The government recently adopted the Program that guarantee foreign citizens Cypriot passports. There were some changes regarding the requirements to grant one.
- The sum that need to be invested in the country’s economy has been cut in half – from 5 to 2.5 million Euro.
There is one notable exception though – every person that want passport can pass with 2 million Euro minimum in real estate purchase which must be registered as a private residence. Each one must be worth 500,000 Euro or more to qualify for the Program. The following is the additional list of rules for acquiring Cypriot citizenship:
- For at least 500,000 Euro more invested in property, the parents of the applicants can qualify for citizenship
- Applicants can invest up to 500,000 euro in government bonds
- Collective Investment Scheme is no longer available
- The Bank Deposit Alternative is terminated
- Alternative Economic Factors for application are offered
Joining the Programe brings huge advantages on the way of receiving citizenship like:
- Shortened period for approval – 3 months
- The passport comes with full EU citizenship that guarantees permission to study, work and live in the Union
- Applicants can keep their country of origin’s passports, since Cyprus guarantees Dual Citizenship
- New citizens are not require to actually live in the country
- Travelling without visa in 150 countries worldwide
- Investors’ spouse and children (under 28 years) can also qualify for Cypriot citizenship
- Knowledge of Greek language is optional
You can contact Liberty Group’s office for additional information and guidance.