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Description

Cyprus- Citizenship by investment

QUICK FACTS
LOCATION Is located in the Mediterranean sea. To the south of Turkey, to the west of Syria and Lebanon, to the northwest of Israel, and to the southeast of Greek mainland.
POLITICAL STATUS a unitary presidential representative republic
CAPITAL Nicosia
POPULATION 1,170,125
SIZE 9,251 km2
LANGUAGE Greek – Turkish
CURRENCY Euro (EUR)
TIME (GMT+2)
DATE OF INDEPENDENCE 1 October 1960
GOVERNMENT TYPE Unitary presidential constitutional republic
LEGAL SYSTEM Cyprus law adopts precedents derived from the English Common Law for Stability and Finalism. The Republic of Cyprus is a democracy with a presidential system of government. The President is elected for a term of five years directly by the people in secret ballot with universal suffrage.

 

INTRODUCTION: 

The Republic of Cyprus is an independent island State, Nicosia is the capital. Cyprus has a long and ancient history where the island was inhabited more than 10,000 years ago in ancient times. It was one of the most powerful and rich countries in the Mediterranean, and the ideal location made it a very desirable piece of land for other countries.

Over the years, many countries fought for Cyprus to be their own including the Ottoman and British empires. However, in 1960 Cyprus finally gained its independence from Britain and became the Republic of Cyprus.

The country has beautiful sandy beaches that attract tourists from all over the world where the terrain on the island is mostly rocky. There are two mountain ranges on the island: the Kyrenia and the Trudos Mountains. The latter is particularly interesting with its highest peak being the legendary Olympus Mountain which reaches an impressive height of 1.951 meters.

Investment criteria:

Applicants under Cyprus Citizenship by Investment Programme must choose one of the potential routes to citizenship:

  • Purchasing real estate, land developments, and infrastructure projects; or
  • purchase, establish or participate in Cypriot businesses and companies Investment in financial assets of Cypriot companies or organizations licensed by the Securities and Exchange Commission; or
  • purchase, establish or participate in Cypriot businesses and companies; or
  • Group of investments listed above.

Application criteria

  1. Applicant must be at least 18 years 
  2. Valid passport.
  3. Original birth certificate.
  4. Good Health, applicants should have excellent health and must show that they do not suffer from any contagious diseases.
  5. Documents supporting the source Proof that the applicant has no criminal record.
  6. Able to provide proof of source of funds. 
  7. Does not have frozen assets within the EU
  8. A residence permit in the Republic of Cyprus.
  9. Own a permanent private residence in Cyprus with a purchase price of at least €500,000 and applicable VAT.

Benefits of Cyprus citizenship program: 

  1. Visa-free travel to more than 155 countries around the world, including EU Schengen, United Kingdom, China, Japan, and Canada.
  2. Low tax rates and free trade within the EU.
  3.  Good living and a first class healthcare system.
  4. The rights to study, live, and work in any of the 28 EU countries.
  5. Excellent Educational.
  6. Safety, Cyprus is a peaceful and politically stable country.
  7. High quality living standards
  8.  The ability to pass one’s citizenship to future generations by descent.
  9. The ability to Include the spouse and children under the age of 18 in the main applicant application.
  10. First class citizenship.
  11. Dual Nationality. 
  12. Full confidentiality in carrying out the procedures.
  13. Ownership of the 16th ranked passport in the world.

Benefits of the program:

  1. The processing for citizenship program takes 4-6 months after finishing the application form, supporting documents and payments.
  2. No interview, education, or management experience required.
  3. No language requirements.
  4. No physical residency from new citizens. Except that applicants must travel to Cyprus at less once.
  5.  There is no need to renounce your current citizenship.
  6. One of the fastest Citizenship-by-Investment Programme in Europe

The Features of Cyprus passport:

  • Good visa-free travel:

Currently, Cyprus citizens can travel to more than 155 countries without the need to follow a cumbersome visa application process. A vast majority of these countries allow Cyprus citizens to stay 30 to 90 days without any visa requirement while some countries grant visas upon arrival or issue electronic visas upon online application.

CYPRUS PASSPORT ALLOWS VISA-FREE AND VISA ON ARRIVAL TRAVEL TO MORE THAN 155

THE MAIN STEPS TO GET CYPRUS CITIZENSHIP BY INVESTING:

The process may be simplified into the following steps:

Step 1

Visit Cyprus as a first step, NTL will arrange the offers either for real estate or investment, and meeting with a legal representative. If investors cannot visit in this stage, they can choose and reserve a property remotely with the help of NTL.

Step 2

After choosing the appropriate investment, the due diligence and all supporting documents will be submitted. Also, once applying for citizenship a permanent residence permit for less than two weeks will also be submitted. Each applicant is required to be a Public Relations Cardholder for at least 6 months prior to receipt of the passport / national ID card. 

Step 3

Biometric data must be provided, either during the visit of Cyprus or by visiting certain Cypriot embassies at one of these cities: London, Moscow, and Pretoria can offer this service. It is also possible at this stage that investors collect their residence permit cards. 

Step 4: 

Approval in principle, the time frame which set by the government to check the citizenship application is 3 months from the date of application. At this point, the applicant will receive an “original” certificate.

Step 5

Once you receive an application approval from the Ministry of Interior, the procedure for the acquisition of the Cypriot citizenship will be concluded, following the completion of a 6 month period holding the residence permit.

 

ECONOMIC CITIZENSHIP:

  1. INVESTING IN REAL ESTATE, DEVELOPMENTS, AND INFRASTRUCTURE PROJECTS

Under this option, the main applicant has to purchase or construct a real estate project with an investment value of not less than 2 million €. Also, the main applicant can choose to acquire a land that is under development as long as the demand is accompanied by a development plan. Agricultural land is not considered an eligible investment under this option.

  1. INVESTMENT IN FINANCIAL ASSETS OF CYPRIOT COMPANIES OR ORGANIZATIONS LICENSED BY THE SECURITIES AND EXCHANGE COMMISSION

Under this option, the main applicant must purchase the financial assets of Cyprus companies organized by the Cyprus Securities and Exchange Commission, such as the units of alternative investment funds (AIF) and bonds/shares/securities/bonds of Cypriot companies (organized by the Cyprus Securities and Exchange Commission). This purchase needs a value of not less than 2 million € .Besides, this investment must be maintained for at least 3 years by the Principal Applicant from the date of purchase.

  1. PURCHASE, ESTABLISH OR PARTICIPATE IN CYPRIOT BUSINESSES AND COMPANIES 

The main applicant must either purchase, establish or participate in businesses or companies that based and operate within the Republic of Cyprus. The minimum investment in this activity it must not be less than 2 million €. And the companies require to employee at least 5 citizens of Cyprus or EU. In addition, if more than one application for citizenship is made while using the same company, the number of employees required for increasing. The staff members referred to shall have been resident in Cyprus for at least 5 years prior to the submission of such application.

 A senior member of a company can also apply for citizenship if his / her remuneration in the company earns a local tax income of € 100,000 or more over a period of 3 years, provided that it maintains its investment in the said company for a further 3 years granting the citizenship day.

  1. COLLECTION OF INVESTMENTS LISTED ABOVE

Under this option, the main applicant can choose to invest in a range of investment options listed above. However, the total value of the combined investments must not be less than 2 million €. 

Cyprus visa free traveling