Why Cyprus is the Easiest Country to Get Citizenship in Europe?
There are a number of specific reasons for Cyprus being so welcoming and accommodating to foreign investors. We will explore those factors, both to explain the reasons and also to enable anyone who is considering gaining a second passport to understand how they can more easily move forward to achieve Cyprus citizenship. Of all the European nations from which foreign investors and high net worth individuals choose to obtain second or global citizenship, Cyprus proves to be the fastest and easiest country to get Citizenship in Europe.
A Brief Summary of Cyprus Citizenship Requirements and Conditions
This straightforward program is open to individuals, and their family members, who satisfy (or whose corporations satisfy) the following conditions:
- They must have a clean criminal record.
- They must invest a minimum of €2 million in a selection of state bonds, financial assets in a Cypriot organization, approved real estate or infrastructure projects,
This summary of the investment requirements is exactly that—a summary. You can get more detail on our full guide on the Cyprus citizenship by investment program.
The Benefits of Cypriot Global Citizenship
The benefits of Cypriot citizenship are a major driving force as to why high net worth individuals choose this country. Cyprus lies at the crossroads of Europe, Asia, and Africa making it a perfect business location. It has seen intense foreign investment in the past few years, spurred partly by the island’s economic growth; its well-educated, multilingual workforce; and the government’s focus on establishing a very attractive investment and taxation regime. Cypriot citizens enjoy, for example, a low corporate tax rate and no wealth, inheritance, or capital gains taxes. There is also no restriction on repatriation of profits.
In addition to these obvious benefits, Cyprus is a member of the 28-nation European Union, so all passport holders are immediately entitled to the advantages of European citizenship. Cyprus does not impose physical residency on its global citizens; therefore, investors may settle and base their businesses in any EU member country.
The Cyprus luxury real estate market is quite superb. There are approximately 25 large-scale development and investment opportunities, including the fabulous Del Mar and ONE in Limassol, in which global citizens can invest, both to achieve their citizenship and enjoy permanent luxury living.
The Cyprus Citizenship Application Process
Applying could hardly be more simple, straightforward, or speedy. Applicants, their spouses, and their approved children (under 18 years of age) submit the appropriate paperwork, through their immigration representative, to the Cypriot Ministries of Interior and Finance.
The Council of Ministers gives its decision within 3 months from application and then issues the Certificate of Naturalization. The successful applicants then visit Cyprus to take the Oath of Allegiance, and within another 2 business days, they receive their Cyprus passports.
The ease and speed with which applicants and their family members may become citizens of Cyprus makes it the first choice for many high net worth investors. We are here to answer your questions and to explain the process in more detail. So, if you want to achieve European member-nation citizenship for yourself and your family, please contact us so we can provide a free initial consultation.