Law

Why most investors prefer Cypriot citizenship?

WHY CHOOSE CYPRUS?
Cyprus has a high and diverse culture, mild Mediterranean climate, and a safe and firm setting suitable for bringing up families. Shareholders also check out Cyprus for business and investment purposes, spotting numerous investment opportunities. The great things about the Cyprus program are a great deal:

Fast procedure. Authorization of citizenship application within approximately six months;
Simultaneous submission of residency and citizenship applications.
No terms requirements.
Parents be eligible for citizenship provided they own a residence valued at €500,000 + VAT or own a show of €500,000 in a residential property of the key applicant.
Civil unions permitted submit applications.
No obligation to relinquish current nationality.
Low duty rates and free trade within the EU.
Unrestricted to live, work and review in Europe.
To own property within an EU member status.
Strategic geographical location forming a bridge between the EU, Midsection East and North Africa with direct access to the MEDITERRANEAN AND BEYOND.
Safest country on the globe with a population under 5 million.
Excellent education system as well as first-rate healthcare.
An outstanding getaway destination.

QUALIFICATIONS
Offered relating to subsection (2) of section 111A of the Civil Registry Laws 2002-2019, the Cyprus Investment Program is one of the most effective to lead to residence and citizenship in Europe.

To be eligible for citizenship, applicants must fulfill one of the investment options below and hold it for five years in addition to getting together with the following conditions:

Have a very valid passport.
Hold no criminal history.
Holds a valid Schengen Visa
Has no rejection from every other member-state of the EU.
The main applicant’s property is not frozen within the boundaries of the EU.
Have a very residency permit in the Republic of Cyprus, for an interval of half a year before being granted citizenship.
Own a long lasting private dwelling in the Republic of Cyprus with a price of at least €500,000 plus applicable VAT.
In the event any particular one chooses to purchase residential properties only and one of the residential properties is priced at at least €500,000, then your total investment amount must be €2 million.
INVESTMENT OPTIONS
1. Donation to the study and Innovation Groundwork and the Cyprus Land Development Corporation
(a) The applicant may donate at least €75,000 to the study and Innovation Foundation.

(b) The applicant may donate at least €75,000 to the Cyprus Land Development Corporation for the financing of cover schemes for affordable enclosure, but also for the materialization of other housing schemes/measures.

2. Investment in Real Estate, Land Development, and Infrastructure Projects
Applicants may invest at least €2,0 mil for the purchase or development of structures or for the building of other land development projects including residential or commercial trends, innovations in the tourism sector, or other infrastructure assignments.

3. Purchase or Establishment or Involvement in Cypriot Companies or Businesses
Applicants may invest at least €2,0 mil for the purchase or contribution in companies or organizations established and operating in the Republic of Cyprus. Proof physical occurrence in Cyprus is necessary, with occupation of at least 5 (five) Cypriot citizens, or citizens of any EU member express.

Other amendments were carried out which benefit the investor, including the addition of the key applicant’s parents in the application form upon carrying out an additional minimum amount investment of €500,000 in personal property.
All it requires for a non-Cypriot citizen to apply for a Cyprus passport is to meet a certain set of criteria, which include specific monetary requirements. As mentioned by the Cyprus Investment Program, if you meet this group of requirements, you can certainly file an application with the Minister of Interior to be able to get the Cypriot citizenship.

A recently available decision created by the Cyprus Ministry of Interior has taken changes to the standard rules. Namely, as of July 31 2018, the applications for the Cyprus Investment Program must be submitted by legal people who are recorded with the Registry of PROVIDERS (Registry) of the Cyprus Investment Program. As an associate of the registry, our lawyer can help you with this subject.

Overall, finding a Cyprus passport by investment provides significant benefits in many different fields. If you are prepared to take this important step, contact Evagoras Anastasiou and Affiliates LLC and one of the representatives are certain to get in touch with you quickly to further make clear the legal functions and the way the firm will help you achieve a Cyprus passport by investment.

4. Investment in Substitute Investment Money or Financial Possessions of Cypriot Companies or Organizations
Applicants may spend money on items of at least €2,0 million in Choice Investment Funds or Registered Alternate Investment Cash or financial property of Cypriot companies or Cypriot organizations that are qualified by Cyprus Securities and Exchange Fee. It is allowed for these AIFs or RAIFs to invest in extra market stock-market values of the Cyprus Stock Exchange an amount that does not exceed the €200,000.

5. Combination Investment
Applicants may choose combination of these options. The combination of assets must total at least €2 million.
Since In May 2013, the Government of Cyprus introduced changes to its legislation allowing foreign buyers to obtain citizenship of Cyprus through the special administration program – Cyprus Investment Programme. Previous changes to the Programmes was manufactured in May 2018.

Key concept of the program: applicants spend money on real estate or government bonds with their choice or invest to the alternative investment funds as well regarding the Cypriot company. As a result, they obtain citizenship of Cyprus within month or two (from 6 months) as well as for all members of the family including parents.