Cyprus EU Citizenship By Investment

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Herbert Hodge
5 years ago
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1 Cyprus EU Citizenship By Investment

CYPRUS EU CITIZENSHIP BY INVESTMENT Cyprus became a member of the European Union in May 2004 and joined the EU Monetary Union in 2008 Cyprus has a stable legal and tax system Visa free travel to more

2 CYPRUS EU CITIZENSHIP BY INVESTMENT Cyprus became a member of the European Union in May 2004 and joined the EU Monetary Union in 2008 Cyprus has a stable legal and tax system Visa free travel to more than 159 countries An island with long history and culture Freedom to live, work and travel anywhere in the EU EU citizens can access all first-class EU health care systems EU citizens have the right to protection by the diplomatic or consular authorities of any EU country in a third country (country outside the EU) where your home EU country is not represented by a consular

3 BUSINESS & TAXATION Has one of the lowest corporate tax rate in Europe of 12.5% Is established as a reputable international commerce centre, the ideal bridge between East and West No transfer fees for property transfers if the transaction is subject to VAT, if not, 50% reduction of the transfer fees for all transfers Tax system is in full compliance with EU and OECD requirements against harmful practices 0% Inheritance Tax Favourable VAT rates for private yachts and aircrafts as low as 2.42% and 4.37% respectively Tax incentives for purchasing or developing real estate 0% withholding tax or any type of payments made anywhere in the world No capital gains tax imposition of shares unless related to immovable property situated in Cyprus Profits from the sale of securities are exempt No Immovable Property Tax as from 2017 Extensive number of Double Tax Treaties (DTTs) Tax paid abroad can be credited against any tax payable in Cyprus on such income, irrespective of any Double Tax Treaty INVESTMENT OPPORTUNITIES The Cyprus ship registry being the 10 th largest in the world Information & Communication Technologies expansion is continuing 20% of the world s third-party ship management take place from Cyprus Infrastructure two multi purpose deep sea ports, two international airports and modern road network connecting all cities Modern free market economy with favourable business climate

4 BENEFITS OF DUAL CITIZENSHIP Visa free Travel: Cyprus Citizenship offers you the opportunity to travel to more than 159 countries without the requirement of obtaining a visa. Mobility: you have the choice to relocate at any time if there is a desire to do so. Globalisation: Cyprus is a secure place to be considered as Plan B for investor s life and their families. Independence: become more independent with a second citizenship and a European passport. APPLICATION CRITERIA Clean criminal record. The investor must maintain a residential property in Cyprus of at least plus VAT (may not apply under certain circumstances). Any property acquired in Cyprus within 3 years prior to the submission of the citizenship application will be eligible to satisfy the investment criterion. No requirement to be physically present in Cyprus. Holder of a residence permit in Cyprus, prior to his/her naturalization as a Cypriot citizen. If the applicant does not already hold a residence permit, he/she may simultaneously, upon the submission of naturalization, apply for immigration permit. Who is Eligible Any investor above 18 years old Spouse and financially dependent children of the investor up to 28 years old Parents of the investor, subject only to acquiring residential property of at least 500,000 plus VAT

5 Investment Options Type Requirement Amount Period 1.Investment in residential and/or commercial property or The total investment should be at least 2 million for the purchase or construction of buildings (residential infrastructure projects or commercial developments, developments in the tourism sector). Investment in land which is under development is included, and an investment plan for the development of the land will be included in the application. 2.Investment in financial assets of Cypriot companies or organisations The applicant must have invested at least 2 million in purchasing or participant in companies or organisations that have been established and operate in Cyprus. The company or organization must have physical presence in Cyprus, with significant activity and turnover and employ at least 5 Cypriot or citizens of European Union memberstates. 3. Investment in alternative investment funds (AIF) or Financial Assets of Cyprus companies or organizations that are licensed by the Cyprus Securities Exchange Commission (CYSEC). The applicant must have invested at least 2 million in purchasing units from AIFs established in Cyprus, licensed and supervised by CYSEC and whose investments are made exclusively in Cyprus. The investments by these AIFs must either meet the criteria of this scheme or must be in areas approved by the Minister of Finance of the Republic of Cyprus. The applicant is required to have a combination of the abovementioned criteria 1-3 provided that the total investment will amount up to at least 2 million.

6 4. Combination of the above mentioned criteria The applicant may invest up to 500,000 in government bonds of Cyprus, which are issued for this purpose by the Public Debt of Management Office of the Ministry of Finance and retain these bonds for at least 3 years, commencing from the date of obtaining the naturalization.

OBTAINING CYPRIOT CITIZENSHIP BY INVESTMENT

OBTAINING CYPRIOT CITIZENSHIP BY INVESTMENT An increasing amount of non-eu citizens are obtaining Cypriot citizenship which enables them to become full EU citizens with the right to work and reside anywhere