EU CYPRUS CITIZENSHIP

Cyprus Residence Permits

Reduced Criteria

On 28th March 2014, the Cyprus Government announced changes to the legislation that enables foreign investors to become a Cypriot (EU) citizen and obtain a Cypriot passport through naturalization, making it more accessible and affordable than ever.

One of the key benefits of the Cyprus citizenship program is that it involves a secure investment, rather than a donation like in many countries. The new investment schemes are as follows:

Scheme 1.

A €2.0m investment in a single luxury property

Scheme 2.

A € 2.0 million (plus vat) - Real estate investment

• Out of which a property to be used as a permanent residence of a minimum value of € 500,000. The residence must be retained by the investor
• The remaining € 1.5 million can be invested in other properties, including residential, commercial and plots which may be resold after 3 years.

Conditions

• To maintain the citizenship, the investor must always keep in his possession a real estate property of minimum value €500,000 which will be declared as his permanent residence, whereas the remaining investment may be sold after 3 years.
• Any property purchased during the past three years will count towards the above mentioned investment figures. In such cases the purchaser must acquire additional real estate to reach the total required investment. However, a three year period must not have passed before the application submission.
• Applicants must hold a clear criminal record from the country of origin and or Cyprus.
• Applicants will be part of a collective real estate purchase scheme. A minimum of 7 applicants is required for scheme 1 and 5 applicants for scheme 2.

Key Points

Passports will be issued within a period of three months.
- No residency requirement.
- Passports will be issued to the investor, their spouse and dependent children up to age 28.

Benefits

Cyprus passport holders may enter, reside, study and work in the European Economic Area (European Union, Iceland, Liechtenstein, Norway) & Switzerland without a visa.
Same rights as any European Citizen
Cyprus allows multiple citizenship
You can travel, live, work and study anywhere in the European Economic
Area (European Union, Iceland, Liechtenstein and Switzerland)
Travel to 170+ countries without a visa
Offers an effective tool for family and tax planning
Offers an additional insurance against political instability
Cyprus has zero inheritance tax
Enables access to some of the best healthcare and education in the world

EU Destinations Overview

 Germany

- Education including university free of charge
- Healthcare through medical insurance
- Unemployment benefits & retraining
- Child benefits from 2nd child
- Pension entitlement

Sweden

- Education including university free of charge
- Healthcare free or very low cost
- Unemployment and disability benefits
- Housing benefit and child benefit from 1st child
- Pension entitlement

France

- Education free of charge
- University fees below €250p.a.
- Healthcare through government medical insurance
- Unemployment benefits & retraining
- Child benefit from 1st child
- Pension entitlement

UK

- Education free of charge
- University standard fees & loans available
- Healthcare free of charge
- Unemployment & housing benefit
- Child benefits from 1st child
- Pension entitlement