Cyprus – The Central Hub of The Mediterranean Sea: –
Cyprus is an island situated in the Mediterranean Sea and is often referred to as “The Island of Love”. Cyprus acts as an important hub in the Mediterranean Sea and is a place which is culturally rich making it perfect for working & traveling in and out of the European Union. Cyprus’s economy seems to bolster up as a result of the tourism, legal & financial services sectors, shipping and also has seen a significant development in foreign investments over the period of time.
What is A Cyprus Citizenship by Investment Program?
Cyprus aims to increase its Foreign Investments which has helped in the direct growth of its economy. The Government of Cyprus established the Cyprus Citizenship by Investment Program to attract foreign individuals who have a high net worth to come settle & invest in the economy of Cyprus.
Reasons Why You Should Immigrate to Cyprus Through Citizenship by Investment Program?
Though there is an infinite number of places to choose for immigration, Cyprus has its unique set of reasons asking you to Immigrate to Cyprus. Below listed are the reasons, why you should be considering Cyprus Immigration:
- Approval of Citizenship application within three months is one of the biggest perks Cyprus Citizenship by Investment program has to offer. The application will be processed in a Fast-track procedure, enabling investors to immigrate quick.
- Both residency & citizenship application can be applied simultaneously.
- There are no physical residency requirements imposed on the applicant. The only imposed criteria are, he/she should visit once in seven years.
- There are no language requirements needed if you wish to immigrate to Cyprus through Cyprus Citizenship by Investment Program.
- The candidate’s parents could qualify for citizenship if they own a house valued at €500,000 + VAT or an equal amount of share in a property of the person who is applying.
- The applicant will face low tax rates and the right to free trade within the European Union.
- The candidate can live, work & study in Europe without any intervention.
- The candidate/applicant has the right to own a property in a state which is within the European Union.
- Cyprus is considered as one of the safest country in the world with a population figure which is under 5 million.
- Cyprus offers its residents excellent education & a top-class health care system.
- Cyprus is also a perfect holiday destination which is quite impossible to resist.
Eligibilities for Cyprus Citizenship by Investment Program: –
An applicant to qualify for Cyprus Citizenship by Investment Program will have to meet the below-mentioned eligibilities:
- The applicant should have in his possession a valid passport.
- The applicant should have no criminal record on him.
- The applicant’s property should not have been frozen within the EU boundaries.
- The applicant should be a resident before he is being granted Citizenship.
- The applicant should own a permanent residence in Cyprus valued at least €500,000 plus VAT.
Available Investment Options: –
- Real Estate, Land Development or Infrastructure Projects: –
The applicant should invest at least a minimum of €2 million and purchase buildings, development projects or infrastructure projects.
- Creation or Participation in Cypriot Business or Companies: –
The applicant should invest at least €2 million in companies that are operating in the Republic of Cyprus. The companies should have a solid presence and should have the potential capability to employ at least five Cypriot Citizens or European Citizens.
- Investment in Financial Assets of Cypriot Based Companies or Organizations: –
The applicant should invest a minimum of €2 million in the financial assets of Cypriot based companies or organizations and he/she must maintain the assets for a period of three years.
- Combination Investment: –
The applicant can also buy assets which come under a combination of the above options, totaling a minimum of €2 million.
Cyprus could be an ideal destination place for its immigrants taking into consideration the benefits Citizenship by Investment Program has to offer. To know more information about Cyprus Citizenship by Investment Program, feel free to contact our team of experts.