As it’s a favorable location and is also conveniently located, it is become one of the most commonly chosen investment destinations amongst investors. In fact, with a Cyprus permanent residence, you automatically become a citizen of the Eu as well, and are entitled to security and protection from them. Apart from the security offered, you have the liberty of flying to over 150 countries without a visa.
Significant Benefits and Requirements
The program is swift, secure, straightforward, and simple. Other perks associated are discussed below.
Approval takes only six to eight months.
- Apart from the investment made in real estate, an additional Euro 150,000 has to be made as donation in order to qualify for the program.
- For real estate property a minimum investment of Euro 2 million is required.
- The investment should be kept on holding for five years, after which the property can be sold.
- To be eligible for the program, applicants need to hold a Schengen visa.
- If an applicant has been rejected before for the citizenship by investment program by an EU country, they won’t be eligible to apply for the Cyprus program.
- EU nationals are offered free healthcare across Europe.
- Post nationalization, both you and your family are entitled to free education across Europe.
- Keep your existing citizenship and enjoy dual nationality.
- One of the lowest taxation rates throughout Europe with no tax on any interest earned.
- Opens windows for new business opportunities across 28 EU
- countries, where you can trade for free.
Apart from offering citizens a beautiful location with pleasant weather, Cyprus is also known to be one of the safest and stable nations. Launched initially to attract potential investors, it is now one of the most favorable destination of several investors.
Cyprus passport holders automatically gain access to the EU, with full rights to work, reside and also own property. They have the strongest passport, allowing visa-free traveling to 163+ countries. That said, since they aren’t a part of the Schengen area, residents will have to depend on their existing passport to gain access to rest of Europe.
Criteria for Eligibility
Cyprus has a few criterions to be eligible to participate in the program. It includes the applicant being over 18 years of age, having no criminal record, and having no frozen assets in the EU. Apart from all this, applicants must hold a Schengen visa, and adult members need to be present in Cyprus to submit their biometrics for initial residency permit. This must be on holding for about five months.
Source a company like PassPro for further details.