Cyprus, an European Union member, is becoming a major destination for international trade as it is surrounded by oceans where residents are benefitted with high quality of life. The island has beautiful Mediterranean beaches with a year-round climate of sunshine. It offers an excellent healthcare system, and multiple options for education with many private English schools and universities.
The Cyprus Permanent Residence Permit has been in existence for a number of years, and now the Cyprus government amend some changes to make it simpler. The Cyprus government has introduced recently a started the fastrack permanent residency programme for other country nations who wants to invest in Cyprus.
The countries aim to grant the PR permit within two months time period from the date of submission. According to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the permit may be granted to third-country nationals who fulfil the following criteria:
(a) purchase of one or more properties in Cyprus, with a value of €300.000 (plus VAT)
(b) provide a clean criminal record certificate issued by the authorities of the country of origin
(c) provide a statement of no intention to work in Cyprus, and
(d) visit Cyprus at least once every 2 years for a night.
There are many foreign families who decide to move permanently to the island to take advantage of the warm weather, high standard of living, quality education and EU residency or on top of it high security of life, close proximity to nature and clean environment. The international business opportunities and tax structure also attracts other country nationals.
FAST AND SIMPLE - Cyprus EU Citizenship by Investment can be obtained within 3 months
NO RESIDENCE REQUIREMENTS - Investors must visit Cyprus at least once every 7 years
FREE MOVEMENT - Citizens have the right to live, work and get an education within the European Union, Free movement of goods, services and capital, Visa-free travel to over 158 countries including the EU and Canada
PROTECTION - Protection by the diplomatic or consular authorities of any EU country
LANGUAGE - There are no language requirements
NO DONATION - No donation to the Cyprus Government is required
RIGHT TO VOTE - All European Citizens have the right to vote and stand for European Parliament Elections
DUAL CITIZENSHIP - No need to renounce previous nationality as dual citizenship is allowed
VALID FOR LIFE - Citizenship can be passed to future generations by descent
ELIGIBILITY - All nationalities are eligible for the programme
NO TAX CONSEQUENCES - No tax consequences unless one opts to become a tax resident in Cyprus