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ABOUT CYPRUS

CYPRUS Citizenship by EBMC

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ABOUT CYPRUS


Located in the north-eastern part of the Mediterranean Sea and to the south of Turkey, Cyprus is the largest island in the eastern Mediterranean as well as being the third smallest country in the EU, after Malta and Luxembourg. Cyprus is a part of the EU, divided island but the whole of Cyprus is EU territory. Turkish Cypriots are EU citizens as they are citizens of an EU country.

Investors and their families can acquire the Cyprus Citizenship by Investment starting from 2.5 Million Euros for 3 years, on the basis of the Decision by the Council of Ministers of the Republic of Cyprus, March 2014.

Benefits of the Program

  • Naturalization/ EU Passport & Citizenship within 3-4 Months
  • Live, work, and study anywhere in the EU.
  • Investment Guaranteed as it not paid until you receive your passports
  • After 3 years you can sell your investment & maintain a property of €500,000 (Mandatory)
  • Dependent Children up to 28 years can be included.
  • No visits needed nor living there.
  • No language test is required.

Wealthy and healthy country

  • Cyprus is a member of European Union and Eurozone
  • By GDP per capita Cyprus is at the level of rich European countries - ranked 34th in the World (by nominal)
  • Average lifetime - 81 years by women, 78 years by men. Cyprus has a modern and effective Healthcare system

Low taxes

  • One of the lowest corporation taxes in Europe (12.5%)
  • No Capital Gain tax on properties purchased between 16th July 2015 and 31st December 2016.
  • Non-domiciled Cyprus tax residents (i.e. those individuals who have not been tax residents for the last 17 years out of 20) are not subject to dividend tax, taxes on rental income and on bank loan deposit interest generated worldwide and in Cyprus
  • No Inheritance tax

Ease of immigration

  • Investment in Cyprus (€2,0mln) allows to obtain citizenship (EU passport) in Cyprus
  • Property acquisition (€300,000) allows to obtain permanent residence permit in Cyprus

Investment in Real Estate

Such as immovable property, developments and infrastructure projectss. Under this investment plan, the applicant has to invest at least €2 million for the purchase and/or construction, and/or for creation of developments such as commercial projects and/or development on the tourist sector and/or for any other infrastructure projects. However, if the land is eligible for construction, a business plan needs to be presented to the relevant Authorities for approval. The total investment can be minimum of €2 million if at least one residential property is of at least €500,000 (excluding VAT.) The residential property must be kept permanently.

Qualitative English education

  • There are private English schools providing complete cycle of primary and secondary education in all the major cities of Cyprus
  • Private and public education systems are distinguished by high standards, Results of exams taken in Cyprus are accepted by all European universities
  • A number of well-known UK universities (University of Central Lancashire, University of the West of England, University of Kent, others) have their branches in Cyprus in addition to 12 local universities

Safety

Cyprus is among the top 5 safest countries in the world for 2015 and 1st among smaller countries. This is according to a study published on Value Penguin.

The data that they considerd for the study was the population of every country, CO2 emissions life expectancy, the amount of traffic accidents, the water quality and theft, kidnapping and the trafficking of drugs.

Comfortable life

  • One of the lowest crime rates in the European Union
  • 95% of the population of Cyprus speak English and at a high level at that
  • Very friendly population especially towards foreigners. Cyprus is one big family. Foreigners now account for more than 1 in 5 of the population. This is the second rate in Europe (after Luxemburg)
  • Cyprus ranks 5th best destination country for relocation in the world (source: Knightfrank)
  • Advanced Legal system based on English law

Wonderful climate and a healthy environment

  • The only European country where one can swim in the sea in November
  • Sunny days range from 300 to 340 a year
  • In winter average temperature is 15℃ in the daytime and in summer it is 30℃
  • Cyprus population is only 858 000 people. There are no large indutrial enterprises, which could pollute the environment. Car park is modern and uses only petrol/diesel of European quality. As a result Cyprus has clean and healthy environment
  • The greatest number of blue flag beaches per coastal line in the World.

Cyprus Economic Outlook

  • The growth of Cyprus economy amounted to 1.5% in 2015
  • According to IMF forecasts, the Cyprus economy will grow in 2016 by 1.6%. However the real growth in the first quarter of 2016 has exceeded all expectations and was 2.6%. This is the best result among all EU economics
  • The strong growth in the tourist sector observed in 2015 has extended into the first part of 2016. It is expected that more than 2.6mln of tourists will visit Cyprus in 2016. This is a record for Cyprus

Eligibility for Cyprus Citizenship by Investment

To qualify under the regulations, the main applicant for citizenship must be at least 18 years of age and must meet the requirements outlined in this factsheet.

Dependants and Parents are eligible

The main applicant may also add dependants to a citizenship application including his/her spouse and children, as well as parents to benefit under the Cyprus Citizenship by Investment Programme.

"Children" includes those up to the age of 18 and children from the ages of 18-27 if they are financially dependent on the main applicant. Additionally, an investors child with severe physical or mental disability that makes him or her unable to work is also considered as financially dependent.

Parents of the main applicant may be included in the same application provided and additional €500,000 investment is made in residential property in Cyprus.

Key Requirements

  • Purchase main residence; €500,000
  • Invest a minimum of €1.5m in residential property of €2m in other investment options. Investment in property can be reduced to a minimum of €500,000, (plus VAT, if applicable), after 3 years
  • No minimum visit requirement; No physical presence required throughout
  • Clean criminal conduct
  • Investor's name must not be included on the list of persons whose property is ordered to be frozen by the EU

Benefits of the Program

  • Passports are issued within three months
  • No physical residency requirement
  • Passports are issued to the investor, their spouse and dependent children up to age 28, provided they are in full-time education
  • Cyprus allows dual citizenship
  • All nationalities eligible
  • No language requirement, medical test or interview
  • Exit strategy after 3 years
  • Citizenship is passed on by descent, thus offering a lagacy to future generations.
  • No tax consequences, unless you opt to become tax resident in Cyprus
  • Pure investment, no donation required