Cyprus is currently one of the very few countries within the European Union which by law offer directly the Cypriot and subsequently the European citizenship and passport in a short period of time (2-3 months). The Cyprus naturalization by investment scheme is considered the most straightforward route to becoming a European Citizen. In addition, Cyprus PR permit is also processed within 2 to 6 months. PR is for unlimited period of time without any renewal requirements.
Cyprus Permanent Residency and Citizenship offers the following benefits:
- Full EU membership, with the right to live, work and travel in the EU (including the UK) Visa free access to 160 countries
- Quick processing time, 4-6 months to citizenship
- No language requirement
- No interview requirement
- No physical presence or residence requirement before, during, or after the application
- Strategic location enables easy access to Europe, Africa, and Asia
- Excellent healthcare system and advanced infrastructure and high standards of International Schooling and Universities.
- No requirement to live permanently in Cyprus
- Free movement, residency and work within the EU
Cyprus is one of the most popular European destinations for non-EU citizens who wish to become European citizens. Over the last few years, Cyprus has attracted many third world country nationals from around the globe who applied and successfully obtained Cyprus Permanent Residency and Citizenship as well.
INVESTMENT IN REAL ESTATE, LAND DEVELOPMENT AND INFRASTRUCTURE PROJECTS:
The applicant must have made an investment of at least 2.5 million Euros for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, development is the tourism sector or other infrastructure projects). We at VISA VERTEX Law Associates provides legal advise and assist in purchasing right property through registered Legal Cyprus Authorities and assist in due diligence on behalf of investor.
Option 1: An investment, of €2 million in residential real estate in Cyprus. The investment in residential real estate must be retained for a minimum period of 3 years. At the end of 3-year period the investment can be reduced to a €500,000 residential property which should be held indefinitely. The applicant can make multiple property purchases, so long as the total value of €2 million is retained for 3 years, and as the total value of the residential property owned indefinitely in Cyprus remain equal to or above €500,000.
Option 2: A 3-year investment of €2million (combination of real estate and/or investments) in one or more of the following:
1-Interest bearing Cypriot government bonds, provided the investment does not exceed €500,000.
2-An investment, of €2 million in “eligible real estate” situated in Cyprus, namely:
- Land, provided there is a development plan in place
3-Creation, acquisition or participation in a Cypriot company or business where the applicant is a majority shareholder, with activities in Cyprus, and employing 5 Cypriot or EU nationals, who have been resident in Cyprus for a duration of 5 years prior to the filing of the citizenship application.
4-The alternative Investment Fund (AIF) or financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec), with activities in Cyprus.
5-A €500,000 investment in residential property, which must be held indefinitely.