GOLDEN VISA CYPRUS – CITIZENSHIP
Cyprus offers two golden visa programs through real estate investment. One for permanent residency and one for citizenship. The two Cypriot immigration investment schemes are fast and efficient at granting a residency permit and second passport. Cyprus is a full member of the European Union and English is widely spoken on the island.
CITIZENSHIP BY INVESTMENT CYPRUS
Cyprus offers the quickest, most assured route to citizenship of a European country through the Cypriot citizenship by investment programme. An investment of €2.0 million in real estate is required, plus a donation of €75,000 to the Governments Research and Development fund and €75,000 to the Land Development Organisation. Cyprus is unique in its offering of citizenship within just 6 months of such an investment. This grants a Cypriot passport and citizenship of an EU country, allowing the freedom to work, travel, study and live anywhere within the EU including countries such as Germany, France and the UK. The investment can be reduced down after 5 years to just €500,000.
The main attraction for high net worth individuals is the rapid citizenship on offer for qualifying real estate investments. Read more on the Cyprus Citizenship by Investment Program. Applicants are required to have a clear criminal record. There is no language requirement, medical test or interview for citizenship applicants.
PERMANENT RESIDENCY CYPRUS
Applicants can secure permanent residency in Cyprus through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires investment of just €300,000 into property to gain the Cyprus residency permit.The residency visa is granted within two months and covers the whole family. It includes parents of both the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse.
The permanent residency programme offers ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years. The investment may be made by a company for which the main applicant and spouse are beneficial owners. The investment can be in to a maximum of two properties provided they reach the €300,000 permanent residency limit. The properties purchased must be brand new.
Cyprus has a very favourable tax regime for individuals and companies residing there. Over 80% of the country speaks English and there are excellent education facilities including several UK universities with campuses on the island. Cyprus has the lowest crime rate in Europe and is the 5th safest country in the world. There is a high standard of educational institutions and healthcare facilities. Cyprus is strategically located at the crossroads of three continents, Europe, Asia and Africa. Cyprus is set to join the EU Schengen zone soon. Property acquired is freehold, there is a low property tax and there is reduced VAT on property of just 5% (subject to conditions).