Immigrating to a new country is often a challenge and it requires going through formalities and applications. However, obtaining Cyprus citizenship requires going through certain processes, but the country has relaxed conditions and allows permanent residency even for non-Europeans. Obtaining the Cyprus passport is required and if you want assistance and consultancy, you can always hire an attorney.
Who would not like to live in a warm and stable climate? Moving to Cyprus at one point in life seems like the best idea and it is. There are many advantages, but individuals that want to obtain Cyprus citizenship are required to go through several formalities. One of the greatest benefits is that once you become a citizen, you and your entire family can live, travel and work within the European Union. Not to mention that you can also buy a property and make an investment in any activity you want. The entire family, spouse and children, will easily obtain citizenship. There are two main options in fulfilling this goal, dealing with the process on your own or hiring attorneys to guide you at every step and make sure you fill in applications correctly. Of course, it is more beneficial to use the services of a law firm, because you can discuss your needs and your current situation and together decide on the best approach. At least in the end you can be certain you took the right decision.
Obtaining the Cyprus passport is possible through the following means: naturalization, citizenship by investing and marriage with a Cypriot. Individuals that qualify for naturalization have been permanent Cypriot residents for seven years or for five years, but they are the child or the parent of a Cypriot. Citizenship by investment is the other possibility implemented by the immigrant investment program, aimed for investors and entrepreneurs. This program has great advantages, requiring less bureaucracy and less time. The idea is to attract foreign investors and encourage high net worth people to live in Cyprus. Investing a minimum amount of €2.000.000 in real estate or development projects is possible. It is allowed to purchase land or plots and developing residential or commercial projects. Business owners can benefit from this opportunity and make a worthy investment within the country. By doing this, they become residents and establish a business.
Another type of investment is available, in Alternative Investment Funds or Cypriot financial assets. The €2.000.000 can be directed towards debentures, AIFs, bonds, and other securities, issued and registered in Cyprus. Applicants can combine several types of investments, as long as the total investment is €2.000.000. It is quite an advantage if you come to think about it, because there are many possibilities and chances to take into account.
Aside from the investment options, preparing the application for citizenship is required. Application forms have to be correctly filled with the necessary information and submitted with other relevant documentation to the immigration authority. Without professional guidance, due diligence is regarded as complex and rather difficult to obtain. On the positive side, there are attorneys that specialize in this area of practice and which assist throughout the entire application process. Especially those who live abroad and are unable to find out what is required exactly are encouraged to seek the services of law firms established in Cyprus.
Personal benefits arise from obtaining the citizenship. The permit is not renewable, but permanent, so there is no worry about expiration date. For families with children, they can attend quality education of British Universities that are established in Cyprus. More than that, medical facilities are top-notch and quality healthcare is provided to all residents. Overall, the quality of life is better and everyone can enjoy living in the warm climate, taking advantage of a calm pace of life. In general, Cyprus has a stable economy and an English-law legal system.
In addition, there are great air connections, so you can easily travel abroad. The cost of living is relatively low and the crime level as well, bringing peace of mind. Businesses can also benefit from the strategic location, the amazing infrastructure and accessibility. Let us not forget about the low corporate tax rates. Those who have permanent residence permits are able to travel to Cyprus without having visa. As seen, there are positive aspects on all plans and if you are considering making a change in your life, you should not hesitate about Cyprus and provide your family a new beginning.