Cyprus passport provides great travel opportunities
There are several ways to obtain citizenship of the Republic of Cyprus: investment in real estate, in financial assets or in your own business. The legislative system of the state allows applicants to obtain a passport in an expedited manner.
How to obtain citizenship of Cyprus
To obtain a Cyprus passport, the applicant takes part in the state economy — through financial investments. The total investment should be € 2,500,000. All investment methods are carried out for a period of 3 years.
When studying the investment strategy, the candidate chooses between the following schemes:
purchase of local real estate (from € 500,000) and opening an account with a bank in Cyprus (from € 2,000,000). The account may be in a personal or corporate format. If the account belongs to a Cyprus company, the candidate must have the status of its shareholder;
buying local real estate (from € 500,000) and investing in Cyprus (from € 2,000,000).
To € 2,500,000, a contribution of € 150,000 is added, which goes to charity:
€ 75,000 goes to the Research and Innovation Promotion Fund;
€ 75,000 goes to the Land Development Corporation.
Registration of an investment fund in Cyprus is carried out in three versions:
IF (UCITS): collective or joint investment in transferable securities;
IKPK (SICAV): investment companies that have variable capital and are registered in the LLC format;
AIF (AIF): collective investment in capital, which is formed by investors who plan to make investments on a regular basis.
Benefits of Cypriot Citizenship
Obtaining a Cyprus passport gives non-EU people a number of new opportunities:
the right to reside in any country that is part of the EU without citizenship;
visa-free entry to more than 150 countries;
reliable real estate investments;
low VAT rates and real estate tax exemptions;
the opportunity to obtain dual citizenship.
Buying a property
There are other features of buying property in Cyprus:
the sales contract is transferred to the Department of Land Registration within 60 days after its conclusion;
if the buyer is a citizen of a country that is not a member of the EU, he will need permission from the Council of Ministers;
Foreign citizens can purchase housing on a mortgage. They are available rates of 5.5 — 7% per annum;
the presence of a lawyer as an intermediary between the buyer and seller is required. The specialist guarantees the security and legality of the transaction;
individuals who buy a house, apartment or land in Cyprus can get a Cypriot multivisa or permanent residence on the basis of the Golden Visa program.
A Cypriot passport provides its owner with an alternate aerodrome. You can use it in case of problems in your home country. Investing in Cyprus is a smart investment in a peaceful future.