Cyprus Residency /
Citizenship by Investment
Citizenship by Investment
Cyprus Citizenship / Residency by Investment
Frequently Asked Questions (FAQ)
The following are questions frequently asked about the Cyprus Immigration by Investment programs. If you don't find your answers here, please contact us at your convenience.
Q: What are some of the reasons the Cyprus immigration by investment program is attracting so many international investors?
A: International business executives, investors, and important persons who are active worldwide consider an alternative residency and/or citizenship and passport a powerful tool for international tax planning and a safety net should the living conditions at home become unbearable.Applicants realize that Cyprus citizenship provides several benefits, including:
• Visa free travel to over 160 countries, including the USA, Canada,
and Europe
• Retirement in a safe country with a warm climate
• A better education for the applicant’s children
• Children and grand children gain visa free travel and the right to live, work, or study in many countries
• A better quality of life for the family, including better healthcare and an unpolluted environment
• Relatively low real estate prices
• Personal security
• Tax advantages
• Freedom associated with having multiple passports
• Applicants are not required to continuously live in Cyprus before or after citizenship approval.
• Retirement in a safe country with a warm climate
• A better education for the applicant’s children
• Children and grand children gain visa free travel and the right to live, work, or study in many countries
• A better quality of life for the family, including better healthcare and an unpolluted environment
• Relatively low real estate prices
• Personal security
• Tax advantages
• Freedom associated with having multiple passports
• Applicants are not required to continuously live in Cyprus before or after citizenship approval.
Q: What is the minimum investment required to obtain the Cyprus residency?
A: The minimum investment amount is EUR 300,000. Investment options include:
1) A new residential property (house or apartment).
2) A new or existing commercial property (plus additional residential property purchase or rental).
3) Share capital of an existing Cyprus company that employs at least five persons (plus additional residential property purchase or rental).
4) Units of a Cyprus Collective Investment Organization investment fund (plus additional residential property purchase or rental).
2) A new or existing commercial property (plus additional residential property purchase or rental).
3) Share capital of an existing Cyprus company that employs at least five persons (plus additional residential property purchase or rental).
4) Units of a Cyprus Collective Investment Organization investment fund (plus additional residential property purchase or rental).
Q: Will the Cyprus citizenship automatically grant me European citizenship?
A: Yes. Because Cyprus is a member of the European Union its citizens are automatically European citizens, which means you are allowed to live, work or study anywhere in Europe.Q: As a citizen, am I required to live in Cyprus?
A: No. Cyprus does not require you to be present or reside in Cyprus after approval of your citizenship application.Q: Does Cyprus allow me to keep my original citizenship?
A: Yes. There are no restrictions on dual citizenship in Cyprus.Q: How will new citizens be taxed?
A: Becoming a citizen of Cyprus does not have any tax implications unless you move to the country. Individuals are considered as a tax resident of Cyprus if they spend more than 183 days per year in Cyprus. Tax residents are taxed on all chargeable income that is accrued or derived from any source in Cyprus and abroad. Nontax residents are only taxed on certain income accrued or derived from a source in Cyprus. Any foreign taxes that are paid can be credited against personal income tax liability.Personal tax on income generated in Cyprus is taxed at progressive rates up to 35%. The corporate tax rate is 12.5%.
Q: Can you help me find a real estate agent in Cyprus?
A: Yes. We are associated with licensed real estate agencies and developers in Cyprus and can help you find an ideal property that fulfills the program's real estate investment requirement.Our professional relationships in Cyprus guarantee to our clients a smooth, comprehensive service that includes identifying suitable properties, providing transport for property viewings, drafting/reviewing legal contracts, and/or liaising with local notaries and architects as needed.
When you decide on a property for purchase we can arrange for a Power of Attorney to appear on your behalf without the need for you to come again to Cyprus for the signature of any necessary contracts.
Q: Can you help me with finding a job?
A: Sorry, the immigration by investment programs were developed by the government to attract high net worth individuals, business owners, VIPs and other individuals with the financial means to support themselves and the local economy. Please note: New citizens do not need any work permission; they may work in any of the EU member countries. New residents may apply for a work permit, but would need to find their own employment opportunities.Q: Can you help me get a tourist or a student visa?
A: Sorry, we cannot assist with tourist or student visas. However, if your intent is to file an application for residency or citizenship we may assist with the initial travel visa to schedule an in-person appointment at our offices.Q: What are the major differences among the various immigration by investment programs?
A: The A: The Bulgaria Citizenship by Investment Program offers several investment options starting from EUR 257,000 plus fees for Bulgaria (EU) citizenship and passport after 5 years in residency status.The Cyprus Residency by Investment Program offers options from EUR 300,000 for Cyprus (EU) permanent residency. Residents may apply for citizenship after 7 years in residency status.
The Greece Golden Visa allows non-EU applicants to file for Greece (EU) residency by way of a EUR 250,000 investment in local real estate. The investor may file for Greek citizenship after 7 years of living in Greece at a minimum of 183 days per year.
The Malta Naturalisation for Exceptional Services by Direct Investment regulation provides the applicant with Malta (EU) residency and citizenship for an investment in the amount of EUR 600,000 (36 months residency option) or EUR 750,000 (12 months residency option). Additional are a philanthropic donation, a property purchase or rental, and fees. For applicants who are only seeking Malta (tax) residency or Schengen travel benefits, options start at an annual recurring expense of EUR 15,000 plus property and fees.
The Monaco Residency / Citizenship Program offers Monaco residency to applicants who can prove sufficient accommodations and financial self-sufficiency. The applicant may file for Monaco citizenship after 10 years of permanent residency.
The Portugal Golden Visa Residence Permit Program offers Portugal (EU) permanent residency for a property investment starting from EUR 280,000. Investors may apply for Portugal citizenship after 5 years in residency status.
The Spain Golden Visa offers Spain (EU) residency for a EUR 500,000 minimum investment in real estate, or a EUR 1 Million Euro asset transfer, or a 2 Million Euro securities investment, or the creation of a new government-approved business project. The investor may file for citizenship after 10 years in residency status.
Outside of the EU, citizenship by investment programs include those offered by Canada, the United States of America, and the Caribbean nations of Antigua & Barbuda, St. Kitts & Nevis, Grenada, Dominica, and St. Lucia:
Canada offers several residency by investment options, leading to citizenship if desired, starting at CAD 200,000.
The United States EB-5 Program leads to permanent residency status and citizenship in the United States for a minimum investment of USD 900,000 in a commercial enterprise in the U.S. that generates at least 10 jobs for Americans. After 5 years as a permanent resident the investor may apply for U.S. citizenship.
The Caribbean nations of Antigua & Barbuda, St. Kitts & Nevis, Grenada, Dominica, and St. Lucia offer citizenship programs requiring a real estate investment from USD 200,000 or a non-refundable donation of at least USD 100,000.
Please contact us for a detailed cost estimate or confidential consultation. Our associated attorneys are ready to assist you with attaining your investment objectives and answer any questions you might have about the Cyprus Residency / Citizenship by Investment programs.
Zenturo Ltd.
Residency & Citizenship by Investment Programs WorldwideCyprus Office: Limassol, Nicosia
394A / 395A, Triq il-Kbira San Guzepp
Santa Venera SVR 1016, Malta
Phone: +356 9950 5515
WhatsApp: +356 9991 4125
Telegram: +356 9991 4125
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Skype: Zenturo Ltd. Support
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General Counsel: legal@zenturo.zenturo.com
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