Economic Citizenship Program Cyprus
Economic Citizenship Program Cyprus | GCI. We are the world's leading experts in advising foreign investors on Citizenship & Residency by Investment. Cypriot Economic Citizenship Program. Read more on how to apply for Economic Citizenship Program Cyprus.
As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus the Council of Ministers, on the 13th of September 2016, revised the "Scheme for Naturalization of non-Cypriot investors by exception" and, thus, established the new criteria and terms based on which non–Cypriot entrepreneurs/ investors may acquire the Cypriot citizenship. Cyprus is a member country of the EU since May 1, 2004 with its geographic size of 9,251 km², and population number 847,008, as per 2015. Cypriots comprise 0.2% of the total EU population. Its capital is Nicosia and the official language in Cyprus is Greek. The Gross Domestic Product (GDP) is €17,421 billion, as per 2015. Cyprus’ currency is Euro (€) since it became a member of the Eurozone on January 1, 2008. The political system is a presidential republic. Cyprus holds 6 seats in the European Parliament and has held the revolving presidency of the Council of the EU once in 2012.
To apply for the Economic Citizenship Program Cyprus the applicant has to make a significant economic contribution to the country. The first option is to make an investment to the into an Alternative Investment Funds or financial assets of Cypriot enterprises or Cypriot organizations. Second option is a designated Investment in real estate, developments and infrastructure projects. Third Option is to purchase, establishment, or participation in Cypriot businesses and companies. We will guide you through the whole submitting process for the Economic Citizenship Program Cyprus.
How to apply for citizenship in Cyprus?
On 13th of September 2016, the Cyprus Council of Ministers has decide that the investor and his/her adult family members, prior to their naturalization as Cypriot citizens, must hold a residence permit in Cyprus. If the applicant (either investor or family member) does not already hold a residence permit, he/she may apply for an Immigration Permit on the basis of Regulation 6 (2) of the Aliens and Immigration Law, simultaneously with the application for naturalization. The Cypriot citizenship can be granted to the spouse or partner of the investor and to his/her parents, financially dependent adult children and minor children (under the age of eighteen).
To apply for Economic Citizenship Program Cyprus applicants must be at least 18 years of age, be of a good character with no criminal record, and have good health. The application of the spouse or partner of the investor can be submitted along with the application of the investor, so that both spouses/partners will be able to acquire the Cypriot citizenship simultaneously. The process of applying for citizenship in Cyprus is rigorous and requires diligent preparation in order to gather all the information needed. Application timelines can vary and be difficult to predict, although they usually depend on how easily an applicant can access the required documentation, as well as the complexity of the application as a whole.
The process may be simplified into the following steps:
- Application preparation and pre-approval by GCI - Global Citizenship Investment
- Submission of the application to the Government of Cyprus
- Government processing of the application and due diligence checks, taking between 3 and 4 months for completion.
- Approval in principle.
- Investment in one of the three options listed above
- Citizenship certificate issued.
- Passport application and issuance.
Furthermore our consultants will guide you through the whole submitting process for the Economic Citizenship Program Cyprus.
Why become a citizen of Cyprus?
Cyprus is one of most stunning natural environment of the world; Cyprus is an island country in the Eastern Mediterranean Sea, off the coasts of Syria and Turkey. Cyprus is the third largest and third most populous island in the Mediterranean and it is also the world's 80th largest by area and world's 51st largest by population. It is located south of Turkey, west of Syria and Lebanon, northwest of Israel and Palestine, north of Egypt and southeast of Greece. The island’s ideal strategic location has shaped its history and civilization throughout the centuries. It measures 240 kilometres (149 mi) long from end to end and 100 kilometres (62 mi) wide at its widest point, with Turkey 75 kilometres (47 mi) to the north.
Cyprus has a subtropical climate one of the warmest climates in the Mediterranean part of the European Union with very mild winters (on the coast) and warm to hot summers. Snow is possible only in the Troodos Mountains in the central part of island. Rain occurs mainly in winter, with summer being generally dry. The area of the Republic of Cyprus under government control has a market economy dominated by a services sector that accounts for more than four-fifths of GDP. Tourism, finance, shipping, and real estate have traditionally been the most important services. Cyprus has been a member of the EU since May 2004 and adopted the euro as its national currency in January 2008. During the first five years of EU membership, the Cyprus economy grew at an average rate of about 4%, with unemployment between 2004 and 2008 averaging about 4%. We suggest the Economic Citizenship Program Cyprus will offer our customers a lot of benefits.
- Visa-free travel to 173 countries, including all European Schengen states (EU), UK and others.
- The option to establish oneself in any one of the 28 European Union member states, as well as Switzerland.
- Free and easy money transfer within all European countries.
- Great opportunity for investment
- Waiting time frame of 90 days.
- A low tax regime, safeguarding citizens from, for example, worldwide income, inheritance, and gift tax
- No residence mandatory requirements
- The opportunity to maintain dual citizenship if so desired
- Low cost of living, coupled with a high standard of living
- Excellent education and healthcare systems, and advanced infrastructure
Cypriot passport are issued to citizens of Cyprus for the purpose of international travel. Every Cypriot citizen is also a citizen of the European Union. The passport, along with the national identity card allows for free rights of movement and residence in any of the states of the European Union and European Economic Area. According to the 2016 Visa Restrictions Index, Cypriot citizens can visit 173 countries without a visa or with a visa granted on arrival, thus ranking the Cypriot passport 15th in the world. Cypriot citizens can live and work in any country within the EU as a result of the right of free movement and residence granted in Article 21 of the EU Treaty.