Cyprus Passport (Cyprus Citizenship by investment) is getting more and more attractive

Cyprus Passport (Cyprus Citizenship by investment) is getting more and more attractive and is currently considered as the most attractive passport in Europe. Investment required can be as low as 2.5 Million Euros.

Cyprus passport can also be combined excellently with Cyprus "Domicile" regime which exempts High-net worth non-domiciled individuals moving to Cyprus from personal taxes on rents (3% on 75% on rent income), interest (30%) and dividends (17%) which are applicable to Cyprus domiciled individuals.

There are also other important reasons for applying for Cyprus passport:

  1. The scheme is flexible, straightforward and quick. Cyprus citizenship by investment process takes approximately 3 months
  2. There is no requirement for applicants to be physically present in Cyprus,
  3. Investor need not be fluent in Greek language (local language) as opposed to other countries
  4. There are no investors donations to the Government as opposed to other countries
  5. Spouse and dependent children can also qualify with the applicant if they are up to 28 years old,
  6. Cyprus Citizenship can pass to future generations without the need of additional investments
  7. Dual citizenship is allowed
  8. Cyprus citizenship is not reported to other countries.
  9. There is a wide choice of investment options.

Major Cyprus Citizenship by investment options

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Option 1. Cyprus Citizenship by Investment of 2.5 Million Euros

  1. The applicant must have invested in 2.5. Million Euros plus VAT where applicable for 3 years in residential property. After 3 years the applicant can dispose the property and leave part for his own residence which should equal to a cost value of 500.000 Euros plus VAT where applicable or,
  2. The applicant must have invested in 2.5. Millions plus VAT where applicable for 3 years in residential property. After 3 years the applicant can dispose the entire property and replace with own residence which should equal to a cost value of 500.000 Euros plus VAT where applicable.

Residential property should be held for life.

Option 2. Cyprus Citizenship by Investment of 3 Million Euros

  1. The applicant must have invested in 2.5. Million Euros for 3 years in either or a combination of:

    • Bonds of the Republic of Cyprus
    • Financial assets of Cypriot companies or Cypriot organizations (bonds/ securities/ debentures registered and issued in the Republic of Cyprus). It is noted that these financial assets can be purchased either at issuance, or subsequently by the market.
    • Real estate, land development and infrastructure projects, construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector or other infrastructure projects). Investment need not be one project. It can be broken down to various investment projects thus giving the change to the investor to achieve maximum return on investment. Non developing land does not qualify. Where applicable, VAT is not included.
    • Creation or participation in Cyprus companies or Cyprus businesses based and operating in Cyprus and
  2. Own residential property in Cyprus with a cost value of at least 500,000, Euros plus VAT where applicable. Residential property should be held for life.

Option 3. Cyprus Citizenship by Investment of 5.5 Million Euros

  1. The applicant must have personal fixed term deposits for three years in Cyprus banks of at least 5,0 Million Euros and,
  2. Own residential property in Cyprus with a cost value of at least 500,000, Euros plus VAT Where applicable. Residential property should be held for life.

How we can help

  • We can help you to apply and get your Cyprus Passport.
  • We can also help you to get your non domicile status in Cyprus and be exempt from personal taxes on your world wide income.

http://www.pkf-cyprus-nicosia.com.cy/

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.