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EU CITIZENSHIP

The Cypriot Government has devised a number of incentives to attract foreign investment into the country. One of these incentives is a citizenship-by-investment program that allows full Cypriot citizenship to applicants that invest more than EUR 2.5 million in real estate and who meet certain other requirements.

CITIZENSHIP-BY-INVESTMENT IN CYPRUS

The Cyprus citizenship programme offers the most simple and efficient means of obtaining EU citizenship, it is the only direct EU citizenship programme as it has absolutely no residency requirement and passports are issued in just 6 months. Investors and their families can obtain full EU rights, including the ability to live and work in any EU country practically immediately!

Dual citizenship offers an effective tool for international tax planning and provides financial privacy for banking and investments. It improves personal security, enables freedom of movement and allows access to the best healthcare and education opportunities

Passport Programme Specifics

Cyprus Citizenship is an effective means for international tax planning, providing financial privacy for banking and investment activities. Dual citizenship improves personal safety, allows more freedom of travel (access to EU countries for example), and grants better opportunities for health care and education.

Applicants need not personally come to Cyprus to submit their application. Instead, you are only required to visit the Cyprus Embassy in China and sign a Power or Attorney to authorise us to handle the entire application process.

 

BENEFITS OF THE PROGRAM
  • Passports are issued within three months
  • No physical residency requirement
  • Passports are issued to the investor, their spouse and dependent children up to age 28, provided they are in full-time education
  • Cyprus allows dual citizenship
  • All nationalities eligible
  • No language requirement, medical test or interview
  • Exit strategy after 3 years
  • Citizenship is passed on by descent, thus offering a legacy to future generations
  • No tax consequences, unless you opt to become tax resident in Cyprus
  • Pure investment, no donation required

BENEFITS OF CYPRUS EU CITIZENSHIP

  • Unrestricted right to live, work, travel and study anywhere in the European Union, Iceland, Liechtenstein and Norway.
  • Visa-free travel to 158 countriesEuropean citizens can access the established first-class EU health care systems
  • Free trade within EU, and business access to 500 million EU citizens
  • Cyprus has no inheritance tax and has a highly favourable corporate tax structure and a comprehensive double tax treaty network
  • Cyprus is an admirable place to visit and live. It enjoys a strategic geographical position, offers excellent worldwide connections, has excellent infrastructure, a pleasant climate and a highly stable economy
  • Establishment and free movement of services and goods

CONDITIONS

1.  The main investment may be sold after three years; however, the investor must always maintain/purchase a property with a value of at least €500,000
2.  Property purchased up to 3 years prior to the introduction of the legislation will count towards the required investment
3.  Applicants must hold a clean criminal record from the country of origin and their name must not be on the list of persons whose property is ordered to be frozen within the EU

CRITERIA & CONDITIONS

The process of obtaining Cypriot citizenship consists of a series of important steps that need to be implemented professionally and carefully.

SUBMISSION OF DOCUMENTS

In order to examine any applications the submission of the form (M127) and of the following is required:

1. Certificate of Clean Criminal Record from the country of origin and the country of residence
2. Residence in the Republic of Cyprus:
(a) Contract of Sale.
(b) Title Deeds/ Receipt for lodging the contract with the Lands and Surveys Department
(c) Receipts for paying the agreed purchase price
(d) Copy of the wire transfer in the Cypriot commercial banking institution in the name of the seller or the seller’s company

3. Investment in real estate, land development or infrastructure projects
(a) Contract of sale.
(b) Title Deeds/ Receipt for lodging the contract with the Lands and Surveys Department
(c) Receipts for paying the agreed purchase price
(d) Copy of the wire transfer in the Cypriot commercial banking institution in the name of the seller company.

Accompanying documents:

  • Birth certificate of the applicant
  • Marriage certificate of the applicant’s parents
  • Photocopy of the applicant’s and the applicant’s parents’ passports
  • Certificate of registration of the Cypriot parent (where applicable)
  • Copy of proof of fees paid 20 euros
  • Stamp worth 8.54 euros attached to the application

TAXES

  • Vat may be reduced to 5% on the first property purchase (first 200m2)
  • Standard vat rate is 19% (second property and over)
  • Additional taxes and duties apply (approximately €3,000)

THE PROCESS

STEP 1 – Review and select a real estate investment
STEP 2 – Preparation of citizenship application – the client will receive a detailed application package and document checklist.
STEP 3 – Acquire pre-approval via a pre-clearance check from a lawyer
STEP 4 – Citizenship application submitted to government
STEP 5 – Issue of Cypriot citizenship
STEP 6 – Naturalization of children
STEP 7 – Completion of acquiring property

COLLECTIVE INVESTMENT SCHEME

A collective citizenship application requires the simultaneous admission of at least 5 applications, the investors and investments are totally independent. Karma Developers submits a collective group on a monthly basis and has achieved a 100% approval up to this date.

KARMA PASSPORT PDF BOOKLET

For further detailed information about permanent residency in Cyprus, please contact us.