Cyprus is one of the popular countries in the European Union when it comes to investments. There are many reasons for it. It is strategically located right in the middle of a crossroads of three continents namely Africa, Asia, and Europe. It is known to have a favorable tax environment for both individuals and companies. Property acquired in the country is freehold. Property bought in Cyprus has reduced VAT by 5 percent. Eighty percent of the country uses English and there are high-standard UK university branch campuses in Cyprus apart from having advanced health care facilities. It is also known as the 5th safest in the world and the lowest crime rate in Europe. It is also set to become part of the EU Schengen zone soon.

Citizenship by Investment

If you are trying to acquire a European passport, the Cyprus Citizenship by Investment is the fastest and easiest way to go. This is quick and highly guaranteed for investors who have funds amounting to €2.0 million in real estate which can be residential or commercial. Results can be received within two to three months. The property can be rented for income. By property, it means any number of properties that can cost €2.0 million as minimum investment. Real estate investment may be reduced down to only €500,000 right after three years. This investment can be personal or made through a company.

One of the major advantages of getting a Cyprus citizenship is that one will automatically become a European citizen, Cyprus being a member of the European Union. This means that Cyprus citizens and passport holders can now live in 35 countries that make up the EU. These people can work, travel, live, and study anywhere around the European Union. Other advantages to acquiring a Citizenship by Investment Program in Cyprus are the following:

• Real estate investment funds can be redeemed
• No requirement for physical residence
• Political stability and high-income economy with high standard of living
• No requirement to relinquish the current nationality since dual citizenship is allowed
• Easy application with higher chances of getting approved
• No restrictions on other countries
• Dependents both spouse and children who are under 27 years old can be included in a single citizenship application.

Conditions of Eligibility

The following are the qualifying investments for a Citizenship by Investment visa in Cyprus: real estate that is worth €2.0 million, government bonds amounting to €2.0 million, Cypriot businesses and companies that amount to €2.0 million, or investment funds in Cypriot companies that cost €2.0 million.

For an individual to be eligible for Citizenship by Investment in Cyprus, he or she must have no criminal record. The individual must also visit Cyprus at least once for signing documents and fingerprinting. The applicant must be at least 18 years of age and must have a permanent residence in Cyprus that has a value of at least €500,000 plus VAT.

Citizenship by Investment in Cyprus can be processed within 3 months. Permanent residency is the first to be issued and it is converted to citizenship for the investors and their dependents after a period of six months.