What is the Cyprus Investment Residency Program
This program can be summarized in the following manner.
• You will need to own a private residence in Cyprus, which must be worth more than 500.000 Euros (this amount excludes VAT).
• All applicants must have a completely clear criminal record from the country that they come from.
• All applicants must have made at least one visit to Cyprus.
Cyprus Investment Residency Program
• Applicants will need to apply for citizenship and passports program (designed to strengthen the real estate market and the economy).
• The application includes all members of the family (main applicant, spouse and dependent children).
• The right to move freely within the EU has got to be the most desirable advantage of having this citizenship.
• Being a citizen means that you and your children may in fact study at Grade school as well as Cyprus universities. You will also be entitled to study at any European university, just like the local nationals can.
• Applicants will need to have a valid passport.
• Be a business person with assets and a good reputation.
• Applicants must have secured international income in order to be able to live a comfortable life with their families in Cyprus. Applicants may not work in Cyprus though.
• There are no strict rules regarding management experience, education, language or net worth requirements.
• Applicants must pass a medical and security background check.
Step 1 of the Application Process
• The application forms, fees and supporting documents need to be submitted for processing.
• The applicant needs to visit Cyprus in order to arrange to purchase a property.
• Confederation’s Cyprus lawyer will then submit the application to the Government of Cyprus.
• Once you have received preliminary approval, the lawyer will complete the purchase transaction.
• This process will take anywhere from 6-8 months to come to conclusion.
Step 2 of the Application Process
• The family of the applicant needs to maintain permanent residency for a period of 5 years.
• The lawyer will then submit the application for citizenship/naturalization to the Government.
• The applicant will need to prove that he does in fact still own property in Cyprus, have bank accounts and sufficient international income to continue the stand of living that is required of him.
• The process of obtaining Citizenship/Naturalization will take between 14 1nd 15 months.
• The lawyer will then apply for passports for the whole family.
• Having Cyprus passports will allow the whole family to be able to travel, work and live throughout the EU.