Cyprus and EU Citizenship Through Investment
There are many ways to obtain Cyprus Citizenship (EU citizenship) though investing some of your money into Cyprus economy. Find out how...
Cyprus Residence Permit Details: The Cyprus Residence program is attractive to those that are attracted to the Mediterranean style Greek-island-influence living that Cyprus offers. The Cyprus Residence program is very affordable and easy to comply with and allows for the investor to ultimately become a citizen and passport carrier of that country. Cyprus residence allows for a fairly significant low-tax financial service centre benefits.
The Cyprus Residence Program has been in effect since 2009 and has been modified since. It is achieved through a Visa known as a Category F visa. The Category F Visa allows individuals to benefit from living in Cyprus for at least six years, after which they can apply for citizenship. In order for applications to be approved swiftly and with as little limitations and requirements as possible, the applicant needs to follow the following guidelines:
The applicant needs to make a residential property purchase of no less than €300,000. The property must be purchased for private use.
Bank statement showing deposit in a regent of 30,000 and Regular income demonstrating that the applicant receives income from abroad exceeding €30,000 per year (i.e. showing receipt of an income of at least €2,500 per month). In addition to this applicant must have a Bank guarantee for immigration (€500 – €800 depending on the nationality of applicant)
ORInvestment in Cyprus company and Bank deposit in a Cyprus bank of at least €50,000 as well as regular income from abroad in a regent of 2,500- 3,000 per month
Instead of the usual 2 years or so until you gain residence, we are able to process Category F Visa applications within an accelerated 1 – 3 months.
Cyprus has gained Schengen status; by gaining Cyprus Residence, you would automatically qualify with a Schengen Visa, meaning you can travel to any of the Schengen Counties without the need for a Visa(see below). The holder of the category F Cyprus Residence permit is also allowed to apply for Cyprus Citizenship (and Passport) in the 6th year of residency. In doing so the applicant will also enjoy all the full rights and benefits of any European Citizen of Cyprus.
Conditions of the Category F Visa include a 6 months per year in Cyprus minimum stay requirement. Citizenship through the Category F Visa, conditions of application:
- The applicant should be at least 25 years old; have a clean criminal record from the country of origin and from the Cyprus Police.
- Confirmation that the applicants’ name is not included on the list of persons whose property is ordered to be frozen within the boundaries of the European Union.
- Furthermore, the applicant is required to have a permanent privately owned residence in the Republic of Cyprus, the value of which exceed the amount of €500,000 at the current market prices. It’s important to note that, while the Category F Visa requires a property with the minimum value of €300,000, in order to apply for citizenship the value of the property would need to be at least €500,000.