Time To Citizenship
- Cyprus Country profile
- Benefits of the program
- Investment requirements
- Visa-free and visa-on-arrival country list
GDP – Per Capita (2016):
GDP – Total (2016):
1 USD = 0.86 EUR
USD 19.8 billion
Boasting a rich and diverse culture, Cyprus offers investors a safe and stable environment which is ideal for raising families. At the crossroads of Europe, Asia, Africa and the Middle East, Cyprus is the perfect setting for global travel. An important member of the European Union, it is also an active member of the British Commonwealth. The Cyprus Citizenship by Investment Program is ideal for business and investment purposes recognising numerous investment opportunities for investors.
- Officially known as the Republic of Cyprus, the nation has a population of 1.1 million.
- Cyprus became a member of the European Union in 2004 and the British Commonwealth in 1961.
- In 2008 the country adopted the euro, becoming part of the Eurozone currency union.
- With a GDP of $28,000 per capita, the country is an advanced, high-income economy with a very high score on the Human Development Index.
- Cyprus boasts an established off-shore banking sector plus the lowest corporation taxes in the EU making for attractive international tax planning possibilities, plus many tax exemptions exist for non-residents with free trade within the European Union
- The Island has signed double taxation treaties with 43 countries. The legal system is based primarily on English Common Law.
- English is widely spoken and understood in business and everyday life.
- Offering a warm Mediterranean climate, the island has over 340 days of sunshine per year.
- An excellent education system with high standard schools and universities and first-rate healthcare;
- Tourism, financial services and shipping contribute significantly to the economy, and recently offshore gas fields have been discovered.
- Real Estate yields and prices are rebounding strongly since reaching historical low price points during the global financial crisis.
The Cyprus Citizenship Program is now one of the fastest in Europe and is pursuant to the “Scheme for Naturalisation of Investors in Cyprus by Exception” on the basis of Section 111A (2) of the Civil Registry Laws of 2002-2013, based on a Council of Ministers decision dated 19th March 2014. On 24 May 2013, Pursuant to subsection (2) of section 111A of the Civil Registry Laws of 2002-2013. In virtue of this law, the Cyprus Council of Ministers may grant citizenship by naturalization to foreign entrepreneurs. Therefore, enforcing favourable immigration policies and further fostering a way of obtaining Cyprus Citizenship by Investment. The new regulations simplify the entire procedure in both time and formalities.
Additionally, the law provides for the granting of the Cypriot citizenship to the spouse as well as financially dependent adult children of the investor. Neither the spouse nor the children are obliged to meet any additional financial criteria.