Cyprus Investment Programme (cancelled)

Cyprus Investment Programme (programme cancelled by the Parliament)

Cyprus is a small Mediterranean country with a population of just under 1 million people. The country has emerged as one of the fastest growing country in the European Union. The country’s business-friendly framework such as low tax rates has attracted hundreds of companies from around the globe.

One such business-friendly practice that has attracted many corporations and international citizens is the Cyprus Investment Programme. This is a government program that makes it easy for citizens of other countries to become Cyprus citizens by investing within the country. The program was launched in 2013.

The goal of the government was to attract high-net-worth individuals to invest within the country with the hope that this kind of investment will help the island’s economy and increase employment. It also hoped that welcoming more people will help to improve its diversity.

1 cyprus passport by investment The results of the Cyprus Investment Programme have been largely positive. The government has been able to attract almost €5 billion from investors. This is a significant portion of the country’s GDP, which has grown to almost €25 billion in the past few years. Every year, more than 500 passports are issued to the main applicants. An additional 500 + Cyprus passports are issued to their family members.

Complete the below form if you are interested for the Cyprus Investment Programme. Get a Free Consultation from one of our experts.

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Why Apply for the Cyprus Investment Programme

There are a number of reasons why people consider applying for the Cyprus Investment Programme. Some of these reasons are:

Access to the European Union with a Cyprus Passport

The biggest reason why most people prefer the Cyprus Investment Programme is to gain access to the European Union. In total, the European Union is the second most influential regions in the world. It has a population of more than 500M people and a combined GDP of more than $17 trillion.

By having the Cyprus citizenship, the applicant becomes a full citizen of the country and a European citizen as well. This comes with a number of benefits such as easily doing business and work in the region of Europe. In addition, the passport provides a free to visa travelling around Europe. This applies applicant’s family members as well.

Great infrastructure

As a business person, you want to invest in a country that has put in place excellent infrastructural projects. You want to invest in a country that has modern airports, modern roads, and quality houses. The Cypriot government has invested billions of dollars to ensure that the infrastructure is excellent.

Quality education facilities

Another advantage of being Cypriot citizen is that the country has excellent education facilities. Some of the best-known universities in Cyprus are the University of Nicosia, University of Cyprus, Cyprus International University, and European University Cyprus. For pre-university learning, there are hundreds of English-speaking schools in the country.

Strategic Location

Cyprus is located strategically at the Mediterranean. It has a close proximity to Africa, Asia, and Europe. This makes it an ideal place for anyone with the goal of doing business in the three continents. In fact, most people who get the Cyprus Investment Programme is because of how closely it is located with these places.

Family Citizenship with a Cyprus Investment Programme

When you apply for the Cyprus Investment Programme, it applies to you and your family members. This means that you can bring your family to the country. These family members will be able to travel, work and study within the rest of the European Union without the need for a visa.

Low Tax Rates in Cyprus

As a business manager or founder, you want to set your business at a country that offers low tax rates. The corporate tax rate of Cyprus is 12.5%. This makes it the EU country with the lowest corporate tax rates. It is also a tax haven that has some of the lowest taxes in the world. This has attracted many companies.

Ease of doing business

The Cypriot government has been committed to ensure that it is easy for people to do business in Cyprus. As a result, the country has put in place measures to ensure that this is possible. Today, the country is ranked at position 57, which is better than the EU’s average of above 70.

Safe

While Cyprus is located close to key geopolitical hotspots, it is ranked as one of the safest countries in the world. This is partly because the country does not interfere with the actions of other countries.

Excellent beaches

As an island nation, Cyprus is known for its excellent beaches. In fact, the country’s beaches are some of the cleanest in the world. This has created an excellent night life in the country, which is a major attraction for most people.

Recent Changes to the Cyprus Investment Programme

cyprus citizenship In June 2018, the Committee of Supervision and Control (CSC) made changes on the Cyprus Investment Programme. These changes were meant to improve the system and make it attainable by most people. The goal of the changes to the code of conduct of the Cyprus Investment Programme, was to protect the service providers and their applicants.

The first change to the Cyprus Investment Programme was that all natural and/or legal people who will be providing the support services will need to be registered with the Registry. At Evagoras Anastasiou and Associates LLC, we are among the leading service providers for individuals who want to obtain the Cyprus Investment Programme.

In order to prevent any illegalities, the members our firm are required to record and verify the identity of the clients, to verify the source of the funds, conduct research about the client, and provide the due diligence report to the committee.

How to Apply for Cyprus Investment Programme

cyprus All it takes for a non-Cypriot citizen to apply for a Cyprus passport is to meet a certain set of criteria, which includes specific economic requirements. As stated by the Cyprus Investment Programme, if you meet this set of criteria, you can easily file an application with the Minister of Interior in order to obtain the Cypriot citizenship.

A recent decision made by the Cyprus Ministry of Interior has brought changes to the standard rules. Namely, as of July 31 2018, the applications for the Cyprus Investment Programme must be submitted by legal persons who are registered with the Registry of Service Providers (Registry) of the Cyprus Investment Programme. As a member of this registry, our law firm can assist you with this.

What are the requirements for getting the Cyprus Investment Programme?

1 cyprus passport by investment option In August 2020 some amendments were made on the criteria for the Cyprus Investment Programme and our law firm can guide you on the relevant criteria.

You must have a clean criminal record no older than 6 months.
You must hold a valid Schengen Visa.
You must hold a residence permit in Cyprus for at least 6 months.
You must have privately-owned residence in Cyprus of at least €500,000 +VAT.
You must make an investment of €2,0 million in either real estate, land development, infrastructure, Cypriot companies, and alternative investment funds.
You must make a donation of €100,000 to the Research and Innovation Foundation.
You must make a donation of €100,000 to the Cyprus Land Development Corporation.

What is the Cyprus Investment Programme?

This is a program by the Cypriot government that is intended to attract wealthy foreigners to come and invest in the country. Every year, the country welcomes more than 500 people who have applied for the Cyprus investment programme.

Are family members eligible for Cyprus citizenship using the Cyprus Investment Programme?

Yes. The immediate family members of the applicant are eligible for Cyprus Investment Programme if the applicant make it through.

How much money does one need to invest when applying for the Cyprus Investment Programme?

One needs to invest €2.5 million to be eligible for the program.

Do you lose your other citizenship by getting the Cyprus Investment Programme?

No you don’t. The Cyprus Investment Programme allows you to have dual citizenship.

Can I visit all European Union members if I receive the Cyprus Investment Programme?

Yes. Being a Cypriot Citizen, you and your family members can visit and do business in all members of the European Union. A decision on visiting and doing business in the UK will be known when a deal is made on the terms of Brexit.

What are some of the benefits of the Cyprus Investment Programme?

Some of the advantages of the Cyprus investment programme are: doing business in a tax haven, having a dual citizenship, travelling and doing business throughout the European Union, living close to the best beaches in the world, and taking your kids to the best schools in the world.

What is the duration of getting the Cyprus Investment Programme?

The expected time frame for the examination of any application submitted under the Cyprus investment programme is 6 (six) months.

Summary on Cyprus Investment Programme

1 cyprus passport by investment best

Cyprus Investment Programme attracts more than 500 investors every year.
Cyprus Investment Programme allows you to travel and do business in all countries within the European Union.
Being a Cyprus citizen gives you an opportunity to live in a secure country with excellent beaches.
It is essential that you use a quality company to deal with the process.
The Cyprus Investment Programme enables you to become a Cypriot citizen for life.