The Cyprus Citizenship Program
Cyprus offers a fast track option to obtain citizenship and a passport with simplified and efficient procedures. On May the 24th 2013 pursuan to subsection (2) of section 111A of the Civil Registry Laws of 2002-2013, the Cyprus Government has enforced favourable immigration policies, further fostering a way of obtaining Cyprus Citizenship via direct investments in Real Estate.
Cyprus Citizenship vs Other Programs
The Cyprus Citizenship program give the right of free movement within 28 countries which are part of the EU. One of the most visible advantages for citizens who have an urgent need to move freely from country to country without any restrictions. As noted in the Article 21 (1) of the Treaty of the Functioning of the EU it stipulates that every EU citizen has the right to move and reside freely within the territory of the European countries, subject to limitations and conditions laid down in the Treaties and by the measures adopted to give them effect. It became applicable for all EU countries on 30th April 2006.
- No Need to Physically Reside in Cyprus
- No Need to Abandon Current Nationality
- No Language Requirements
- No Interviews During the Process
- No Tax Implications
- No Donation Required to Local Government
- Only One Visit to Provide Biometric Data
Cyprus Citizenship’s Major Benefits
- Global Mobility
- Security for the whole family
- Access to an advanced European Healthcare
- Free Access to Internationally Recognised Educational System
- Favourable Taxation System (No inheritance tax, favourable corporate tax, extensive double tax treaties with many countries)
- European Status
- Right to Vote or to participate as candidate in European elections.
Why Choose Cyprus
The island of Cyprus offers unique advantages to foreigners who wish to utilize Cyprus as a base for conducting global business activities or even reside with their families. Its competitive advantages are a great result of a strong combination which derive mainly from its excellent geographical location, advanced business and network facilities, tax system, Internationally renowned educational system and a modern infrastructure that provides high quality of life to its residents.
- Fast track application procedures
- No physical residency required
- Dependents qualify (including children up to 28)
- Dual citizenship allowed
- All nationalities eligible
- No language requirements or interviews
- No medical exams needed
- Future generations obtain passport through “derivation” of
- No tax complications
- Passport granted via direct investment to FREEHOLD properties
- with excellent rental yield
- Properties may be sold in 3 years or passed to next generation
- with no inheritance tax
Benefits of Travelling in Europe
A Cypriot passport make travel effortless in the European Union and much easier for those waiting to travel wider afield. Holders of a passport issued in an EU country are entitled to enter, reside, study or work in any country within the European Economic Area (that is EU countries plus Iceland, Liechtenstein and Norway) as well as Switzerland – without the need for a visa.
- Residence permit in Cyprus: The applicant prior to his/her naturalization as Cypriot citizen must hold a residence permit in Cyprus.
- Residence in the republic of Cyprus: In all cases, the applicant must possess a permanent privately owned residence in the republic of Cyprus, the purchase price of which must be at least €500,000 + vat.
- Provide valid copy of passport.
- Provide clean criminal record from the country of origin and country of residence.
- Provide source of funds.
Additionally, it is noted that if the applicant has invested in housing unit/ units on the basis of the aforementioned criterion A1 the purchase.
*Conditions may change, please inquire for more information.
One of the main Criteria Investor must inspect and reserve the real estate investment preferences through visit to Cyprus or via correspondence.
Investor must sign property investment purchase agreement and submit them to the Cyprus Land and Surveys Department.
Investor opens bank account in Cyprus, sign necessary bank documentation, transfer funds from abroad and receive an official payment receipt which is required for the application. In case of rejection the balance will be fully refundable.
Investor must collect and finalize all required documents towards Cyprus naturalization. Required documents are necessary in Greek or English language, verified and signed by the notary officer at Ministry of Affairs of country of origin and also Cyprus embassy.
Citizenship application submitted to Government together with the property purchase agreement and all required documents, at the Ministry of Interior.
Investor arranges a payment of submission invoice fee of €2,000 per adult applicant.
Upon approval of the Citizenship application the Minister issues a confirmation of Submission of Application for Naturalization by Exception”.
Investor must visit Cyprus to provide biometric data and apply for an Immigration Permit at the Migration Department. (This can be done via Investors local Cyprus Embassy) The Immigration Permit (card) is issue.
Permanent Residency Permit Card is issued while investor is waiting for his passport. Passport is issued in total 6 months after P.R Card is issue.
When the Council of Ministers approves the Citizenship investor must visit Cyprus for one day to swear the oaths of allegiance and receive their Cypriot Citizenship Certificates and collect their passport and European ID cards.
A full money-back guarantee is offered by Giovani Group should the application be declined. Additionally, funds are deposited in a secure account that requires the signature of the independent appointed lawyer in order to be released.