Due to its favourable location – located in the middle of the regions of Europe, the Middle East and North Africa and with access to Eastern Europe, Russia and former Soviet republics – dynamic and robust legislation and low cost of living, international investors are keen on acquiring a European Union Citizenship through Cyprus' Citizenship by Investment Program.
As a Cypriot citizen, investors become citizens of the European Union (EU) automatically, and they are entitled to security and protection by European Union Consulates around the world. Also, as Cypriot passport holders, they have open doors to explore the world and travel freely to 150+ countries without the need to apply for visas, including the UK, Canada, and the Schengen states.
Significant benefits and requirements that you should take into consideration when you start planning your second passport strategy through the Cyprus Citizenship by Investment Program:
* Cyprus offers citizenship in such a swift, secure, simple and straightforward manner.
* Once the applicant submits their application, obtaining the approval takes 6 to 8 months.
* Starting May 15th 2019, applicants now have to pay a total of EUR 150k in donations; this means, that besides the real estate investment, a donation is necessary to qualify for the program.
* Minimum Investment of €2 million in real estate property.
* Starting May 15th, the Investment must be retained for a period of just five years. The property can be resold after.
* To be eligible to apply for the Cyprus Citizenship by Investment Program, all applicants must hold a valid Schengen visa .
* Applicants who had previously been rejected for a Citizenship Program by any EU country will not be eligible to apply for the Cyprus Citizenship by Investment Program.
* EU nationals are entitled to free healthcare across Europe.
* After naturalization, you and your family are entitled to free education at schools and universities in Europe.
* Enjoy dual nationality and keep your existing citizenship.
* One of the lowest taxation rates in Europe with no foreign income tax, inheritance tax and withholding tax on interest earned.
* Trade freely across all 28 EU countries and a market of over 500 million people; this means, millions of opportunities to create new business and partnerships across the continent.
Over the past years, Savory & Partners has accompanied and assisted hundreds of families across the Middle East in securing their second citizenship and passport, not only for Cyprus but also in the European Union and the Caribbean. Book your free consultation today to learn how Savory & Partners can help you secure your future and the future of your family with a second nationality and passport.