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Cyprus Citizenship by Investment

Cyprus Citizenship by Investment

If you have plans of living in Cyprus long term, various programs would validate your stay in the country. One of the quickest programs is the Cyprus Golden Visa program. The Cyprus Golden Visa program is the fastest to become a citizen in any country in Europe.

You can become a citizen of Cyprus in 6 months, using the Golden Visa program. There are two types of Golden Visa programs Cyprus offers: the offer for permanent residency and that of citizenship.

If you desire to get the offer for permanent residency, you have to acquire real estate assets worth at least €300,000. On the other hand, if you want to gun for citizenship, you would have to invest €2 million in real estate assets.

In this article, I would reveal everything you need to know about Cyprus citizenship by investment and how the Cyprus Golden Visa program makes the application process an easy one.

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Requirements for Cyprus Citizenship by Investment

There is a list of requirements you would have to meet, to be considered eligible for Cyprus citizenship by investment. Some of them include:

  • You must have no record of past criminal activities.
  • You are to acquire real estate properties worth €2 million and above. You can purchase it as a single property or various properties whose total worth is up to €2 million.
  • If you are relocating with your parents or spouse’s parents; then, you must invest another €500,000 into asset purchases.
  • You have to make a €100,000 contribution to the Cypriot Government Research and Development Fund. Also, you are to donate another €100,000 to the Cypriot Land Development Organization.
  • You have to engage in investments before applying for the Cyprus Golden Visa.
  • You are to have all the needed documents required for the application process; which includes: police records, property purchase documents, and other required documents.
  • You would have to transfer the money required for the investment from abroad.

Keep in mind that you don’t need to undergo any language mastery test. Also, you don’t have any commitment to live in Cyprus for a stipulated period. Fulfilling the above-mentioned requirements would earn you the right to be a citizen.

Benefits of Cyprus Citizenship by Investment

Being a citizen of Cyprus comes with many benefits. You enjoy privileges that even Permanent don’t enjoy if you become a citizen. Here are a few benefits of Cyprus citizenship by investment:

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  • You can live and study in any region within the European Union.
  • Your partner and children the age of 18 years would be made citizens too. And this citizenship can be passed down to unborcitize
  • You don’t need to undergo a proficiency test or go through several interviews to be eligible for citizenship.
  • You are not obliged to live in Cyprus for a stipulated time before you can be eligible for citizenship. However, you need to be a permanent residence holder within 6 months of your application.
  • You can lease out your acquired assets.
  • Cyprus recognizes dual citizenship; so, you can still retain your prior citizenship, while being a citizen of Cyprus.

Cyprus Golden Visa Application Process

This is a step-by-step guide to how to apply for the Cyprus Golden Visa:

  • To begin with, you have to apply for Cyprus citizenship at the Ministry of Interior. This should be after you are through with your investment process. You can apply yourself or use an attorney to make the process less tedious.
  • The Ministry of Interior and the Ministry of Finance would look into your application and would work together to reach a deserved outcome.
  • Furthermore, your application would be sent to the council of ministers for them to deliberate on.
  • You would be granted a six-month visa. With the visa, you can choose to remain in the country or travel in and out, while the application is completed.
  • As soon as your application is approved, you will get the naturalization certificate. You can apply for a Cypriot passport and ID card at the local office where you are relocating to.

Requirements for Cyprus Residency by Investment

If you want to apply for Cyprus residency by investment, here are the required steps:

  • You must have no criminal records.
  • You have to acquire real estate worth €300,000.
  • You must show proof that you have at least €30,000 annually for yourself and €5000 for each of your dependents.
  • You must pay €30,000 to a bank in Cyprus. The money will remain in the bank for three years.

Benefits of Cyprus Residency by Investment

There are numerous benefits you get to have applying for the Cyprus residency by Investment. Some of them include:

  • Your Permanent residence card is legal throughout your lifetime.
  • You can travel with your family to the different regions of the European Union.
  • You don’t have to situate in Cyprus before you can renew your Residence permit every two years. You can visit at any time to have it done.
  • Also, you can get a Cyprus passport, but this would be after 7 years of consistently living in the country.

Documents Required for Cyprus Golden Visa

There are lists of documents you are to submit before your application for the Cyprus Golden Visa can be seen as eligible. They include:

  • You are to present a passport-sized picture.
  • You are to show your police record, showing evidence that you have no past criminal record.
  • You have to show proof of the availability and ownership of the funds.
  • You have to provide Civil documents, like your marriage certificate and birth certificate. Though this might be optional in some cases.
  • You are to show evidence of investment, purchase of the assets, contributions, and other necessary steps.
  • You are to provide your CV, displaying evidence of your academic and professional credentials.

Keep in mind that the documents you are to submit must be in Greek or English. If you are not proficient in the two above-mentioned languages, you might have to seek the help of a translator, to help you with the process.

Final Thought

If you have plans of settling down in Cyprus as a Permanent residency holder or a citizen using the Cyprus Golden Visa; then this article is for you. We made a comprehensive rundown of all you need to know about Cyprus Citizenship by Investment.

 

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Kells

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