Obtaining Cyprus Passport
Getting Cyprus Passport by Investment is a non-EU national’s gateway to Europe. Investors may choose to do this individually or as a group.
As per the decision of the Council of Ministers dated 19th March 2014, revised the “Scheme for Naturalization of non-Cypriot investors by exception” and, thus, established the new financial criteria based on which non–Cypriot entrepreneurs/ investors may acquire the Cypriot citizenship.
Among the criteria and the provisions, the applicant is eligible to apply for citizenship after direct investments through the purchase of properties (houses, offices, shops, hotels or a development of a similar nature, excluding underdeveloped land) in Cyprus with a minimum value of €2 million.
- The Applicant must have a clean criminal record.
- The applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least €500.000, plus V.A.T.
Benefits of a Cyprus (EU) Passport:
- Fast Procedure
Cyprus Passport is usually issued within three months. Passports are issued to the investor, their spouse and dependent children up to age 28, provided they are still in full-time education.
There are no tax consequences, unless you opt to become a tax resident in Cyprus. Cyprus has no inheritance tax, has a highly favourable corporate tax structure and a comprehensive double tax treaty network.
The Republic of Cyprus allows dual citizenship. Also, citizenship is passed on by descent, thus offering a legacy to future generations.
- Geographical position
Cyprus offers a great place to visit/live, it enjoys a strategic geographical position, offers excellent worldwide connections, has excellent infrastructure, a pleasant climate and is highly stable.
- Business Access
Through the scheme, investors are free to trade within EU through Cyprus, thus having business access to 500 million EU citizens.
With a Cypriot passport, one may enjoy visa-free travel to 157 countries. Cypriot passport holders can also quickly and cost effectively obtain visas for other countries, such as the USA.