By investing in Cyprus and successfully achieving Cyprus citizenship through the Cyprus Investment Programme, you also become an EU citizen which brings you all the benefits that are available across the European Union. Benefits such as visa free travel, and the freedom to live and work in any other EU country. These benefits are not solely for you, but also for your spouse or partner and your children. You can even include your parents within your application subject to their own, smaller investment in real estate.
Wide ranging benefits for you and your family
Once you and your family have gained Cypriot citizenship, you are citizens for life. This citizenship will then be automatically inherited by your descendants, so in theory, you’re giving the gift of Cyprus and EU citizenship to the generations to come. Cyprus does not ask you to relinquish your current nationality, so you may keep your previous nationality in addition to your Cyprus citizenship.
Visa free travel extends to more than 174 countries worldwide. For regular travellers, this is going to greatly simplify movement between countries, making it particularly advantageous for those who often travel for business. The opportunity to live, work and study within the European Economic Area gives wide ranging opportunities for you, and your family. Opening up doors for your children that may otherwise not have been accessible to them. The European Economic Area includes all of the European Union as well a Switzerland, Iceland and Liechtenstein.
There are some lucrative tax benefits too. Cyprus has low rates of tax, and a particularly low rate of corporation tax. There is also no inheritance tax to pay.
As a destination, Cyprus has many desirable benefits. It has a very low crime rate, making it one of the safest places in the world to live. It also has excellent modern healthcare facilities and superb educational establishments. As a popular ex-pat destination, there are many schools specifically targetted at those moving to the island from overseas. With most people in Cyprus speaking fluent English, it is easy to settle in and feel at home, and there are no language learning requirements for those taking part in the programme.
What to expect, and your obligations
The usual time frame for completion of the entire process is around six months from beginning the application procedure to achieving permanent Cyprus citizenship for you and your family. You can apply on behalf of your spouse or partner, there is no requirement that you must be married, and also on behalf of your children. Dependent children can be included up to the age of 28 years providing they are in education. Children with severe disabilities may also be included. Your parents are also eligible within your application, subject to the purchase of a residential property, in which they will reside, to a minimum value of € 500,000. Alternatively, they may live with you, as long as the value of the property is at least € 1 million. Your total investment to be eligible for the programme must be a minimum of € 2 million.
Find out more
For more information regarding the Cyprus Investment Programme, please read more on our website or get in touch. We’re happy to answer any questions you may have and help you to start your journey to Cyprus citizenship.