Get to know the real information about immigrant investors program in Cyprus.
by Hudson Mckenzie Lawyers and Solicitors who understand youHigh 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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Created on Apr 22nd 2019 04:30. Viewed 303 times.