cyprus passport - by investmentThe restrictions on obtaining a Cypriot passport are minimal: perhaps the only thing that can prevent entry into the European Union is an outstanding conviction, debts and other problems with the law. If you are not ready to invest 2 million euros in the economy of Cyprus, there are other schemes for obtaining European citizenship. Cyprus needs not only money, but also working hands and smart minds: by getting a job in a Cypriot company or opening your own business on the island, you will receive a residence permit. In a few years - if there are no problems with the tax authorities and the police - you will be able to apply for citizenship.
