Europe has long established itself as the most sought-after region in terms of high number of immigrants and accounting for over half of the total number of global citizenship applications.
Also, with BREXIT fast approaching, many clients are seeking to secure their settled status in the UK by obtaining EU (Cyprus) citizenship first and arriving in the UK as EU nationals.
The Cypriot immigration policy and legal framework now enable Non-EU applicants to obtain Cypriot citizenship on an expedited basis through investment.
The Cyprus Citizenship by Investment Program allows you to obtain Cypriot citizenship within approximately 6 months through investment. Investors making a minimum investment of €2.0M in real estate situated in Cyprus (or €2.5M in combination of real estate and other investment options), and who satisfy the good standing criteria set by the Cyprus government, receive a Cypriot passport within approximately 6 months. After 3 years the investor can liquidate their investment and simply own a residential property or properties in Cyprus to the value of €500,000. The main advantages of the program are:
- The Cypriot passport is issued within only approximately 6 months of application. Cyprus has been a member of EU since 2004.
- Cyprus does not require applicants to live on the island prior, during or after the application process. An applicant has to visit Cyprus only to provide biometric data before the application is submitted.
- Applicant has to be in possession of 6 months residency permit, which is issued within approximately 5 days of submission of the application.
- Simple and straightforward application process with no interview, no medical or language tests.
- The program is available for the whole family, including spouse, minor children, financially dependent adult children up to the age of 28 and parents of the main applicant.
- Visa free access to travel freely within over 159 countries worldwide, including all EU countries and Canada.
- It gives the right to live, work and study without restriction within the 28 countries of the EU, as well as Switzerland, Norway, Iceland and Liechtenstein.
- The Cyprus Non-domicile individuals can enjoy zero taxation of worldwide dividends, royalty and interest income for a period of 17 years. No tax on proceeds from sale of securities for life.
- The Cypriot corporate tax rate is only 12.5%.
- It is possible to become tax resident in Cyprus by spending 60 days on the island in a tax year, provided certain requirements are met.
- Citizenship is passed to future generations by descent.
- Dual citizenship is permitted.
The above services are provided by our partner firm, Savva & Associates Ltd (S&A). Our Cyprus immigration partners will be happy to provide free consultations and answer any questions that you may have by phone, WhatsApp, or email or meeting in person in London, Cyprus, or another convenient location.
The services include preparation of application, assistance to Cyprus Investment Program applicants with finding the right investment, including investments into residential and commercial property and other eligible (non property related) investment in Cyprus, which in most cases guarantee a return on investment and/or a contract exit within 3-5 years.
Our immigration partners also be happy to welcome you in Cyprus in person, to assist you in further exploring the citizenship program and investment options. They will arrange your itinerary, show you around the island, arrange viewing properties, meetings with property developers and answer any questions you may have.
For further information please contact Jiyin Oh who can refer your query or interest reading this programme to Savva & Associates.