CYPRUS

Cyprus Citizenship Program

OVERVIEW

In 2016, the Cyprus Council of Ministers decided to encourage foreign direct investing and to attract high net worth individuals to Cyprus by creating the Scheme for Naturalization of Investors in Cyprus by Exception (Cyprus Citizenship Program).

We are now pleased to introduce the Cyprus Citizenship Program for a total cost of €875,000 including all fees! This very attractive, low-cost investment option is only possible because we have arranged an Alternative Investment Fund (AIF) non-recourse financing package originating outside Cyprus. This program allows a family to obtain citizenship in the European Union in just 6 to 9 months.

There are two options:

  • Cyprus Citizenship Program: Alternative Investment Fund (AIF) units for a total cost of €875,000 including all fees
  • Cyprus CitizenshipProgram: Real Estate Investment for a total cost of €2,605,000 including all fees

BENEFITS

This program offers many benefits to investors, such as:

  • No residency requirements
  • Visa free travel to 175 countries
  • Cyprus allows dual nationality
  • Citizenship is valid for life and is transferable to descendants
  • No tax on world wide income
  • Ability to travel, live and work in Cyprus or nay EU country including Switzerland, Norway, Iceland, and Liechtenstein
  • Medical benefits at state hospitals
  • Many high quality private schools and universities

QUALIFICATIONS

To qualify for the program, investors must meet the following criteria:

  • Possess a valid passport and Schengen travel visa
  • Have €3,000,000 in net worth, and be able to document the source and path of funds
  • Purchase residential real estate in Cyprus for minimum €500,000 (plus Value Added Tax)
  • Hold minimum €2,000,000 of Alternative Investment Fund units for 5 years (financing available through us) OR invest €2,000,000 in Cyprus real estate for 5 years
  • Donate €150,000 to the Cyprus Government
  • Pass a due diligence check

There is No age limit, No interview, No minimum education level, No language requirement, No residency requirement, and No anagement experience requirement. This program is excellent for families who wish to reside and/or do business in Europe (Cyprus does not charge tax on worldwide income). The European Union offers a high quality of life, including modern business and medical facilities, shopping, natural beauty, sports, and cultural events.

PROCESS

ABOUT CYPRUS

Cyprus

Cyprus was recently ranked as the 5th best relocation destination in the world (Knight Frank World Wealth Report 2018), and was one of only 2 European countries in the top 5. Coupled with very favorable offshore tax laws, Cyprus is a very desirable destination for investment immigration.

Geography

The Republic of Cyprus is a European island country located in the Eastern Mediterranean Sea. It is located between the continents of Europe (east of Greece), Africa (north of Egypt), and Asia (south of Turkey, and west of Syria and Lebanon). With an area of approximately 9,251 square kilometers, it is the third largest island in the Mediterranean Sea.

The island is dominated by two mountain ranges, with a central plain between them. It is surrounded by 648 kms of coastline, including 52 accredited beaches.

Climate

Cyprus is the hottest, driest island in the Mediterranean, enjoying approximately 320 days of sunshine each year. Average coastal temperatures range from a low of 16 degrees Celsius in February, to a high of 33 degrees Celsius in August.

Population

The country has a population of approximately 1.1 million people, approximately 35% of whom live in the capital city of Nicosia. Other cities include Larnaca, Limassol, and Paphos.

Languages

The official languages are Greek and Turkish, however, 80% of the population also speaks English.

Health Care

Cyprus has many modern, private hospitals, which provide therapeutic, medical and surgical services.
These hospitals are located throughout the country.

Education

State schools teach in the Greek language, and are free for children between 5 and 18 years of age. Children who wish to attend state schools, but do not speak Greek, are given special lessons in the language. There are private English or French schools in each city, and many state and private universities throughout the country.

Economy

Cyprus has a free-market, services-based economy, and is one of the most prosperous countries in the Mediterranean region. In the past 20 years, the economy has shifted from agriculture and light manufacturing to services, and the United Nations ranked Cyprus as a “High Potential – High

Performer” for future growth. The currency is the Euro.A significant natural gas discovery was made off the coast of Cyprus in 2011. So far, 11 trillion cubic feet of natural gas has been identified, with much more exploration planned in future. As such, Cyprus is expected to become one of the richest countries in Europe.

Before joining the European Union in 2004, Cyprus dismantled most investment restrictions, attracting much foreign investment, particularly from the European Union. Cyprus has good business and
financial services, modern telecommunications, an educated labor force, good airline connections, asound legal system, and a low crime rate. Cyprus’ geographic location, tax incentives and modern infrastructure also make it a natural hub for companies looking to do business with the Middle East,

Eastern Europe, the former Soviet Union, the European Union, and North Africa. As a result, Cyprus has developed into an important regional and international business center.

The GDP in 2018 was $25 billion USD. Tourism, the service sector (including financial and health services), industry (refined petroleum, mining, manufacturing, chemicals, etc.), and construction account for the majority of the GDP presently.

Exports were $3.59 billion in 2019, including agricultural crops, pharmaceuticals, cement, and clothing. Major markets are the European Union (Greece, the U.K., and Germany), the Middle East and Russia. Imports were $9.6 billion, including consumer goods, raw materials, petroleum, food, and transport equipment. Major suppliers were Greece, Turkey, Italy, South Korea, and Germany.

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