Besides the bright sunshine, the never-ending swimming, the captivating seabed, the opportunity to ski & swim on the same day, this post will offer you with more reasons that make a property purchase in Cyprus a must for every real estate investor.
Energy:
Cyprus boasts one of the most strategical crossroads in the globe, subjugating the intersections of important cosmopolitan energy routes. In addition, the latest discovery of massive gas and oil resources inside Cyprus’ Exclusive Economic Zone, and the appraisal of equally significant hydrocarbon supplies at the west of the islet has grabbed the interest of global investors that believe the Island has a really promising future.
Member of the EU (European Union):
Cyprus has been the member of the EU since 2004, and everything, from its law making to each public service were quickly affiliated to the European standards, making life & adaption for people from other EU states much simpler.
Cyprus citizenship & permanent residence:
Another considerably recent evolution has made Cyprus even more attractive to overseas investors. The new laws have allowed investors to get Cyprus citizenship or permanent residence much faster and easier.
These programs have exhibited more results than anticipated, primarily due to the easy processes that make citizenship consent a matter of no more than three months.
Specifically, overseas investors can attain Cypriot citizenship if they fulfill specific monetary criteria, including:
- Investment in land development, real-estate and infrastructure projects that value at least €2m.
- Investment in monetary assets of Cypriot organisations that value at least €2m.
- Investment in AIFs ( Alternative Investment Funds) or monetary assets of Cypriot organizations that value at least €2m.
The program applies to the immediate family of the applicant (spouse or partner, minor and adult financially dependent children up to the age 28, provided they are university students).The investor’s parents may also apply for citizenship after the investor has acquired his/her citizenship, provided that they are owners of a private residence of at least €500,000 (+VAT).The investor and his/her parents may collectively acquire one residential property of a total value of at least €1m (+VAT). All family associates fulfilling these criterion obtain a Cyprus Passport & all the rights of a European Union citizen, encompassing free travel visa and the luxury to live & make an investment in any state – member of the EU.
Overseas investors who purchase property in Cyprus value no less than €300.000 & show a secure and stable annual earning originating on a regular basis from abroad, are entitled to apply for permanent residence. The appropriate permit provides investors & their households visa-free trip to Cyprus, hence permitting investors to have a second home in Europe.
If you are looking for more information regarding Obtaining Cyprus Citizenship by Investment, get in touch with Chris Michel Property Group. We assure to help you with the entire process. You can also e-mail us your query at info@chris-michael.com.cy.
