The Cyprus EU Citizenship programme is one of the fastest and simplest routes to EU Citizenship, with passports issued in just three months. No donation is required to complete the process, which works purely on the basis of a secure financial property investment.
Cyprus has been a full EU member state since 2004 and joined the EU Monetary Union in 2008. In 2014, legislation was introduced allowing foreign investors to become Cypriot (EU) citizens, acquiring a Cypriot passport through naturalisation. A Cypriot passport holder is an EU passport holder, and a passport holder of any EU country and is also considered an EU citizen. EU citizens can work, reside, study and travel within the EU, as well as Iceland, Liechtenstein, Switzerland and Norway.
Cyprus sits at the meeting point of three continents: Europe, Africa and Asia, which makes it perfectly positioned for travel and business. It has a modern, free-market, service based economy and has been structured so as to offer impressive tax advantages. British education, a world class healthcare system, no inheritance tax and an emerging energy economy make Cyprus an appealing location for dual citizenship.
Becoming an EU citizen opens up the right to live and work anywhere in the EU. Visa-free travel is available to 168 countries and free trade rules within the EU provide access to a potential business market of 500 million EU citizens. There are numerous advantages to obtaining this access via the Cyprus Citizenship programme.
Investors of any nationality can apply for EU Cyprus Citizenship. No donation is required only the investment deposits, information and documentation mentioned below.
In addition to an investor, a spouse, minor children and unmarried adult children up to the age of 28 who are studying outside of Cyprus can also benefit from citizenship. The parents of the investor can also become Cyprus Citizens.
Once citizenship is obtained it is valid forever.
EU Cyprus Citizenship can be obtained via an investment in Cyprus resident real estate of at least €2 million. This can be invested in a single property or can be made via a portfolio of properties.
If any property has been purchased in the three years prior to applying for citizenship this can be included as part of the €2 million investment amount.
Where the parents of the investor wish to be included in the application, they only need to purchase a permanent residence property that is worth at least €500,000. This can either be purchased separately or pooled with the rest of the main investment.
In addition to the property purchase, a number of documents must be supplied by an investor, including:
Taxes apply to the property purchase:
VAT standard rate is 19%. However, this may be reduced to 5% on the first property purchase (first 200m2).
Additional taxes and duties apply (approximately €4,000).
The process of applying for EU Cyprus Citizenship has been made very simple and is designed to be completed quickly. For most investor applicants it takes just three months to arrange a passport.
Step 1 – choose and purchase a real estate investment. This can be arranged through a visit to Cyprus or via correspondence. Once the property purchase agreement is signed, the funds are held in a secure account and a receipt issued – this receipt is essential for the citizenship application.
Step 2 – create citizenship application. This involves putting together the documents mentioned above. Note that these must be officially translated into either Greek or English. They also need to be officially certified or stamped. In a country that has signed the Hague Convention of 1961 these documents can be certified with apostille. Otherwise they must be stamped by the Ministry of Foreign Affairs and relevant Cyprus Embassy.
Step 3 – a pre-clearance check is carried out by legal advisors.
Step 4 – submission of documents. The citizenship application, along with the property purchase agreement, receipt of funds and fees payable are all submitted to the Ministry of the Interior.
Step 5 – becoming a Cypriot Citizen. The application will be ratified by the Council of Ministers and citizenship is official. Within three months of the grant of citizenship a certificate of citizenship must be signed by the investor, either in front of a Registrar of a Cypriot Court or a Consular at any Cypriot Consulate abroad. After this passports can be issued and applications for children to be naturalised can begin.
Children – dependent or non-dependent
Children can apply to be naturalised once a parent investor has obtained EU Cypriot citizenship.
Dependant children. For minor children this normally takes around three weeks. Minor children can collect their documents from Cyprus at any time.
Non-dependent children. Applications for naturalisation of adult children take up to two months and passport and identity card must be collected from Cyprus within three months. Adult child naturalisation is subject to fees, including a submission fee of €2,000 and approval fee of €5,000.
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