Alternatively and for any other inquiries, please call us direct via +306932478585 or +971506689558. Children and young people Cyprus is a country covering two thirds of the island of the same name located in the eastern Mediterranean Sea, at the crossroads between Europe, Africa and Asia, in an area of confluence of the busy sea routes of these three continents. The applicants immediate family members qualify as dependents of the application, including spouse, children up to the age of 25 and parents of the investor. There are three means by which citizenship can be canceled, Terminus of citizenship by release Basic knowledge of the language, history and culture of Cyprus will be among the new stricter criteria to be fulfilled before the granting of Cypriot citizenship, it emerged on Saturday. A majority of the Cyprus population speaks English, and course lectures are in that language as well. The following criteria outline the Cyprus citizenship requirements which an applicant must fulfill to obtain citizenship by investment. * Applicants should buy property in Cyprus with a minimum value of 500,000, to be held in perpetuity. However, they may serve as directors of a Cypriot company. Investing 1.5 million in land parcels or villa projects approved by Cyprus Land Development Corporation, investing the remaining 500,000 in residential property and selling off the land parcel/villa after a 5-year holding period. Are you a foodie, a travelholic, or like to share your experiences? In the case of permanent residence by investment, for example, this status opens the doors to those who wish to do business in Europe as non-EU citizens. To be eligible for Cyprus citizenship under its Citizenship by Investment Program, the applicant is required to make a combined Investment of Real Estate and a non-refundable contribution to the Government. Cyprus tourist visa is required for Chinese citizens. Most recently, in 2016, the investment criteria were further lowered to 2 million. Eligibility requirements to gain Cyprus nationality In order to be eligible for CIP, the main applicant must be at least 18 years of age and must have a clean criminal police record. The director of a Cyprus company cannot be shareholder of that company. We will explain this regime in more detail below. Dual citizenships offer significant advantages, especially for high-net-worth individuals. Equity investment in a Cypriot company that has a physical presence in this country and employs at least five people. Developed by YCS-Yahalom Creative Solutions. Entry into the territory of the Republic of Cyprus via any other port or airport in which the Government of the Republic does not exercise effective control (Turkish occupied areas) is illegal. Naturalized Northern Cyprus citizens are persons granted citizenship by the de facto Government of Northern Cyprus, which is recognized only by Turkey. St. Kitts & Nevis Citizenship by Investment, Economic Citizenship by Investment Programs, Caribbean Citizenship by Investment Programmes, St. Kitts & Nevis Citizenship by Investment Program, The main applicants age must be 18 years and above, Should not have a history of criminal complaint or record, to ensure a good character, Must hold a valid Schengen Visa. It is essential to register for Cyprus residency at the beginning of the process, as you must be a resident for at least 6 months in order to obtain Cypriot citizenship. without the approval of the competent authorities, is prohibited. animals, birds, fowls, lizards, cactus, hides, ivory, etc. Hazardous wastes (according to the Basel Convention). Visas and residency if you were living in Cyprus before 1 January 2021. A Cyprus passport offers myriad other benefits like visa-free travel to EU member states, access to undergraduate and certification programs from EU member states, free undergraduate studies in public universities, freedom to work and live with families in EU member states, and low corporate tax rates. The . Geographically, Cyprus is a Mediterranean island nation enjoying connectivity to Europe, Asia and African continents alike. Cyprus Citizenship may be obtained through purchase of main residence at EUR 500,000.In addition, investment of EUR 1.5 million in residential property or financial assets of Cypriot Companies/Organisations, the secondary market of Cyprus Stock Exchange, investment in Alternative Investment Funds or financial assets of Cypriot companies licensed by the Cyprus Securities and Exchange Commission . The first thing you must comply within Cyprus citizenship by investment requirements is the lock-in residency. Any documents relating to these goods A meeting can be arranged either in Beirut or in Doha. Wealthy investors who deposit a sum of 2.2 million into the country are granted full Cypriot citizenship after meeting other requirements. These citizens should have resided in Cyprus for at least 5 years preceding the date of application. To apply for Cyprus visa in Dubai Address VisaHQ.ae Office 605, DAMAC Executive Bay Towers, Tower B Business Bay Dubai Phone +971 4 375 0400 Office hours Monday Friday 9 am - 6 pm Call center hours Monday Friday 9 am - 6 pm Email info@visahq.ae Everything you need to manage Cyprus visa application in one place. Narcotics In short, Cyprus remains an attractive destination not only for tourism, but also to develop your business or to receive your income with a low tax burden. 0-14: 15.6%, 15-24: 13.81%, 25-54: 47.04%, 55-64: 11.45%, 65+: 12.09%, Orthodox Christianity (89.1%) Any person contravening the Law and the Orders made under it, is liable, in case he is found guilty, to a fine and / or imprisonment. Country name. Yes, foreigners can buy a property in North Cyprus. Feature your writing on Cyprus.com! It can be submitted by foreign nationals, who have completed seven years of legal residence in the Republic prior to the date of application. or ethyl alcohol of 80% vol. Residency & Citizenship +44 207 292 2977 . Although the present provisions secure third-country nationals rights in a wide perspective, it is up to the EU Member States to determine volumes of admission for those seeking work, whether employed or self-employed (Article 79 para. Step 2: You need to book an appointment in one of such immigration offices in advance. Such companies must also have a physical presence in the country in the form of offices that employ at least 5 Cypriot nationals. You can also find visa exemptions and useful tips from fellow travellers. You must make a 30,000 deposit into a bank in Cyprus. Please note: Travellers under the age of 17 are not granted relief on tobacco products and alcohol and alcoholic beverages. Laissez-Passer issued by the United Nations. It's a straightforward process, which will include providing a clean police check and receiving permission from the Council of Ministers What is the process of purchasing a property in North Cyprus like? Cyprus' maximum income tax rated based on personal income is presently set at 35% for income in excess of 60,000. The investment options for the program include the following: Investment of 300,000 in a residential property (new house or apartment) Investment of 300,000 in commercial property 200 cigars A valid passport is required for a stay of up to 90 days for all bonafide tourists except citizens of European Union countries, Switzerland , Iceland , Liechtenstein and Norway who may enter Cyprus with their national identity card provided it bears a photo. Purchase of a participation in a local investment fund, but the requirement is that it be a collective investment fund (OICVM). Learn how your comment data is processed. For this reason, Cyprus has been a destination par excellence for Russian citizens, from the CIS countries and from Southeast Asia. Check the entry requirements for Cyprus. The Cyprus Investment Program offers the most simple and efficient means of obtaining Cyprus citizenship by investment, which provides full EU rights, including the ability to live and work in any EU country. The application review procedure is initiated once an application for citizenship by investment is submitted. An annual budget of 1.4 million was set aside for three years to ensure due diligence checks for all applicants under the citizenship by investment program. Cyprus Citizenship Programme Eligible dependants may include spouse, children, and parents who qualify age requirements Main applicant must be over the age of 18 Clean criminal record Property not frozen by the EU Cyprus Investment Programme Requirements Cyprus Citizenship Programme It is vital to carefully consider a candidate for director. For those intending to be employed in Cyprus, the issue of an employment permit by the Civil Archive and Migration Office is required, and thereby no visa is required in order to travel to Cyprus. Transfer fee 3% and legal fees around 1250. Within the European Union (EU) document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Alcoholic drinks If you are coming from an EU Member State, you are allowed to bring your pets to Cyprus, provided they possess either a passport or an Animal Health Certificate. The good news is that Brits can enter any EU country without a . These companies must have a tangible business within Cyprus. Step-by-step procedure and detailed requirements for applying to the Cyprus Citizenship Program. The Cyprus government through its Council of Ministers brought in the following changes effective May 15th, 2019 to help streamline and regulate Cyprus passport requirements through its citizenship program. This requires a visit to Cyprus. It offers excellent education facilities, and boasts of a low crime rate, having been ranked the 5th safest country in the world. Here, the date of application submission is referred to as the date when the application submission fee of 2,000 is paid. There are four ways to legally obtain a Cyprus citizenship. 90 litres of wine (of which, a maximum of 60 litres of sparkling wine) On 13 October, 2020, in an extraordinary meeting, the Council of Ministers in Cyprus handed down a decision to cancel the Citizenship by Investment Program. This threshold was then brought down to 3 million during the global financial crisis. You may retain citizenship in your home country: Cyprus allows dual citizenship. Presently, it is possible for foreign tourists who visit the government-controlled area of the Republic of Cyprus, to cross to the occupied areas. Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Organizations Outside the EU 5. One for permanent residency and one for citizenship. Copy of the Cypriot Registrar of Companies provided company registration certificate in case applicants citizenship application is through a Cypriot company, Copy of the Cypriot Registrar of Companies provided shareholders certificate listing the applicant as an existing shareholder, Last three years company audited accounts before the year of application. In that respect, Cyprus legislators adopted several law provisions where certain criteria must be . The latest amendment stipulates the following individuals who can qualify for applying for UAE citizenship: Foreign investors. 2015 was the year before the UK voted for its withdrawal from the EU. Capital gains tax (e.g., on sale of real estate) of 20%. According to Cypriot Law, the Importation, Possession and Use of Narcotic Drugs and Psychotropic Substances, is strictly prohibited. Up to 2013, applicants had to invest 10 million for a passport. 2022 All rights Reserved - Blog - Privacy Policy - Terms of Use - Disclaimer - Contact us, How to become tax resident in Cyprus, the Mediterranean paradise, 1,true,6,Correo electrnico de contacto,2, Switzerland: corporate taxation and advantages of setting up a holding company, The complete guide to buying a property in Spain as a foreigner, Greek Golden Visa: residency through investment on the shores of the Mediterranean Sea. Main applicant requirements 18+ years of age Good health No criminal record Successfully pass due diligence checks Receive approval by the Government Confirmed investment sources Eligible dependents Spouse of the main applicant Once obtained, such a citizenship is relevant for life for the applicant as well as his dependents. The citizenship is also transferred to the applicants direct descendants. In cases of applicants who are children or parents of . All properties are priced in GBP. In any case, the applicant must have resided legally . As such, an applicant may choose to invest 500,000 in residential property and the remaining 1.5 million: The following list provides an insight on the set of documents applicants need to furnish to fulfill the Cyprus passport requirements. All other relevant documents with reference to financial investments undertaken by the applicant as per the 2 million mandated by Cypriot Council of Ministers. passport; ID card; Driving license) Parents' Republic of Cyprus documentation ( i.e. 2. Copy of valid temporary residence permit (if the applicant lives in Cyprus), Statement of deposits in a Cypriot bank account of a minimum of 30,000 euros blocked for 3 years, Declaration of a secured annual income of at least 30,000 euros from sources other than employment in Cyprus (original documents and affadvit), Title of ownership or contract of sale of a built property in Cyprus of a minimum market value of 300,000 euros (original or copy), Official statement by the applicant that he does not intend to work or engage in any form of business in Cyprus, Criminal record certificate from country of origin with translation into English and certified by a notary and by Cyprus embassy, Childrens birth certificates where applicable, Buy, create or participate in businesses or companies in the country, Investment funds, financial assets of businesses or organizations on the island, Cyprus government bonds a maximum 500,000; the balance 1.5 million should be invested in other options such as property. 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