Britain is leaving EU that doesn’t imply you have to too. There are many countries in EU that are worth fighting for the citizenship such as – Austria, Belgium, Portugal, Spain, Cyprus and many more. There are many reasons why Cyprus easily win this battle. In this article know why Cyprus – an EU country has the easiest citizenship requirements.
Cyprus is welcoming and accommodating- Immigrants welcome
From numerous European nations from which many investors and wealthy individuals choose to obtain second or global citizenship, Cyprus is by far the easiest and fastest. There are many reasons why Cyprus easily wins this battle. Also, there are some specific reasons as to why Cyprus is so welcoming & accommodating, so we would explore these factors and explain the fastest way of achieving Cyprus citizenship.
Cyprus Citizenship Requirements and Conditions- It makes Cyprus an attraction Option to Immigrate
The following conditions should be satisfied for the straightforward program which is open to individuals, and their family members:
- Having a clean criminal record is a must.
- Minimum investment of €5 million in state selected bonds, financial assets in a Cypriot organization, approved real estate or infrastructure projects, or a start-up giving employment to at least 5 Cypriot nationals. (In case of an approved co-operative project this required investment may be halved)
- A deposit of €5 million in a Cypriot bank and holding that investment for 3 years is a good alternative for all above-said investments.
Benefits of Cypriot Citizenship-Cyprus style luxury living
There are some driving factors so as to why high net worth individuals choose Cyprus:-
Lying at the crossroads of Africa, Asia & of course EU makes it a perfect business destination. Measures taken by Cyprus government to establish a very attractive & taxation regime have seen intense foreign investment flown into this country for past few years. Not to forget country’s multilingual, well-educated and friendly workforce. With no restriction on repatriation of profits, it’s citizen’s enjoy low corporate tax rate, no wealth, inheritance or capital gain taxes.
In addition to these above-said benefits, it is a member of the 28-nation European Union, so all the passport holders are also entitled to the advantages of European citizenship. There is no imposition of physical residency on global citizens; therefore, you may settle and base your businesses in any EU member country.
An added advantage is it’s royal real estate market. Approximately there are 25 large-scale development and investment opportunities, which includes the fabulous Del Mar and ONE in Limassol, in which you can invest, both to achieve citizenship and enjoy Cyprus style luxury living.
The Cyprus Citizenship Application Process
Applying is very simple, straightforward, and speedy. It involves following steps:
- Applicants whose having a family (their spouses and children (under 29 years of age) can submit the required paperwork to the Cypriot Ministries of Interior and Finance, through their immigration representative,
- The Council of Ministers gives their decision within 3 months from the application and then a Certificate of Naturalization is issued.
- The successful applicants then have to visit Cyprus for the Oath of Allegiance, and within another 2 business days, they would receive their Cyprus passports.
Conclusion – Cyprus first choice for Immigration
The convenience and time taken for the applicants and their family members may become citizens of Cyprus makes it the first choice for many high investors and foreign nationals. Country’s luxury living topped with well-educated and friendly workforce also makes it a good destination to settle any business.