Cyprus Passport by Investment

Cyprus Passport by InvestmentCyprus Passport By Investment

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 citizenship by investment. 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 investmentThe results of the Cyprus passport by investment 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 Cyprus passports are issued to the main applicants. An additional 500 + Cyprus citizenship investment passports are issued to their family members.

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

Why Apply for a Cyprus Passport By Investment

There are a number of reasons why people consider applying for the Cyprus passport by investment. Some of these reasons are:

Access to the European Union with a Cyprus Passport

The biggest reason why most people prefer the Cypriot citizenship by investment program 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 Cypriot passport provides a free to visa travelling around Europe. This applies applicant’s family members as well.

Powerful Passport

Passports are not equal. A passport for an African country is not equal with that of countries like the United States. The passport index provides a ranking of all the world’s passports. As a result, the Cyprus passport is one of the most powerful passports in the world. The passport is ranked as the eighth in the world. With the passport, you can travel visa free to 120 countries.

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 why many people are opting for Cyprus passport 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 Cypriot citizenship by investment is because of how closely it is located with these places.

Family Citizenship with a Cyprus Passport by Investment

When you apply for the Cyprus passport by investment, 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 Cyprus Passport by Investment

cyprus citizenshipIn June 2018, the Committee of Supervision and Control (CSC) made changes on the Cypriot investment passport. 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 passport by investment, was to protect the service providers and their applicants.

The first change to the Cyprus investment passport 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 passport by investment.

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 Passport By Investment

cyprusAll 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 passport?

1 cyprus passport by investment optionIn May 2019 some amendments were made on the criteria for the Cyprus passport by investment and our law firm can guide you on the relevant criteria.

  • You must have a clean criminal record.
  • 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 +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 €75,000 to the Research and Innovation Foundation.
  • You must make a donation of €75,000 to the Cyprus Land Development Corporation.

 

What is the citizenship by investment?

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 passport.

Are family members eligible for Cyprus citizenship using the Citizenship by investment?

Yes. The immediate family members of the applicant are eligible for Cypriot citizenship if the applicant make it through.

How much money does one need to invest when applying for the Cyprus citizenship by investment?

One needs to invest €2 million or $2.3 million to be eligible for the program. Alternatively, you can invest about €300k in the country to get a permanent residence.

Do you lose your other citizenship by getting the Cypriot citizenship?

No you don’t. The Cyprus investment passport allows you to have dual citizenship.

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

Yes. With the passport, 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 passport by investment?

Some of the advantages of the Cyprus investment passport 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 investment passport?

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

Summary on Cyprus Investment Passport

  1. 1 cyprus passport by investment bestA Cypriot passport is one of the most powerful in the world.
  2. Cyprus’s citizenship by investment attracts more than 500 investors every year.
  3. Cyprus citizenship by investment allows you to travel and do business in all countries within
  4. Being a Cyprus citizen gives you an opportunity to live in a secure country with excellent beaches.
  5. It is essential that you use a quality Cyprus investment company to deal with the process.
  6. The passport by investment enables you to become a Cypriot citizen for life.

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

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