Cyprus Citizenship by Investment: Everything You Need to Know
The pandemic has increased the popularity of citizenship by investment Programs. People are looking for plan B to find a safe haven that can secure their family’s future. Among these programs, Cyprus citizenship by investment is eyed by investors all across the globe.
Obtaining Cyprus citizenship brings investors and their families to the European Union. The country is growing and economic recovery is taking place. Cyprus also has a low count of covid-19 cases. The country’s shipping, tourism, legal, and services sectors are booming. It is the perfect time for Cyprus immigration and obtaining a second passport by investment in the nation.
Cyprus offers two immigration by investment programs. The first is a Cyprus permanent residency program, while the second one allows investors to get citizenship. In this article, we will provide valuable information on immigration to Cyprus by investment so that you can make a better decision.
What is Cyprus citizenship by investment?
Immigration to Cyprus from India is a challenging task. The traditional route does not offer flexibility and opportunities. The government then introduced the Cyprus citizenship by Investment – a global citizenship program that allows people to move with the families to the country by investing in real estate or financial assets.
The country welcomes foreign investment, which has made the program a popular choice for Indians looking to migrate. However, Cyprus has closed the program on 1st November 2020.
The alternate: Cyprus residency by investment
While the citizenship option is closed, the doors of Cyprus are still open for investors. They can apply for a Cyprus permanent residency by investment and migrate to the country. It gives them all the rights of a Cyprus citizen except the right to vote.
You can access the beautiful landscape, mingle in the rich and diverse culture, and live a stunning and lavish lifestyle. On top of that, you also get access to the European Union without any restrictions.
Cyprus Residency Program: Investment options
There were four different options to obtain Cyprus citizenship by investment. There’s only one option to get a residency in the country.
You can invest €300,000 in real estate by acquiring property in the country and move with your family of four members. The investment amount for Cyprus residency by investment is relatively lower than other countries in the European Union like Portugal and Spain.
Apart from the investment amount, there is also an application fee that you have to pay while formalizing the procedure. Global immigration Consultants like My Global Citizenship™ will take care of the process and fees for you.
Immigration to Cyprus from India: The timeline
Now the most significant advantage of the Cyprus global citizenship program is the quick processing time. You can obtain a European Residency for your family in just a matter of 3 to 4 months.
Cyprus permanent residency by investment: The benefits
Cyprus offers multiple benefits to its residents. First of all, you will be living in the European Union and experience the vibrant lifestyle of the nation. Many people dream of living in Europe, and the Cyprus global citizenship program can help you fulfill that dream.
Here are the primary benefits of Cyprus residency by investment
Safe and secure
Cyprus is a risk-free nation. It is one of the safest and most stable countries in the European Union. You will not find any political or social turmoil. The crime rate is also low as compared to other countries. If you are looking for or immigration where your family can be safe, then Cyprus is the right choice.
Avail business opportunities
The best thing about Cyprus immigration through investment is that you can own or start your business in the country. If you want to avail the economic opportunities, then you can also invest in an existing business. Cyprus has a growing economy, and you can read excellent returns from your investment. You can also expand your existing business in Cyprus.
Tax subsidies
The country has one of the most favorable tax regimes for companies and individuals. You don’t have to pay high taxes on your worldwide income. Residence by investment enables you to obtain unique benefits that save tax and bring down your living cost.
Quality lifestyle
Cyprus is a part of the European Union, and so, you will get access to a high-quality lifestyle in the country. There are world-class universities and schools for your children. You can access the Cyprus health care system, which is one of the best in Europe. The country has a diverse culture and welcoming neighborhoods that complement your standard of living and improve it.
European citizenship
After living in Cyprus for 7 years, you will become eligible to apply for citizenship. Since it is a part of the European Union, you will ultimately become a European citizen. It means you can access all the Schengen countries, travel visa-free to 160+ nations, settle permanently in Europe, and get the right to vote. Cyprus citizenship comes with a plethora of benefits that also includes the freedom to live, work, and travel anywhere in the European Union.
Get the assistance of experts for Cyprus permanent residency
The government has recently closed down Cyprus citizenship by investment Program. It means that you can no longer get Cyprus citizenship by investing in real estate or any other method.
The only open program right now is the Cyprus Residency by Investment Program. You can easily get confused between residency and citizenship programs without proper information and assistance. Since the two programs are so similar, there are chances that you might end up making the wrong decision.
That’s why we recommend the help of experts in global citizenship programs – like My Global Citizenship™. Our residence and citizenship planners will provide you complete assistance with the process. They will file the documents, and you won’t have to worry about anything. Contact our experts today for an online consultation.
