CITIZENSHIP BY INVESTMENT BLOG

Cyprus Citizenship by Investment

April 2019: What is so attractive about the Cyprus citizenship by immigration program?

Answer: The Citizenship by Investment Program of Cyprus provides foreign nationals with investment options starting from € 2.0 million into local real estate for immediate European citizenship and passport.

The program’s popularity is primarily due to the very short processing times: the application procedure, from start to finish, can be as fast as 90 - 180 days. This makes the Cyprus citizenship program 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. Further, 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 some form of residency requirements.

Cyprus Golden Visa
Cyprus is also an attractive financial centre due to its favorable tax system and strategic location at the crossroads of three continents – Europe, Africa and Asia. The newly introduced “non-domicile” regime results in zero taxation of worldwide dividends and interest income, for 17 years.

The investor may choose from 2 options:

Option #1: Residential Real Estate Investment. This option requires a minimum total investment amount of EUR 2.0 million in residential real estate and must include a permanent personal residence valued at no less than EUR 500,000. The remaining investment amount of EUR 1.5 million must be made in residential real estate, to be held for a minimum of three years. If the personal residence is valued at EUR 2.0 million or more, then no additional investment is required.

Option #2: Other Investments. This option requires a minimum total investment of EUR 2,5 million, of which EUR 500,000 must be for a permanent personal residence. The remaining investment amount of EUR 2,0 million can be made using a mix of the following, held for at least three years:
a) Residential Real Estate (in addition to the personal residence),
b) Commercial Real Estate,
c) Undeveloped Land for which development plans have been prepared, or
d) Government Securities (up to a maximum value of EUR 500,000) registered and issued in the Republic of Cyprus.

Permanent residency in Cyprus can be obtained through an investment in real estate with minimum market value of EUR 300,000. However, residency does not automatically result in EU citizenship/passport. As such, residency does not offer the freedom of living and working in any EU member country – only citizenship status affords this right.

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Because immigration by investment programs can change over time please contact us to speak with an advisor or to receive a preliminary quotation. The information provided in this blog post is intended for educational and informational purposes only. It should not be construed as legal or financial advice.

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