Immigration Matters: Cyprus, the easiest route to EU citizenship

Immigration Matters: Cyprus, the easiest route to EU citizenship: Cyprus is a modern fast-growing EU country, which is also steeped in history. The Bible mentions the early Apostles who travelled to Cypr...

Cyprus, the Fastest Route to EU Golden Visa Citizenship and Permanent Residency

Cyprus is a modern fast-growing EU country, which is also steeped in history. The Bible mentions the early Apostles who travelled to Cyprus and formed early Christian churches in the region during the days of Roman Empire.

As a member of the European Union and Commonwealth, Cyprus is strategically placed to take advantage of economic growth in a growing region straddling Europe and the Middle East.

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, a 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. And with at least 320 days of sunshine a year, and classified as the sunniest European location, you can enjoy an incredible lifestyle on this beautiful island in the sun.

Europe has established itself as the most sought-after region in terms of high net worth immigration, accounting for over half of the total number of global citizenship applications, with the Caribbean in second place, followed by North America in third. Recent studies conducted by global immigration experts, ranked the Cyprus Citizenship by Investment Program among the “top ten best in the world”.

The Cypriot immigration policy and legal framework now enable Non-EU applicants to obtain Cypriot citizenship on an expedited basis – fast. There are a number of reasons the Cyprus Citizenship by Investment Program is now considered to be the most attractive in Europe, including:

·        Application process takes 6 months, with approval granted within 2 to 3 months, being by far the fastest route to EU Citizenship.

·        There is no requirement to make a donation to the local government, in contrast to many other citizenship programs worldwide.

·        Cyprus does not require applicants to live on the island prior, during or after the application process, unlike all other EU countries with citizenship programs that impose residency requirements.

·        Simple and straightforward application process with no requirements to disclose source of wealth or funds,

·        No medical testing, no interview, and no language requirements.

·        Approved by the EU (being one of only two CBI programs in Europe with official EU approval).

·        English is widely spoken.

Since 2013, there have been over thousands of successful applicants under the Cypriot programme, generating more than €3 billion in investment.

How does the Cyprus Citizenship and Passport to EU Programmework?

A minimum investment of €2.0 million in property or real estate is required, plus a donation of €75,000 to the Governments Research and Development fund  and €75,000  to the Land Development Organisation.

Cyprus uniquely offers a fast-track route to citizenship within just 6 months of making the required investment. This guarantees a Cypriot passport and citizenship of an EU country, giving the holder the right of freedom of movement and work, travel, study and to live anywhere within the EU, including countries such as Germany, France and Italy. The investment may be reduced down to €500,000 after 5 years.

The obvious attraction for high net worth individuals is the rapid citizenship for qualifying real estate investments.

How does the Cyprus Permanent Residency Programme work?

Investors can secure permanent residency rights in Cyprus through investment in new property or real estate in the country. The permanent residency programme is one of the fastest and straight forward investor visa programmes in Europe. It requires investment of only €300,000 into property to gain the Cyprus residency permit.

The permanent residency visa is granted within two months of the investment and covers the whole family including parents - of both the main applicant and spouse - plus dependent children up to the age of 25. Residency is valid for life and can be passed down to dependents and spouse.

The permanent residency programme offers rights of travel throughout the European Union and requires a single visit to Cyprus by all family members every two years.

Investments may be made by a company for which the main applicant and spouse are beneficial owners. The investment can be in to a maximum of two brand new properties provided they reach the €300,000 permanent residency limit.  

If you would like more information about the EU Golden Visa Cyprus Investment Programme, email charles@charleskelly.net