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Cyprus Citizenship By Investment
Cyprus Citizenship by Investmentis one of the few pathways in Europe that offers EU citizenship by making certain investment and donation. This particular program is particularly designed for the high net-worth individuals who can invest minimum EUR 2.1 Million (INR 18.2 Crore) in govt. approved residential or commercial properties. It is also considered as one of the cheapest way to attain EU passport considering your get your investment back after 5 years from the citizenship.
Since its inception in 2016, Cyprus investment programme has issued a total of 3300 passports.
Since its inception in 2016, Cyprus investment programme has issued a total of 3300 passports.
- BENEFITS
Cyprus investment visa
program offers equitable and attractive benefits for all the selected applicants and their families:
- Cyprus Passport will empower you freedom of movement throughout the European Union and have the right to live, work and study in any EU Member Country.
- You can have visa-free travel to more than 172 countries including all the EU member states.
- Granted European Health Insurance Card that provides free health care services in the state funded hospitals.
- Avail high-quality education system in Cyprus with moderate Tuition fees for the children in more than 1,300 institutions and educational programs.
- Cyprus does not impose tax on non-domiciled residents which means you can avoid the tax, if you maintain residence in another country. Further, there is no tax on dividends or inheritance.
- One of the best feature is, after maintaining your investment in real estate for 5 years, you can sell your property.
- This is one of the fastest citizenship by investment program which can fetch you approved EU Passport within just 6 months.
- Cyprus provides major opportunities in the industries such as shipping, tourism, financial services, and foreign investment.
- Under this pathway, there is no language tests or requirements for Cyprus business visa.
- Cyprus has one of the lowest crime rates in Europe which makes the country safer haven for family.
Investment options and eligibility for Cyprus Citizenship by Investment
You can attain Cyprus citizenship upon meeting certain Cyprus citizenship by investment requirements:
Must make mandatory donations:
- EUR 75,000 (INR 65 Lac) to Research and Innovation Foundation of Cyprus
- EUR 75,000 (INR 65 Lac) to Cyprus Land Development Corporation
Make any one of the below investment option:
- Minimum Investment of EUR 2,000,000 (INR 17.4 Crore) in residential or commercial properties to be maintained for 5 years. (Can purchase multiple properties with the investment value), Or
- Minimum investment of EUR 2,500,000 (INR 21.7 Crore) for 5 years in any one or a combination of below:
- Real estate including residential, commercial, infrastructure and land
- Creation, operation or acquisition of a Cyprus company
- Investments in shipping investment sectors
- Investment in Alternative Investment Funds or financial assets of Cypriot companies licensed by CySec
- Must have clean record of character and background
Pro Tip: Except donations, all the investments in the properties and acquired assets can be sold after 5 years of citizenship. However, you need to hold real estate to minimum value of EUR 500,000 (INR 4.34 Crore) as your residence to maintain Cyprus Citizenship.
Step-by-step Application Process for Cyprus Citizenship Visa
Stage 1 – Select investment options
- Must choose from the aforementioned investment option to begin with the Cyprus citizenship by investment 2020 application
Stage 2 – Visit Cyprus and view properties
- Must research on the real estate properties and their prices prior to your visit to Cyprus.
Stage 3 – Sign the agreement of Sale & submit biometric
- After selecting the property, you are required to sign an agreement of sale of property
- Upon agreement, must provide biometrics at the Civil Registry and Migration Department (CRMD).
Stage 4 – Gather Documents for Application
- Must arrange the documents in order as per the documentation checklist
Stage 5 – Submit the citizenship Application
- Upon gathering all the documentation, you must submit the application to Ministry of Interior for preliminary approval
Stage 6 – Application approval and Cyprus Passport
- Upon application submission, you will receive an application approval from the Ministry of Interior
- You will receive the Cyprus Passport in 6 Months (180 days)
Processing Time and Fees for Cyprus Citizenship by Investment
Cyprus citizenship by investment processing time will take around 6 months. Below is the breakdown of processing fees:
- CBI application submission fee – EUR 2000 (INR 1.74 Lac) per adult
- Certificate Issuance Fee – EUR 5000 (INR 4.34 Lac)
- Passport Issuance Fee – EUR 120 (INR 11,000)
How Abhinav can help for Cyprus Citizenship by Investment:
Cyprus investment programme has a comparatively straight-forward process, but is very delicate that require utmost level of dexterity in the documentation and application process while maintaining the facts and facets of the investment. Abhinav Immigration is widely known for executing such application process with the backing of dedicated business immigration division, a team of immigration experts and wide network of international stakeholders and designated bodies.
- We provide complete support for real estate purchase, exploratory visit, investment evaluation, documentation submission, legal consulting methods and post landing services.
- We conduct thorough internal due diligence checks and documentation review similar to the Government of Cyprus.
- We assist our client right from the beginning of the process, guidance and preparation of all required documents until the successful citizenship
- Provide help on choosing the right real estate and all other investments options available in Cyprus
- We provide update about the status of the application and provide complete help in obtaining the passports and ID cards for entire family.
- We give more importance on market research, real estate and properties finding, Preparation and review of all necessary legal documents and visa solutions.
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