COME TO CYPRUS

Cyprus is a small Island with a big history. In fact, the first references pointing to Cyprus date back to 15th Century B.C. Some historians believe, the name Cyprus came to existence from the Greek word for the Mediterranean Cypress Tree. Yet others believe that the name Cyprus is a derivative of the Greek word for Copper. Since Cyprus was a rich source of copper in antiquity: “Aes Cyprium”, which means "Metal of Cyprus".

With only 9,251 Square Kilometer (3,572 Square Miles) and an estimated population of about 1,171,000, Cyprus is indeed a cozy country.

Cyprus’ geopolitical position in the Middle East has made it the crossroad of numerous cultures and people. While the Island was first settled by the Greeks, it, subsequently, was occupied by several empires such as the Assyrians, Egyptians, Persians, Romans, Arabs, Turks, and the British. Even the French and Venetians left their foot print on this beautiful Island.

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Although, the Republic of Cyprus is still divided into two main parts: the area under the effective control of the Republic, located in the south and west, which is about 59% of the island's total area. The North is administered by the self-declared Turkish Republic of Northern Cyprus, covering about 36% of the island. The remaining 5% of the area is under the United Nation control, as a buffer Zone.

Regardless of its tumultuous history, Cyprus has always allured people by droves and it does so today. With an advanced infrastructure, thriving economy (GDP of about $35,000 Per Capita) and high human development index, the Republic of Cyprus has become an important place for Off Shore Banking and those interested in Dual Citizenship. In other words, Cyprus has become the quickest path to the Greater European Union Citizenship.

NICOSIA

Nicosia is the Capital and Governmental seat of the Republic of Cyprus. With a population of about 330,000, the greater Metropolitan Nicosia is the most populated place in Cyprus.

HUMAN FOOTPRINT

While, Nicosia exudes modernity, its human history runs deep. Archeological records tell the tale of numerous generations of people calling this beautiful city home. In fact, Nicosia has been continuously inhabited for over 4500 years; and it has been the capital of Cyprus for more than a thousand years.
In addition to being the governmental pulse of Cyprus, Nicosia is also the island's financial capital and its main international business center. According to reports, Nicosia was rated one of the richest cities in the world, by purchasing power, in 2015

There are eight universities in Nicosia, including the University of Cyprus (UCY) and the European University of Cyprus (EUC), which gives it a vibrant student community. Nicosia is also the financial and business heart of Cyprus. The city hosts the headquarters of all Cypriot banks, including the Bank of Cyprus.

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As of March 2014, Cyprus laws allow Qualified Non-European Citizens to obtain Cyprus, thus (European) Citizenship, by investing in Cyprus.

CYPRIOT NATIONALITY LAW

The Cypriot Nationality Law dates back to 1967; and there are several ways to obtain Cyprus Citizenship:

MARRIAGE TO A NATIONAL OF CYPRUS

A national of another country can become eligible for Cyprus Citizenship, if he or she legally marries a Cypriot National. Of course, there are some requirements, such as: The couple must be legally married for at least 3 years, and resided in Cyprus for at least 2 years, prior to applying for Citizenship.

Alternatively, if the Cypriot National is living abroad together with the non-citizen spouse, but they have been married for 3 years, the applicant must submit a statement, delineating the reasons why the applicant wishes to become a Cyprus Citizen.

On the other hand, if the couple have been married for 5 years and have at least one child together, then such statement is not required

Here are some of the requirements that the applicant must provide:

  • Birth certificate
  • Abstract of no Criminal Record
  • Marriage Certificate
  • Birth Certificate of the Couple’s Children (if any)
  • Certificate of acquisition of the Cypriot citizenship of the Cypriot spouse (where applicable)
  • Attested Statements of Cohabitation by proper authorities
  • Submission of proper applications, and so on

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CITIZENSHIP BY BIRTH

Cyprus Citizenship Law is based on “Jus Sanguinis”, which is Latin and it means, “For Right of Blood” or “Roots/Origins.” This doctrine is the opposite of “Jus Soli” doctrine, which means “For Right of Soil” or “Place of Birth”: where citizenship is conferred upon someone based on birthplace.

According to the Republic of Cyprus Citizenship Law of 1967, birth of a child in Cyprus only bestows Citizenship entitlement to a child, if at least one of his/her parents were a Cypriot citizen, at the time of birth.

Here are some of the requirements that an applicant must comply with:

  • Present his/her birth certificate
  • Be over 18-years old
  • Must prove Cypriot Origins/Roots (as long as one was born abroad after the 16th of August 1960, with at least one parent, who was a Cypriot Citizen at the time of birth)
  • Marriage certificate of the applicant's parents, and so on

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DUAL CITIZENSHIP

Dual Citizenship is permitted in Cyprus. Thus a Cypriot Citizen can retain and/or obtain Citizenship in another country. Thus a person, who obtains a Cyprus Citizenship does not require to renounce their citizenship in other countries.

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A non-citizen of Cyprus may become eligible to apply for Citizenship through various forms of Investment in Cyprus.

In 2014, the Cyprus Council of Ministers revised the Cypriot Citizenship Laws in order to stimulate the economy by attracting foreign investors. This effort led to creation of Citizenship by Investment, colloquially, known as “The Golden Visa.”

Under this program, successful applicants are given the right to live, work and/or study in Cyprus and the greater European Union.

In fact, Cyprus offers Two Comprehensive and fairly Fast Golden Visa Programs. Here is a brief description of each:

CYPRUS PERMANENT RESIDENCY

Under this platform, Qualified Applicants can obtain their Permanent Residency in Cyprus through Investment. To participate under this program, the applicant must invest €300,000 net in Cypriot Real Estate
The adjudication process takes about 60 days. If approved, the applicant’s family, such as parents of both the main applicant and the spouse plus dependent children up to the age of 25 can be included in one application. Upon approval, the visa is valid for life and can be passed on to dependents and spouse. To qualify under this program, the applicant is not required to physically live in Cyrus; yet, as Cyprus Permanent Residents the whole family can travel throughout the European Union, as long as the Permanent Residents visit Cyprus once every two years.
This investment may be made by a company for which the main applicant and/or spouse are beneficiaries. The investment can be in one or two newly built properties, provided the total investment is €300,000 or more.
Here are some of the requirements that an applicant must meet:

  • Provide an abstract of health
  • Provide an abstract of criminal background check showing clean record
  • Do not work in Cyprus
  • Deposit a minimum amount of €300,000 in a Cypriot Bank
  • Show an annual income of at least €30,000 (if married, it can be the combined income). The income requirement increases by €5,000 for each dependent (children under the age of 18)
  • Purchase a maximum of two new properties (They can be apartments or houses; or one residence one shop; or one residence and one office) valued at a total net amount of €300,000

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CYPRUS CITIZENSHIP BY INVESTMENT (GOLDEN VISA)

Based on conclusive research, it is clear that Cyprus is the Fastest Path to European Citizenship and a highly prized Second Passport for those with sufficient financial means.
Here are the very clear Cypriot Citizenship by Investment Requirements:
a) The Applicant must invest at least €2, 000,000 (Two Million Euro) in qualified investments in Cyprus, which can include:
b) Home/s, Apartments or even Raw Land; as long as a development plan is included in the application.
c) Investment in Cypriot Companies permitted; as long as, the subject company can show a verifiable track-record of doing business

in Cyprus. The company must also show that at least 5 qualified employees, who are either Cyprus Citizens or the European Union Member States’ Citizens, working in the company.

d) The investment capital must be utilized within companies’ activities in Cyprus, in accord with the submitted investment plan.
e) The required Investment can also be made in qualified Cypriot Financial Organizations. Providing such investments are exclusively utilized in the Republic of Cyprus.

f) The Investor can choose a combination assets described above and some qualified Cyprus Government Bonds of up to €500,000.

Please Note: While it is mandated that an Investor must own a private residence valued at a minimum net value of €500,000, in Cyprus; he or she does not need to physically live there. They can rent it out and gain an income. That is because, Cypriot Laws do not require that the Investors reside in Cyprus, in order to qualify for Citizenship. And the Investor can sell all or some of their assets 3 years after they become Citizens of Cyprus.
The €2 million Euro Investment applies to the investor’s family members as well, namely: qualified Spouse or Civil Union Partner, Financially Dependent children up to age 28.

Even the Investor’s parent/s can apply for Cyprus Citizenship. However, they must wait until the Investor obtains his or her citizenship first. The only additional requirement for qualified parents, toward Cyprus Citizenship is that they must own their own home in Cyprus, which is valued at a net value of €500,000 or more.

Moreover, there is no language requirement, medical test or interview for the Citizenship Program.

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Based on Treaty of Maastricht, promulgated in 1992, Citizens of the European Union Member States are also recognized as Citizens of the European Union. As European Union Citizens they have the right to freely travel, live or seek employment throughout EU, subject to certain restrictions.
EU citizens are also free to trade and transport goods, services and capital throughout EU borders, as in national market, with no restrictions on capital movements or duty-fees. They also have the right to vote in and run as candidates in local elections in the country where they live.
Citizenship of the EU also confers the right to consular protection by embassies of other EU member states when a person's country of citizenship is not represented by an embassy or consulate in the country, where they require protection.
EU citizens also have the right to address the European Parliament, European Ombudsman, and EU agencies directly in their own language, given the issue raised is within its jurisdictional power, and so on.

Because Cyprus is a European Union Member State, its citizens are also citizen of the European Union, based on EU law. When in a non-EU country where there is no Cypriot embassy, Cypriot Citizens have the right to get consular protection from the embassy of any other EU country present in that country. Cypriot citizens can live and work in any country within EU.

Moreover, as of 1 January 2017, Cypriot Citizens had visa-free or visa on arrival access to 158 countries and territories, ranking the Cypriot Passport 16th in the world, based on its freedom to travel.

Cyprus, is the third largest Island in the Mediterranean Sea. Due to its strategic Location it has become a natural hub of business, shipping, air routes between Africa, Asia and Europe.
Cyprus also has one of the most attractive tax regimes. In addition to being fully compliant with EU and International regulations, Cyprus has tax treaties with over 48 countries.
Official languages in Cyprus are Greek and Turkish, but English is widely spoken. French, German and Russian are also spoken within the tourism industry.

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