Cyprus Investment program

by XIPHIAS IMMIGRATION migration executive

Cyprus is the 3^rd largest island in the Mediterranean Sea and is known for its lavish beach resort. It is one of the best getaways in Europe. Cyprus is easily accessible to Europe, Asia and Africa and is centrally located to all these three continents. The country, with its ever growing economy has a lot of opportunities and has further prospects for prosperity and economic growth. Cyprus provides modern European style of living. Cyprus follows free-market system and thrives on service based economy. The transactions in the country are all transparent thus giving confidence to both local and international businessmen to invest and grow. Cyprus invites foreign direct investments into the country through their CYPRUS Investment immigration program.

Cyprus through its immigration programs offers two pathways to relocate to Cyprus-

i. Cyprus Permanent Residency Program

ii. Cyprus Citizenship by Investment program

Cyprus is one of the few nations in Europe offering citizenship. The main purpose behind Cyprus Investment Immigration program is to attract direct funding from foreign nationals. Cyprus follows effective transparent regulatory legal framework, thus giving confidence to both domestic and international businesses to invest in Cyprus to benefiting each other.

Cyprus Citizenship by Investment Program –

Anybody who is a legal citizen of any country can apply for Cyprus citizenship program. This program doesn’t have any residency requirements. For the process to complete, it takes close to 9 to 12 months.

Eligibility Criteria –

i. The investor should invest in the real estate of the country a minimum of Euro 2.2 million to 2.7 million
(Please note – the investor can buy multiple properties Cyprus. But the least value of the property cannot go lower than €500,000)

ii. Investments should be held by the investor for a period of 5 years’ time

iii. The investor needs to make a donation of €100,000 to research and innovation foundation

iv. The investor needs to make a donation of another €100,000 to Cyprus Land Development Corporation

v. The investor should hold a 6months PR permit in Cyprus, before applying for citizenship in the country

vi. Investor’s spouse and children will get CYPRUS citizenship

Benefits of Cyprus Citizenship –

i. There is no tax on inheritance in Cyprus

ii. It does not require the investor nor his family to live in the country at any given point of time

iii. The country provides access to health care

iv. Modern European style of living

v. The holder of Cyprus Citizenship, obtains Cyprus passport with help of which the investor can travel to more than 160 countries visa free.

vi. The program does not require the investor to undergo any language ability test

Cyprus Permanent Residency Program –

As per the new Cyprus Permanent Residency Program, investors investing through this program will obtain CYPRUS residency in 6 to 9 months’ time.

The Eligibility Criteria –

i. Investor will be depositing €30,000 into Cyprus bank account. This deposit should be a bank transfer from outside of Cyprus.

ii. The Investor needs to provide proof that his annual income is €30,000. This income can include salaries from employment or pensions or dividends or shares or fixed deposits or rents

iii. Invest in the real estate – a minimum of €300,000

iv. The Cyprus PR holders should visit Cyprus once every two years

v. The immigrants on PR cannot take up employment in Cyprus

vi. Applicant will have to submit a proof of document about he having a clean background

Benefits of Cyprus Investment Programs –

i. Dependent children and spouse of the applicant can also get permanent residency status

ii. Staying in CYPRUS will fetch the investor eligibility for citizenship of the country

iii. Cyprus has provided one of the highest approvals in all of European Investment Immigration programs

iv. CYPRUS PR is for lifetime and there is no need to apply for renewal of the same.

v. Cyprus doesnot charge taxes on Inheritance,

vi. Provides high level professional service industry

It is important to work with the right immigration firm who are recognized as the international investment experts to ensure safe and secure investment in CYPRUS. Such immigration firm will need to provide the right guidance to the investor so as to ensure the investor achieves his goal he set out for.