Citizenship by Investment in Cyprus with a Lawyer
Life in the Mediterranean is truly a welcoming paradise and many international citizens have already made the move to Cyprus. Choosing between the pathways to citizenship in Cyprus might seem daunting and unattainable. However, with its program for citizenship by investment in Cyprus and a lawyer, gaining citizenship on the island is easier than ever.
This week, My Kypros Home covers everything you need to know about gaining citizenship by investment in Cyprus using a lawyer and questions you should be asking to find the right legal aid to help you through the process.
Options for Getting Cypriot Citizenship
In the Republic of Cyprus, the Ministry of Interior has several options for clearing a path to citizenship. Determining the right option for you depends largely on how much time you have spent in Cyprus already as well as your family situation.
Of course, the easiest way to become a citizen of any country is to be born in Cyprus to at least one parent that is a Cypriot citizen. By birth, you are automatically granted citizenship. This also applies if the birth occurred abroad, as long as one parent is a Cypriot citizen.
Another option is to become a citizen through naturalization. Over time, if a person meets certain requirements they may become a Cypriot citizen. To begin, an individual must be over 21 years old and have lived in the country for a period of 7 years.
Those with Cypriot children can apply with reduced time in the country at 5 years. Further, applicants must have a legal and permanent residence in Cyprus for at least one year before the date on their application. Finally, the applicant must demonstrate a clean criminal record and upstanding history with governmental authorities in Cyprus.
If you are married or set to marry a Cypriot citizen, there is the option to become a citizen by marriage. In order to meet the criteria for this type of citizenship, a marriage must demonstrate years of harmonious cohabitation and the non-Cypriot must be a legal resident of Cyprus, having entered the country through the appropriate legal channels.
Finally, for non-Cypriot individuals with no connection to Cyprus previously, the citizenship by investment programme may be the best course of action.
A Program for Citizenship by Investment in Cyprus Using a Lawyer
In 2016, the official Council of Ministers of Cyprus amended the regulations to the so-called “Scheme for Naturalisation of Investors in Cyprus by Exception”. When deciding to get citizenship by investment in Cyprus, you will need a lawyer to meet the terms and conditions error-free.
This program has straightforward avenues to citizenship and has already attracted many investors to Cyprus as the process is a cost-effective solution in the long-term. The growing real estate market and key business industries also make Cyprus an ideal place to invest for wealth growth, with only 6 months needed for applicants to be granted citizenship.
To seek citizenship by investment in Cyprus, a lawyer can help you explore two investment options. The first course is to make an investment in real estate for residential purposes in the amount of 2 million Euros, which may be reduced after 3 years to 500,000 Euros. The other course is to make an alternative investment worth 2 million Euros in other commercial areas while also investing 500,000 Euros in the main residence that an applicant plans to keep for life as a direct link to Cyprus.
With both options, an applicant must invest to some degree in residential properties, with the rental of all properties allowed. Moreover, these investments must be retained for a minimum of 5 years from the date of obtaining Cypriot citizenship.
Other monetary requirements of the Cyprus citizenship by investment program include a donation of 75,000 Euros to the Research and Innovation Foundation, or to a certified innovative or social enterprise. Some exceptions apply depending on the initial investment criteria and a lawyer can assist you with navigating these policies more thoroughly. Another donation of 75,000 Euros must be made to the Cyprus Land Development Corporation.
Included in the application, an applicant must have a clean criminal record and have not been previously rejected for citizenship by any other member-state of the EU. The applicant must possess a valid Schengen visa unless you are a citizen of other EU member states or are a third-country national exempt from entry visas when traveling through the EU.
Other terms and conditions include holding a residency permit in Cyprus for a minimum of at least 6 months before applying. It is important when starting the process of obtaining citizenship by investment in Cyprus with a lawyer to ensure that all the terms and conditions and legal documents are completed with accuracy.
A permanent Cypriot passport for investors and high-net-worth individuals comes with a number of benefits. Included in the list of advantages for having a Cypriot passport are membership in the European Union (EU), visa-free travel to over 113 countries, access to quality education and healthcare institutions, and the possibility of dual citizenship.
Cypriot citizenship is for life and can be transferred to the whole family, the investor’s parents, as well as future generations.
Process to Getting a Schengen Visa
One of the steps in obtaining citizenship through investments is to hold a Schengen visa. There are several visa types with corresponding validity. A Schengen visa allows for free movements by its holder to the whole Schengen Zone and each visa type has different restrictions.
The process to get a Schengen Visa is quite painless and easy. Using a law firm can make the process quicker and ensure that you get the correct type of visa to use for residency and citizenship applications in Cyprus.
Questions Regarding Citizenship by Investment in Cyprus for Lawyers
Selecting the correct law firm to handle your citizenship application in Cyprus can make the difference in completing a successful application that is stress-free.
These are the top 8 questions you should be asking about citizenship by investment Cyprus lawyers:
- What legal specialization does your law firm have with citizenship policy?
- What is your background in residential real estate or commercial investment developments?
- Are you able to provide any references about your past experiences or for me to get a better idea about the process of obtaining Cyprus citizenship by investment?
- Are you currently working with any developers of commercial or real estate projects?
- What is the ROI (return-on-investment) for my investment package and other similar investment projects?
- How much time will my investment contract be valid for? Are the investment contracts good for long-term investment opportunities?
- Will the ROI on my investment be maintained or will it decrease with time?
- What other investment projects have you been involved with and how have they impacted the investors, the market, and the community since?
Together with a real estate agency, your lawyer can make sure you get the most rewarding investment package in Cyprus and set you on the right path to citizenship. My Kypros Home is the partner that can get you the full package, both the real estate agency and the lawyer for your citizenship by investment needs.
Holding a Cypriot passport opens up a world of new possibilities for financial wealth and improved standards of living. Find out the top reasons why so many foreigners are choosing Cyprus as their ideal relocation country. Then explore your options when it comes to getting citizenship by investment using a Cyprus lawyer.
My Kypros Home offers services in exploring citizenship pathways and the right Cyprus location and residential property for you. We can also provide you information on investment projects currently underway in Cyprus in both the real estate and commercial markets and then put you in touch with quality law firms capable of handling your investment needs.
The vibrant island of Cyprus is just a few steps away from being not only the Jewel of the Mediterranean but also a gem in your life. Contact us to start your island journey today and let us enrich your experience.