Articles

Get to know the real information about immigrant investors program in Cyprus.

by Hudson Mckenzie Lawyers and Solicitors who understand you

High net worth people wanting to move may do so by choosing the immigrant investors programme in Cyprus. To become qualified for this programme, an applicant must need to make an investment of at least of €2 million in one of the readied options, including €500,000 in residential property to be held for life, as well as content the best standing criteria.

Benefits of choosing Cyprus Investment Programme

There are several benefits of accepting a Cyprus Investment Programme

·         Defense by the diplomatic or consular authorities

·         Ability to vote and contest for Parliament elections

·         Visa-free travel to more than 171 countries including Europe and Canada

·         Citizenship can be shifted to future generations by descent

·         No need to reject the previous nationality as dual citizenship is permitted

·         Cyprus Investment Programme can be received within 6 months

·         Cyprus is a common law jurisdiction

·         Cyprus Residence Permit is given within 5 days from the application for residency

The immigrant investor's program in Cyprus is available to investors agreeable to the "Scheme for Naturalisation of Investors in Cyprus by Exception" on the basis of Section 111A (2) of the Civil Registry Laws of 2002-2013, on the basis of a Council of Ministers decision dated 19th March 2014.  In a feature of this law, the Cyprus Council of Ministers may permit citizenship by naturalization to foreign business persons. In addition, the Cyprus Investment Programme law enables for the yielding of the Cypriot citizenship by investment to the spouse as well as financially dependent adult children and parents of the investor. Alterations to the law were done in September 2016 that allows for the addition of parents in the same application, given an extra investment in real estate, is done.

Eligibility for Immigrant Investors Program in Cyprus

·         The Investor should need to have a clear criminal record from his nation of origin and the country of residence (if it varies).

·         The Investor’s name must not be involved in the list of individuals whose property is ordered to be sealed.

·         The Investor must be of age 18 or over.

·         One visit is needed to get biometrics and obtain PR Permit

·         The Investor may include the spouse and children, as well as his/her parents under a single citizenship application. Children include minors up to the age of 18  and children with age between 18-27 if they are financially reliant on the primary applicant. An investors' child with simple physical or mental disability that makes him or her incapable to work is also taken as financially dependent. Parents may also be included in the same application, given an additional €500,000 investment in real estate is done. 

·         The Investor must have a private residence in the Republic of Cyprus, the buying cost of which must be above of the amount of €500.000 plus VAT and must be paid in full. It is to be conisdered that members of the same family, which smear distinctly as investors, can jointly obtain a residence, given that the total value of this home property shelters the amount of €500,000 per applicant.


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About Hudson Mckenzie Advanced   Lawyers and Solicitors who understand you

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Created on Apr 22nd 2019 04:30. Viewed 203 times.

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