The Cyprus Citizenship by investment program offers the most simple and efficient means of obtaining EU citizenship, it is the only direct EU citizenship program as it has absolutely no residency requirement and passports are issued in just three months. Investors and their families can obtain full EU rights, including the ability to live and work in any EU country practically immediately.
Last year Russian oligarch Oleg Deripaska became the latest high-profile tycoon to acquire a Cypriot passport, according to the Guardian, which allows him visa-free access to the EU.
Deripaska, an aluminium magnate with connections to Donald Trump’s former campaign manager Paul Manafort, became the latest member of the Russian elite to obtain a Cypriot passport.
Until September 2016, foreign investors had to have at least €5million ($6,194,185.58) in domestic assets, including real estate, firms and government bonds.
However, Cypriot officials then decided to lower the threshold to €2million ($2,473,544.90).
Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investment. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities.
- Stability and security
- Healthcare and education
- Taxation & Succession planning
- Investment opportunities
- Enhanced financial freedom
Cyprus citizenship by investment program may be obtained through a secure property investment, the financial criteria is as follows:
Euro 2 Million investment in the residential real estate (the investment can be in a single property or portfolio)
Benefits of the program
- Passports issued within three months
- No physical residency requirement
- Passports issued to the investor, their spouse and dependent children up to 28, provided they are in full-time education
- Cyprus allows dual citizenship
- All nationalities eligible
- No language requirement, medical test or interview
- Exit strategy after 5 years
- Citizenship is passed on by descent, thus offering a legacy to future generations
- No tax consequences, unless you opt to become tax resident in Cyprus
- Additional requirement: EUR 150,000 in form of a donation to the government
Benefits of Cyprus citizenship
- Unrestricted right to live, work, travel and study anywhere in the European Union
- Visa-free travel to 158 countries
- Free trade within EU, business access to 500 million EU citizens
- Cyprus has no inheritance tax, has a highly favourable corporate tax structure and a comprehensive double tax treaty network
- Cyprus offers a great place to visit/ live, it enjoys a strategic geographical position, offers excellent worldwide connections, has excellent infrastructure, a pleasant climate and is highly stable
- Establishment and free movement of services and goods
- Cyprus citizens have the right to attend schools/ universities within any EU country for free or with reduced tuition rates, as applicable
- Cyprus citizens can access the established first-class EU healthcare systems
Life and Business
Cyprus offers a high standard of living in a clean, safe and healthy environment. It offers first-class healthcare and education, has an ideal Mediterranean climate, fresh cuisine, beautiful scenery, clean beaches and hospitable people. English is widely spoken making integration very simple.
Cyprus is firmly established as a reputable international commerce centre, the ideal bridge between East and west. It offers a tax efficient gateway for channelling foreign investments anywhere in the world. The Cyprus tax system is in full compliance with Eu and OECD requirements.
It provides a unique combination of favourable participation exemption provisions on income emanating from international activities, applies a wide ever-increasing network of double tax treaties and zero withholding taxes on any type of payments made anywhere in the world. Corporation tax is just 12.5%. These benefits are just a few reasons why so many multinational firms choose Cyprus as their Mediterranean/ European operations base.