Citizenship and Residency Programmes in Cyprus.Posted By Webmaster XIPHIAS On 18-Jan-2019 10:48:42 AM
Cyprus has many advantages when it comes to making the decision to become a resident. It also has a very favorable tax regime for individuals and companies residing there. Cyprus has welcomed Citizenship by Investment to its country from third country nationals and to facilitate this has made terms and conditions for permanent residency. The fastest Immigration into Cyprus happens in a period of two or three months therefore Cyprus has the fastest Immigration Service in Europe.
Property acquired in Cyprus is freehold, there is a low property tax and there is reduced VAT on property of just 5% (subject to conditions).
Permanent Residency in Cyprus
The permanent residency program is beneficial as it allows ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years. If this Investment is made through a company then the applicant and the spouse would be beneficial owners of this program.
By Investment in Real Estate, a Cyprus Visa can be obtained. The investment in real estate requires a minimum market value and an initial payment.
Citizenship by Investment in Cyprus
Cyprus offers a fast and reliable route to citizenship of a European country through the Citizenship by investment program. An investment in real estate is required. Cyprus is unique as it offers Citizenship faster than most of the countries. The main attraction for this program is because of the fast citizenship process on offer of qualifying real estate investments.
The investment made should be in person or through a company in which the applicant is a shareholder. The type of investment can be of the following:
- The Investment in real estate and infrastructure projects.
- Purchasing or establishing a company or business in Cyprus.
- Investment of alternative funds in Cyprus
- According to the investment, documentation will have to be submitted as part of the application.
- The investment can be sold after a period of three years provided that the investor maintains at least a property with a minimum value of €500,000.
- The citizenship applicant has the opportunity of adding dependents to the application including his/her spouse, children (up to the age of 18 or between 18 and 27 if they are financially dependent on the main applicant) and parents (provided that they have purchased a permanent residence of at least €500,000 plus VAT).
- The applicant is required to have a clean criminal report and it is also compulsory that his/her name is not included in the list of persons whose property is ordered to be frozen by the EU. The applicant must hold a residence permit in Cyprus or an immigration permit.
The Benefits of Acquiring a Cyprus Citizenship
The benefits of acquiring a Cyprus Citizenship are as follows:
- Having the right to work and live in within the European Countries.
- Protection by the authorities of any European country.
- The right to vote and stand in European Parliament elections.
- Transport goods and services freely in any of the European Country.
- Having a Visa-free travel to over 158 countries including the EU and Canada.
- Ability of transferring Cyprus Citizenship to Descendants.
- Cyprus allows dual citizenship therefore previous nationality can be maintained.
- Cyprus Citizenship by Investment is quick and can be obtained in a span of 3-6 months.
- If a joint application for both Permanent residence and citizenship by investment is submitted then it takes only 5 days for the Cyprus Residence Permit to be issued.
- Some of Cyprus’s Universities offer tuition-free education to its citizens which are very beneficial.
- The graduate Degrees, diplomas or certificates awarded in Cyprus are recognized in all Europe countries.
- The public healthcare system is free for citizens.
- Permanent Residents in Cyprus receives medical care and treatment free or low of cost that would be covered by insurance.
Cyprus Permanent Residence Visa and Citizenship Program is one of an essential way of planning an international Investment trip. XIPHIAS Immigration can help people with this program .You can enlighten the world and make money at the same time.