{"id":8969,"date":"2020-11-14T18:34:50","date_gmt":"2020-11-14T05:34:50","guid":{"rendered":"https:\/\/loonglist.com\/?post_type=project&p=8969"},"modified":"2021-04-20T19:15:31","modified_gmt":"2021-04-20T07:15:31","slug":"benefits-of-cyprus-citizenship","status":"publish","type":"project","link":"https:\/\/loonglist.com\/cn\/investment-project\/benefits-of-cyprus-citizenship\/","title":{"rendered":"Benefits of Cyprus Citizenship"},"content":{"rendered":"

CITIZENSHIP BY INVESTMENT CYPRUS<\/h2>\n

Cyprus offers the quickest, most assured route to the citizenship of a European country through the Cypriot citizenship by investment programme. An investment of \u20ac2.0 million in real estate is required. Cyprus is unique in its offering of citizenship within just\u00a06 months of such an investment. This grants a Cypriot passport and citizenship of an EU country, allowing the freedom to work, travel, study and live anywhere within the EU including countries such as Germany, France, and the UK. The investment can be reduced down after 3 years to just \u20ac500,000.<\/p>\n

PERMANENT RESIDENCY CYPRUS<\/h2>\n

Applicants can secure permanent residency in Cyprus through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires the investment of just \u20ac300,000 into a property to gain the Cyprus residency permit. The residency visa is granted within two months and covers the whole family. It includes parents of both the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse.<\/p>\n

The permanent residency programme offers ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years. The investment may be made by a company for which the main applicant and spouse are beneficial owners. The investment can be into a maximum of two properties provided they reach the \u20ac300,000 permanent residency limit. The properties purchased must be brand new.<\/p>\n

WHY CYPRUS?<\/h2>\n

Cyprus has a very favorable tax regime for individuals and companies residing there. Over 80% of the country speaks English and there are excellent education facilities including several UK universities with campuses on the island. Cyprus has the lowest crime rate in Europe and is the 5th safest country in the world. There is a high standard of educational institutions and healthcare facilities. Cyprus is strategically located at the crossroads of three continents, Europe, Asia, and Africa. Cyprus is set to join the EU Schengen zone soon. Property acquired is freehold, there is a low property tax and there is reduced VAT on a property of just 5% (subject to conditions).<\/p>\n

PROGRAM OVERVIEW<\/h2>\n

The\u00a0Cyprus\u00a0Citizenship by Investment program offers the fastest and most assured route to gaining a European passport through investment in real estate. It is quick and guaranteed and is available to investors who have sufficient funds to invest \u20ac2.0 million into real estate, either residential or commercial. No other\u00a0European golden visa\u00a0program guarantees such assured results offering an EU second passport in just two to three months.<\/p>\n

INVESTMENT<\/h2>\n

The property, either residential or commercial, can be rented for income. Any number of properties can combine to make up the \u20ac2.0 million minimum investment. The investment can be made personally or through a company in which the applicant is a shareholder.<\/p>\n

PROCESS<\/h2>\n

The applicant needs to have committed to the investment prior to applying for the visa and funds must be in place in Cyprus before application. Such funds can be released in accordance with any payment plan agreed for the property, particularly in the case of off-plan developments. However, an application can be made within a few days of committing to the investment. The\u00a0process for gaining the Cyprus passport\u00a0will then be completed within 6 months. A full refund can be offered for certain real estate investments in the unlikely case of refusal of the citizenship application.<\/p>\n

After 3 years the investment can be reduced down to just \u20ac500,000 and this investment must be maintained in order for the investor to retain their citizenship.<\/p>\n

RESIDENTIAL OR COMMERCIAL PROPERTY<\/h2>\n

One of the key considerations when deciding between residential or commercial property in Cyprus is the rate of tax (VAT) that applies. Commercial property will attract VAT at a rate of 19% whereas residential property will attract just 5% on the first 200sqm of the first and main permanent residence property.<\/p>\n

REQUIREMENTS<\/h2>\n

In addition to the real estate investment applicants will need a clear criminal record. There is no language requirement, medical test or interview. Very simple documents are required for the application. It is easy to apply and there is no requirement to stay in the country.<\/p>\n

FEES<\/h2>\n

Lawyer fees will apply for the processing of the citizenship application and purchase of the property and typically amount to around \u20ac30,000- \u20ac40,000 for a family. Government processing and application fees for a family of three would amount to \u20ac17,000.<\/p>\n

FAMILY<\/h2>\n

Qualifying family members include spouse, all children up to the age of 28 and all future generations. Parents can also qualify by making a further \u20ac500,000 investment in real estate.<\/p>\n

TAXES<\/h2>\n

The Cypriot government introduced a package of measures in 2015 to encourage international investment and residence from high net worth investors. Non-domiciled investors will be exempt from\u00a0taxation in Cyprus\u00a0for personal investment income including dividends and interest.\u00a0 This means that non-domiciled individuals will pay zero tax in Cyprus irrespective of whether the income is earned in Cyprus or abroad. There is no inheritance tax. Cyprus also has one of the lowest corporate tax rates in Europe at just 12.5%.<\/p>\n

LIVING, WORKING AND STUDYING<\/h2>\n

Applicants gain the full rights of EU citizens and have the ability to live, work and study anywhere in the European Union. However, the Cypriot government is keen to encourage residency. Cyprus has the lowest crime rate in Europe. An ex British colony and member of the Commonwealth that offers a high standard and affordable British education. An environmentally clean country, over 80% of the population in Cyprus speak English. At least three United Kingdom Universities have campuses in Cyprus.<\/p>\n

TRAVEL<\/h2>\n

Applicants gain a European passport and the access this gains allowing travel to 158 countries and districts without a visa. It includes multiple entries into Canada for six months and Australia, Singapore, Hong Kong, and Macao for three months.<\/p>\n

BENEFITS<\/h2>\n

Cyprus is a full member of the European Union. Citizens of Cyprus are European citizens. One of the fundamental rules of the EU is the ability for its citizens to travel, live, work or study anywhere within the European Union. Cyprus citizens and passport holders are able to live in any of the 28 countries that form the EU.<\/p>\n

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Cyprus offers two golden visa programs through real estate investment. One for permanent residency and one for citizenship.<\/p>\n","protected":false},"author":7077,"featured_media":8991,"comment_status":"open","ping_status":"closed","template":"","yst_prominent_words":[662,660],"acf":[],"_links":{"self":[{"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/project\/8969"}],"collection":[{"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/project"}],"about":[{"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/types\/project"}],"author":[{"embeddable":true,"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/users\/7077"}],"replies":[{"embeddable":true,"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/comments?post=8969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/media\/8991"}],"wp:attachment":[{"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/media?parent=8969"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/loonglist.com\/cn\/wp-json\/wp\/v2\/yst_prominent_words?post=8969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}