Golden Visa Cyprus: A route to Residency and Cyprus Citizenship by Investment 2019. Just with a minimum investment of €350,000 or €2,000,000, you can have access to reside permanently in Cyprus and Obtain a Cypriot passport through a secure, effective application process by DM-Consultant.
Golden Visa Cyprus – A Brief Overview
The golden visa Cyprus is a program established by the government of Cyprus aimed at engaging foreign investors and non-EU citizens towards the development of the country. The golden visa Cyprus scheme occurs in two different categories: The first is the real estate investment which offers investors a permanent residency in the country, while the second is the Cyprus citizenship by investment aimed at attracting high-class investors, and in turn, offer them a Cyprus passport within 6 – 8 months.
The rules and requirements for the golden visa Cyprus program were recently changed in February 2019 due to an agitation by the European Union for a more rigorous and investigative approach towards the source of wealth by several foreign investors. However, it is still the apparent Europe golden visa program because it does not require the physical presence of investors within the duration of their residency.
Cyprus is a member country of the European Union, and this implies that investors who obtain the golden visa Cyprus will have access to travel to other countries within the European Union and Schengen zone. Cyprus is an excellent choice for foreign investors because of its favourable tax regime and a quality environment for businesses and companies. English being the dominant language, the country has lots of quality UK affiliated educational institutions, and it is rated the fifth safest destination in the world.
Cyprus is now a member of the Schengen zone which gives investors and their families the access to a wide array of Schengen states.
Cyprus citizenship by Investment 2019: Review, Requirements, Costs and Benefits of the Golden visa Cyprus.
The government of Cyprus in pursuant of high-quality foreign investors into its economy established a series of investment programs, one of which is the Cyprus citizenship by investment. It accords Cypriot citizenship to individuals or group of people who invest a minimum of €2,000,000 and satisfy other requirements stipulated by the program. One of the benefits of Cyprus citizenship by investment is the right to live, work, and study in all the Schengen member countries and the 28 EU member states.
The application for Cyprus citizenship by investment program can be made personally or through a representative company or group of companies where the applicant is a significant shareholder.
Foreign investors who are willing to obtain a second passport in Cyprus can apply for the program once they satisfy any of the requirements stated below:
- Make a contribution of EUR 75,000 to Cyprus research and innovation fund or any similar innovation enterprise registered in Cyprus. AND
Make a contribution of EUR 75,000 to Land development corporation in Cyprus.
- The applicant should be willing to make a minimum contribution of €2,000,000 into the building or acquirement of real estate.
- The applicant can choose to invest in businesses and companies within Cyprus. The minimum amount required is EUR 2 million, and such firm or company must have proven credibility, and employ residents of Cyprus.
- The applicant can also choose to invest in funds or assets of any Cypriot enterprise or organisation certified by the Securities and Exchange Commission. It is an alternative investment scheme of €2million, and the investment is in the form of bonds, debt securities or securities.
- Aside from the above options of investment, applicants can choose to combine one or two forms of the investment options listed above, but the first option is mandatory irrespective of the type of investment.
- Aside option (1) above, another compulsory requirement is for the applicant to purchase and own a permanent property in Cyprus, which becomes the applicant’s place of residence. This requires a minimum amount of €500,000 plus VAT and the amount can be added to the required EUR 2million if the applicants opt for the real estate option.
You can check here for more information about the documents and requirements for the Cyprus golden visa application.
What are the benefits of Cyprus citizenship by investment program?
- Freedom to live work, study and do business in other Schengen or EU countries within the visual and legal framework
- Direct family members of Golden visa Cyprus holders are beneficiaries of the program
- The processing of Cyprus citizenship by investment gets completed within 6 to 8 months
- As a Cyprus second passport holder, you can transfer the citizenship to your generations
Golden Visa Cyprus: Process on how to apply for the Cyprus Citizenship by investment program in 2019
The government recently reviewed the conditions for the application for Cyprus citizenship by investment 2019, and some changes were made to the program. One of these includes the processing period, strict background evaluation of the investors’ source of wealth, and the mandatory Cyprus research and innovation fund. Although the application is categorised into several steps to make it easy for investors to apply, if not correctly executed, it can harm the outcome of the process.
Therefore, DM-Consultants Qatar manages each step of the application to ensure that every document is made available at the appropriate time to promote the success of our client’s application.
During our consultancy services, we will identify the right choice of properties for our clients, access each investment, and consider its possible exit strategy. We have a team of Golden visa lawyers and consultants that constantly engage with the appropriate authorities in Cyprus during the process of the application to ensure that our client’s application gets the best representation.
Generally, the application takes up to Eight months for completion, and once it is completed, the applicant becomes a citizen of Cyprus. This is why the country has one of the fastest means of granting citizenship to foreign investors.
For more information and consultation about the Golden visa Cyprus and Cyprus citizenship by investment 2019, contact our expert immigration consultants here.