Cyprus Citizenship by Investment
Programs for investor migration known as “citizenship by investment“ target international business professionals and overseas investors. In exchange for a sufficient investment in the economy of their respective nations, typically made in the form of real estate or government bonds, they grant citizenship rights in those nations. One such program, Cyprus citizenship by investment, enables high-net-worth international investors to obtain citizenship in Europe in as little as six to eight months, making it one of the simplest nations to obtain citizenship in.
Through the Cypriot Investment Program, qualified individuals can become citizens of Cyprus in just six months by investing in real estate. With a minimum investment of €2,200,000, it is the only direct citizenship scheme in Europe that provides such a straightforward path to dual citizenship without a need for residency. Citizens of Cyprus are free to live, work, and study in any of the 28 European Union countries, as well as travel to more than 173 other nations without a visa. After five years after receiving citizenship, investors may lower their real estate investment to €500,000.
The Republic’s Golden Visa program, which aimed to attract significant investment to strengthen the country’s economy, has been extraordinarily effective in that regard. The Cypriot government created a more stringent screening procedure to ensure that only investors with strong moral character can get citizenship under the Golden Visa scheme as a result of rising global demand.
The program grants Cyprus Citizenship by investment to successful applicants and their families in 6 months. Individuals seeking for the second passport have to invest €2.2 million in Cyprus economy and meet some additional criteria.
Options for investments in Cyprus
For the purposes of the Program, at least one of the following investments must be made. These investments may be made personally, by a spouse or jointly with a spouse, or through a business in which the investor holds a senior management position or is a shareholder.
- Financial involvement in construction, land development, and real estate projects : The main applicant must invest at least €2,000,000 in the acquisition or construction of buildings, land development, or other infrastructure projects in order to qualify for a Cyprus passport through investment, according to the government. Commercial, residential, or tourism-related land projects are all possible.
- Making a purchase, establishing a business, or participating in one in Cyprus: Citizenship in Cyprus can be obtained by investing a minimum of €2,000,000 in a Cyprus-based business, organization, or any combination of these.
- Investing in financial products and nontraditional investment vehicles: By investing at least €2,000,000 in alternative investment funds or financial assets of Cypriot businesses/organizations, applicants may be eligible to receive a Cypriot passport.
Bonds, bills, and securities issued by a business or organization that is physically located and operating in Cyprus are considered financial assets. Investments must be kept up for at least five years, and they must be backed up yearly by audit reports.
Benefits of CYPRUS RESIDENCY
- Fast track process: issued in less than two months
- Family is covered by the permit (including the parents of both applicant and spouse)
- No actual residence is necessary.
- Acquired property may be rented out
Does Cyprus give citizenship to foreigners?
Foreign nationals who have lived in Cyprus legally for a total of 7 years (2555 days) prior to the application deadline may file a citizenship application. Before applying, the candidate must have lived in Cyprus for the previous year without interruption.
Can I buy Cyprus passport?
By making an investment, you can become a citizen via the تأشيرة ذهبية scheme.
How can I get Cyprus citizenship?
Foreign nationals who have lived legally in the Republic for seven years previous to the application deadline may submit it. Instead of seven years, only five years are needed in situations involving aliens who are the parents or children of Cypriot citizens.
Can I get residency in Cyprus if I buy property?
You must spend at least EUR 300,000 (plus VAT of 19%) on a home or apartment to qualify for a fast-track permanent residency in Cyprus. Sellers could ask for a down payment. Cyprus does not have a property tax, however there are municipality taxes (cost varies with area and type of property).
How do I get residency in Cyprus?
A person and their family members may apply for a Permanent Residency Permit in Cyprus either by purchasing real estate there (the fast-track option) or by living there lawfully for a continuous period of more than 5 years.