Key highlights of the Cyprus Citizenship by Investment program

Key highlights of the Cyprus Citizenship by Investment program

The Government of Cyprus in an effort to enhance the competitiveness of Cyprus and to provide even more attractive incentives to Foreign Investors / Entrepreneurs, implemented major changes in the “Scheme for Naturalization of Investors in Cyprus by exception” (on the basis of the Civil Registry Laws 2002-2015).

The new financial criteria introduced are even more favorable than before with the minimum necessary amount of investment having been reduced from €2.5 million to €2 million.

The new scheme offers:

• A straightforward route to EU citizenship
• No requirement to make a donation to the local government
• No language requirement, medical test or interview
• All the privileges of an EU citizen. EU citizens enjoy the right to reside, work, do business, study and travel freely within the EU, while enjoying equal treatment with nationals in access to employment, working conditions and all other social and tax advantages
• Protection by EU legislation and regulations
• Visa-free travel to more than 150 countries in the world, including all the European Union countries, Canada and Australia amongst others
• Dual-citizenship is allowed
• Wide choice of investment means the ability to invest directly in real estate or other assets of one’s choice or to combine allowable investments
• Combination of tax incentives for investors who were granted the citizenship
• By obtaining Cyprus citizenship and passport one does not automatically become tax resident of Cyprus, unless he spends more than 183 days in the country in one calendar year
• The Cypriot personal income tax regime, through the 2015 introduction of the “non-domicile” concept, is now widely considered as the most attractive onshore personal income tax regime in the world
• Comprehensive double tax treaties network that offers an effective tool for international tax planning
• Strategic geographical location, forming a bridge between the EU, the Middle East and North Africa with direct access to the Mediterranean Sea
• Cyprus offers a great place to live, offers excellent worldwide communications, has excellent infrastructure, and a pleasant climate
• Among Europe’s top vacation destinations