Cyprus Golden Visa Citizenship Program Explained
Situated south of Turkey, the Republic of Cyprus is the third largest island in the Mediterranean Sea and is a part of the Asian continent yet politically a country of the European region. The capital of Cyprus is Nicosia with the official languages being Greek/Turkish with English spoken around as well. The island is famous for its beautiful beaches, archaeological sites, and wine regions etc. giving people more and more reasons as to wanting to become a citizen of this island of paradise. Apart from the beauty of the land, the safety of the country is also another major plus point in wanting to have a permanent life here. The most highlighting reason as to why people seek citizenship in Cyprus is due to it being the only country in Europe that provides immediate citizenship through investments in real estate requiring only six months receiving citizenship. Investing in real estate in Portugal via application is also possible in receiving citizenship, but this will be secured after 6 years. Receiving a golden visa can be achieved in one of the two methods. Method 1; Cyprus citizenship by investment, Method 2; Cyprus permanent residence program
Method 1 – Through an investment program, Cyprus offers an assured route to European citizenship including a second passport to Cyprus citizenship. In order to get access to this type of golden visa an investment of €2.0 million in real estate should be made. The citizenship will be offered in a matter of 6 months. Not only does the applicant become an EU citizen but also has the freedom to work, study, travel and live anywhere within the EU in countries such as Germany, France, and the United Kingdom. It also gives the applicant the chance for a Cyprus company formation and carry out his/her business. The investment is said to be minimized to €500,000 after around 3 years.
Method 2 – Citizenship can be granted through investments made in real estate. Just a matter of €300,000 needed to be invested to gain residency permit. This is considered to be one of the most easiest and fast visa programs in the European region. It is granted within 2 months giving access for the whole family including parents of the applicant, spouse and children up to the age of 25. This is valid for life and can be passed down to the individuals inheriting one’s possessions.