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Cyprus Citizenship by Investment: Fast Track to Become Cypriot

Situated in the heart of the Mediterranean Sea; Cyprus is an independent European country, which is globally famous as a popular tourist, business, education and retirement destination. Total land area of 9.251 thousand square kilometres makes it third largest island of Mediterranean after the Italian islands Sardinia and Sicily. Mild winters and year-round sunshine have enabled it to earn the Blue Flag certification by Foundation for Environmental Education (FEE). This accreditation authorises that a beach or marina fulfil the standards of sustainable boating and tourism.

Besides natural beauty, multicultural population, high standard of living, high security and safety with the lowest crime rate have made Cyprus a dream place to live. After observing the growing interest of foreigners to find ways to relocate here permanently, The Cypriot Government launched its first Cyprus citizenship by investment program five years back in May 2013. Within a short period, this program has become the first choice of foreigners (non-EU/EEA citizens), who are seeking to avail rights to live, work and study across the European Union like a native.

What is citizenship by investment?

Economic citizenship option allocates citizenship status to a person and his/her immediate family member upon making a quantifiable investment in the country. To facilitate the maximum number of non-European and high net worth individual across the world, Cypriot government offer multiple investment options to issue Cyprus nationality. Individuals who are interested in obtaining second citizenship can obtain passport after investing the amount of €2.5 million. With an aim to maximise a total number of investments, Government of Cyprus reduced this investment amount to €2 million with the possibility to add parents after an additional payment of €500,000 + VAT in September 2016.

As compared to other economic citizenships, this program is simple and straightforward.  In fact, it’s a fast track to obtain European nationality within a short period of five months.  Following are few quick investment options candidates can utilise to avail Cypriot passport.

Purchase real estate asset or invest in land development/infrastructure project

Principal applicant can invest €2 million to purchase residential/commercial properties or under construction land development infrastructure and real estate projects.

Create, purchase or participate Cypriot Businesses/Company

Interested candidates are welcomed to invest the same amount of €2 million to purchase or create a company in Cyprus. Or they can also spend this money to buy Cyprus based company shares. Legal proof is required for showing the conversion of deposits into business shares. Besides financial investments, such companies must physically exist in Cyprus and hire minimum (5) native citizens of Cyprus.  

Buy Alternative Investment Funds or financial assets of Cypriot

Foreigners are also allowed to spend the same amount of €2.0 million to purchase registered AIF units, bonds and securities in organisations with considerable economic activity, which are issued in the Republic of Cyprus and regulated by the Cyprus Securities and Exchange Commission.

Blend of investments

In addition to these unique investment opportunities, applicants can invest the total amount of €2.0 million in the combination of investment options mentioned above. They can also purchase individual government bonds of up to €500,000.

Conclusion: Fast document processing and no residency requirements have made Cyprus citizenship by investment popular among foreigners across the world.

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