The tourist towns of Pafos and Agia Napa often witness significant fluctuations in population between summer and winter months. There is also visa-free access to almost 171 countries. Feature your writing on Cyprus.com! The following documents are needed to obtain an Immigration Permit: Investors are free to choose where to invest from a large set of property options, including: IRINIKO 2017. Required documents include: Applicant's birth certificate Certification of clean criminal record Marriage certificate Statement of peaceful cohabitation signed before an Officer of the Administration (or diplomatic authority) Statement of cohabitation from the local authorities Photocopy of receipt totalling of 300 euros paid in fees However for travellers under 15 years old, relief is 175. The first thing you must comply within Cyprus citizenship by investment requirements is the lock-in residency. . Become Naturalized 10 litres of spirits And this makes it possible to freely live and work in EU countries, receive quality education and medical care, and enter more than 150 countries around the world without a visa. Applicants must meet predefined Cyprus citizenship requirements with regards to investment thresholds and personal conduct as outlined here to be eligible for citizenship by investment, according to the department of cyprus. 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. animals, birds, fowls, lizards, cactus, hides, ivory, etc. We are building the largest and most comprehensive portal about the island of Cyprus. Applicants must further make investments of at least 2 million to fulfill the foreign direct investment criteria established by the Council of Ministers in exchange of Cypriot citizenship. As a foreign national, the first major criterion is to own a residential home in Cyprus worth 500,000, before being eligible to apply for citizenship. Personal income in Cyprus is taxed on a tiered basis with quite an essential tax-free allowance of 19,500. The global tax system is changing and the trend is towards global tax harmonization. The main applicants spouse and children, who are financially dependent on the applicant, are also considered for citizenship. Subsequently, the applicant can acquire a Cypriot passport and Identity Card. [M125] - Application to register as a citizen of the Republic of Cyprus, a person who is a widowed spouse of a citizen of the Republic or was the spouse of a person who would have been granted or had the right to the citizenship of Cyprus, had he/she had not been deceased (in Greek only) (if applicants proceed with the real estate investment option, this property can be included in the . The world we live in today is a globalized place, and the demand to live, work, study and invest abroad is on the increase. A lawyer can book an appointment for you and accompany you to help you apply for this permit. Residence in the Republic of Cyprus: In all cases listed in Part A, the applicant must hold a permanent privately-owned residence in the Republic of Cyprus, the purchase price of which must be at least 500.000, plus V.A.T. Traveller Advice Regarding the Turkish Occupied Areas of the Republic of Cyprus Persons with creative abilities. Those born abroad on or after August 16, 1960 to at least one Cypriot parent also acquire citizenship at birth, except for those born between August 16, 1960 and 1999 to a Cypriot mother. Taken in front of a white background without any patterns. The director of a Cyprus company cannot be shareholder of that company. For now, holders of a Cypriot passport have Visa-free access to 175 countries. [citation needed] Contents 1 Viewpoint of the Republic of Cyprus VAT and duty are included in the price you pay and, since these vary from country to country, you may want to take advantage of some attractive price differences. Goods of precious metals destined for the Cyprus market Cyprus offers a large number of tax exemptions to foreigners who decide to settle in this country. Cypriot law differentiates between 5 types of visas, depending on the type of visit which is made in the State: Short-stay visas; Long-stay visas; Airport transport visas; Transit visas Knives, daggers, air-rifles, hunting weapons and other illegal and dangerous weapons; their components and ammunition Flick knives and daggers. Admission and Transit Restrictions 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. 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 Entry regulations apply only to the areas controlled by the Government of the Republic of Cyprus. Such funds must be established in the Republic of Cyprus and must be licensed and supervised by the Cyprus Securities and Exchange Commission. The so-called TRNC has been condemned and declared as both illegal and invalid by the whole of the International Community through Security Council Resolutions 541/83 and 550/84. The person was required to have his or her residence in Cyprus and have a residential property with a value of minimum EUR 500,000. Once obtained, such a citizenship is relevant for life for the applicant as well as his dependents. Your commercial status and the reasons for holding such goods The legal ports of entry into the Republic of Cyprus are the airports of Larnaka (Larnaca) and Pafos (Paphos) and the ports of Larnaka (Larnaca), Lemesos (Limassol), Latsi and Pafos (Paphos), which are situated in the area under the effective control of the Government of the Republic of Cyprus. Wild fauna and flora, endangered by extinction and products thereof (Washington Convention CITES), e.g. You must make a 30,000 deposit into a bank in Cyprus. All other relevant documents with reference to financial investments undertaken by the applicant as per the 2 million mandated by Cypriot Council of Ministers. A tender was also floated to select organizations providing due diligence. It is prudent to note the following precautions: Staying in Greek Cypriot owned hotels in the occupied areas, which are being illegally exploited, would put you at great risk of possible legal action on the part of the owners. The investment options are as follows: Regardless of which option is chosen, the applicant must attach a residence address in Cyprus, either an owned or rented dwelling. Wealthy investors who deposit a sum of 2.2 million into the country are granted full Cypriot citizenship after meeting other requirements. For guidance, goods are considered to be for your own use if you have no more than: Purchase of a participation in a local investment fund, but the requirement is that it be a collective investment fund (OICVM). Have one of our authorized partner advisors contact you today. Therefore, foreigners moving to this country apply for the non-domiciled regime whereby the individual is generally taxed on income generated in Cyprus. Copy of the applicants (and applicants parents) passports non dom, for high net worth individuals, which requires proving that they have a monthly income of more than 6,000. 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. The application needs to be accompanied by all relevant documents including birth certificate of the child, form M126 complete in all respects, copy of the childs and parents passport and written consent of the non-Cypriot parent. Individuals who are required to obtain an entry visa when visiting Cyprus will need to take note of the current visa-system in Cyprus. The following criteria outline the Cyprus citizenship requirements which an applicant must fulfill to obtain citizenship by investment. Such companies must also have a physical presence in the country in the form of offices that employ at least 5 Cypriot nationals. * Applicants should buy property in Cyprus with a minimum value of 500,000, to be held in perpetuity. Fast-track process You will receive a European passport for yourself and your family in 3-6 months. 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. 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. 200 cigars Cyprus Visa Requirements. In cases of applicants who are children or parents of . Are you a foodie, a travelholic, or like to share your experiences? Copy of payment done to the property seller in the form of, for example, wire transfer to a Cypriot banking institution. If a person has Cypriot origins, then they must be over 18. The program requires an investment of 2M in residential real estate, an investment which must be retained for a period of five years . a foreign national with no cypriot origins may become a citizen of the country by investment - after having fulfilled the requirements of the cyprus investment programme, an official citizenship by investment programme that gives high-net-worth individuals the opportunity to be naturalised in cyprus within 6 months in return for investing 2 Cyprus Citizenship by Investment You can also find visa exemptions and useful tips from fellow travellers. The applicant may proceed with a combination of the above investments, provided that the total investment will amount up to a minimum of 2 million. In AIF of companies licensed by Cyprus Securities and Exchange Commission, Proof of birth in the form of Birth Certificate, A copy of a valid current citizenship passport, Certificate of Clean Criminal Record to indicate good character from the country of origin and the country of residence, Copy of Marriage Certificate/Civil Partnership Certificate, Updated M127 application form to be obtained from Civil Registry and Migration Department. It is the only direct citizenship program in Europe offering such a simple way of obtaining dual citizenship without residency requirements, with an investment minimum of 2,200,000. You may retain citizenship in your home country: Cyprus allows dual citizenship. Subscribe to our newsletter and never miss an update, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Building Maintenance, Renovations & Repairs, http://eeas.europa.eu/cfsp/sanctions/docs/measures_en.pdf, 4 Wonderful Cyprus Boutique Wineries You Should Visit, The New Cyprus.com: What You Need to Know. The applicant should have bought units for a minimum of 2 million from alternative investment funds (AIF). Since Cyprus is an EU country and is part of the Schengen Area, investors and their family members holding permanent residence permits can move freely in Europe without the need to apply for a cumbersome visa. 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 primary law governing nationality regulations is the Republic of Cyprus Citizenship Law, 1967, which came into force on 28 July 1967. A majority of the Cyprus population speaks English, and course lectures are in that language as well. For the sake of clarity, the Cyprus Investment Programme (CIP), as it's officially referred to, has been cancelled, and not simply suspended, as some media have incorrectly reported. In any case, the applicant must have resided legally . The two Cypriot immigration investment schemes are fast and efficient at granting a residency permit and second passport. Cyprus Citizenship by Investment Requirements Residence Requirement. Rules became tougher and now besides the original investment of 2 million, you need to donate an additional 150 000 EUR. Laissez-Passer issued by the United Nations. Applicants birth certificate Applicants who are . The citizenship is also transferred to the applicants direct descendants. Further detailed information can be obtained from the Ministry of Foreign Affairs. Any individual or legal entity may be appointed as director of Cyprus company. You must prove you purchased the property with funds acquired outside Cyprus You must have an annual income of at least 30,000, which you receive from outside sources You must deposit 30,000 in a Cypriot bank, where it will be frozen for three years, after which time you will have access to it again. Requirements for Cyprus visa. Permanent residence permits in Cyprus have categories and requirements exist for each category as follows: - the first category is for people that have a bank account in a Cypriot bank, a real estate purchase contract and annual income of at least 9,600 EUR for each member of the family; Additionally, as regards the restrictive measures/ sanctions (embargoes) against goods, individuals, entities and organizations by specific countries, you are informed that this provides traceability through the following (EC) website: http://eeas.europa.eu/cfsp/sanctions/docs/measures_en.pdf. 3. One for permanent residency and one for citizenship. The Cyprus citizenship by investment program requires a minimum investment of 2 million into the country's real estate industry - 2.2 million via a combination of both real estate and/or investments. Read the Cypriot government guidance on visas. Protestant or Anglican (2%) 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. REAL ESTATE INVESTMENT Real Estate investment could be commercial, residential, land or a combination of all of these. If you are interested in changing your tax residence to this country, please write to us using the contact form or to [emailprotected]. Shops at airports and on ships may also provide some bargains, although duty-free shopping no longer exists when travelling within the EU. The frequency of your travel. New residential properties and commercial properties such as offices and hotels (new or resale). The Cyprus permanent residency program allow applicants to live in Cyprus indefinitely and lifts traveling restrictions and elaborate visa requirements across the EU. The acquisition of Citizenship and the issuing of a Cypriot passport generally follow after an application is deemed to have fulfilled the Cyprus passport requirements and thus approved. Cyprus citizenship by investment is undoubtedly the fastest and most affordable route to getting EU citizenship. Regulations apply to the entire island of Cyprus, which includes the Republic of Cyprus itself and the Turkish Republic of Northern Cyprus (TRNC), a breakaway state in the island's north. 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. 1447 Lefkosia Upon their arrival in Cyprus, such products should be declared at the Customs Offices, whereupon they will be kept for phytosanitary inspection by Authorised Agricultural Officers. The applicant needs to undertake the following mandatory investments: In addition, an investment of 2 million (plus VAT) should be made in either of the following ways: a. Yes, foreigners can buy a property in North Cyprus. A passport is required by all travellers, except for holders of: Application for a Cyprus Permanent Residency Permit (PRP) can be the first step towards gaining Cyprus Citizenship; If a Cyprus tax resident, the PRP holder is exempt from tax on worldwide dividends and interest income for a period of 17 years. 110 litres of beer, If you carry large quantities of tobacco or alcoholic products and particularly where such quantities exceed the quantitative limits set as above you may be asked to answer to questions regarding: To qualify for permanent residency through the investment-based residency program, the applicant must make a minimum investment of 300,000 (excluding VAT) and must use income from outside Cyprus. 400 cigarillos Applicants parents marriage certificate This threshold was then brought down to 3 million during the global financial crisis. Cyprus allows dual citizenship, permitting you to keep your existing nationality. It should be signed before a registrar of a Cypriot court or consular office, Copy of Cyprus Residence Permit valid for 6 months if available. passport; ID card; Driving license) Parents' Republic of Cyprus documentation ( i.e. Children and young people Choose Your Investment Route Select your investment route, ensuring all investments meet the total sum and fulfill all requirements. For further information please contact:www.mof.gov.cy, The content of this article was kindly provided by the Cyprus Tourism Organization. These investments can be in the form of bonds, bills, and securities, issued by the companies with approval from the Cyprus Securities and Exchange Commission. Investment in Alternative Investment Funds or Financial Assets of Cypriot Companies or Organizations Prev Insight UK Graduate Trainee Visa: Expert Guide 2022. Such documents may include but are not limited to the below: Copy of sale agreement, proof of registration, and proof of payment to a Cypriot nationalized financial institution, for residential investment, Copy of the investment plan document, unit declaration document, and confirmation document by Cypriot Securities and Exchange Commission, for investments in alternative investment funds, Copy of the employment contracts of Cypriot nationals employed in the company wherein the applicant is a shareholder by purchase, for the establishment of participation, Applicants should not have been previously rejected for citizenship by another EU member country, The investment should be maintained for 5 years following the date of citizenship being granted, as opposed to the earlier requirement of 3 years. If the applicant is a high-ranking senior manager in a Cypriot company, he must earn a salary generating tax revenue of 100,000 for the country and this tax should be pre-paid in full. 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.
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