Breaking News: Cyprus – low taxes and fast procedure of approval of residency and citizenship applications make this EU country the favorite destination for investors from third countries

Cypress is not only a preferred tourist destination. The island state offers the fastest possible EU-citizenship, the lowest possible taxes and free trade within the EU for any investor from third countries. Legal Alliance of-counsel attorney in Cyprus can assist effectively, also in finding tailor made investments.

The benefits of the Cyprus program are plenty:

  • Fast procedure. Approval of citizenship application within six months;
  • Simultaneous submission of residency and citizenship applications.
  • No language requirements.
  • Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
  • No obligation to relinquish current nationality.
  • Low tax rates and free trade within the EU.
  • Unrestricted right to live, work and study in Europe.
  • Right to own property in an EU member state.
  • Excellent education system as well as first-rate health care.

Real Estate, Land Development or Infrastructure Project

Applicants may invest at least €2 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.

Purchase, Creation or Participation in Cypriot Businesses or Companies
Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.

Investment in Financial Assets of Cypriot Companies or Organizations
Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three years.

Combination Investment
Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.

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