Cyprus has recently been ranked the 5th best relocation destination in the world by an international lifestyle review (source : 2014 report prepared by Knight Frank, leading independent, global real estate consultancy firm). Ranked by key business and leisure indicators, Cyprus was the only European country alongside Switzerland to make it into the top five – ahead of London, Madrid and Monaco. Cyprus ranked highly because of its favourable tax regime for new residents, particularly high net worth individuals.
With at least 320 days of sunshine a year, Cyprus was classified the sunniest European location. Also, noteworthy, are recent studies conducted by global immigration experts, ranking te Cyprus Citizenship by investment program among the “top ten best in the world”.
- Certificate of Naturalization
INVESTMENTS & PREPARATION
- Investment minimum Euro1.5 million
- Purchase main residence; Euro 500,000
- Prepare Residency (if applic.) & Citizenship Application File
- Prepare supporting documents
- The ministry of Interior conducts due diligence & issues confirmation of submission of application for CBI
- In Principle Approval for the citizenship application is granted within 2-3 months. Passports and Certificates are issued within 6 months of filing.
Cyprus Citizenship by Investment is available to investors in Cyprus by Exception pursuant to the Decision of the Council of Ministers may grant citizenship by naturalisation to foreign entrepreneurs. Additionally, the Law provides for the granting of the Cypriot citizenship by investment to the spouse, children as well as parents of the investor. Neither the spouse not the children are obliged to meet any additional financial criteria.
- 6 months Process: Fastest route to EU Citizenship.
- No Minimum Physical Residency prior, during or after Citizenship.
- EU free Movement of Goods, Services, Capital.
- Residency Permit issued within 5 days of Application.
- Valid for Life
- Citizenship Transferrable to Descendents
To qualify under the regulations, the main applicant for citizenship must be at least 18 years of age and must meet the requirements outlined in this factsheet.
DEPENDANTS AND PARENTS ARE ELIGIBLE
The main applicant may also add dependents to a citizenship application including his/her spouse and children, as well as parents to benefit under the Cyprus Citizenship by Investment Programme.
“Children” includes those up to the age of 18 and children from the ages of 18-27 if they are financially dependent on the main applicant. Additionally, an investors’ child with severe physical or mental disability that makes him or her unable to work is also considered as financially dependent.
Parents of the main applicant may be included in the same application provided an additional 500,000 Euro investment is made in residential property in Cyprus.
- Purchase main residence : 500,000 Euro
- Invest a minimum of 1.5m Euro in residential property or 2m Euro in other investment options. Investment on property can be reduced to a minimum of 500,000 Euro (plus VAT, if applicable), after 3 years
- These include investment in financial assets of Cypriot companies /organizations, investment in Alternative investment Funds or financial assets of Cypriot companies licensed by the Cyprus Securities and Exchange Commission(CySec) or a combination amounting to 2m Euro
- Clean criminal conduct
- Investor’s name must not be included on the list of persons whose property is ordered to be frozen by the EU