The Republic of Cyprus is a member of the European Union so all citizens of other EU and EEA (European Economic Area) countries do not require a visa to enter, have the same rights of residence as Cypriot citizens and are entitled to the same conditions of employment and social insurance. Non-EU dependents (the spouse and children) of EU citizens are entitled of these same rights.
For more information visit ec.europa.eu
Non-European Union citizens
The Cyprus Government has recently (March 2014) revised the previous schemes for the granting of Cypriot Citizenship with new ones that enable foreign non-EU investors to become Cypriot (EU) citizens, faster (about 3 months) and more affordable than ever through one of the following property investment:
A: €3.0m MULTIPLE UNIT INVESTMENT (€2.5m INVESTMENT + €500,000 PERMANENT RESIDENCE) or
B: €2.5m SINGLE PROPERTY INVESTMENT
REASONS TO OBTAIN CYPRIOT CITIZENSHIP
- Cypriot citizens enjoy the freedom to live, work and travel in the European Union and Switzerland.
- Dual citizenship offers an effective tool for international tax planning.
- Cypriot passport holders can travel without visa to more than 150 countries and can obtain visas for other countries (including the USA) quickly and cost effectively.
- Cypriot passport holders have access to the best and healthcare, education opportunities and social benefits.
- The investors’ spouse and dependent children under 28 years of age (provided they are in full-time education) are also granted the right to citizenship without any additional investment.
- Cyprus has no inheritance tax, has highly favourable corporate tax structure and a comprehensive double tax treaty network.
- There are no physical residency requirements Citizenship is passed on by descent, offering a legacy to future generations.
- There are no tax consequences, unless you opt to become tax resident in Cyprus.
- Cyprus offers a great place to visit/live, it enjoys a strategic geographical position, offers excellent worldwide communications, has excellent infrastructure, pleasant climate and is highly stable.
TERMS & CONDITIONS
- Applicants must hold a clear criminal record from the country of origin and the country of residence (if different).
- To maintain the citizenship, the investor must always keep a real estate property of minimum value €500,000 which will be considered as the permanent residence. The remaining investment can be sold after 3 years.
- Any property purchased during the past three years will count towards the required investment figures. In such cases the purchaser must acquire additional real estate to reach the total required investment. A three year period must not have passed before the application admission.
- Applicants will be part of a collective real estate purchase scheme. This means that a minimum of 5 citizenship applications must be submitted together.
Vassos Markides Estates Ltd is confident in the process and approval rate and offers a money-back guarantee to the investors whose applications for Cypriot Citizenship are declined.