Citizenship in Europe: How to get a Passport for Investment.
Investment citizenship is arguably the most interesting program to invest in with respect to international tax planning and family wealth management. In today's world, security and opportunity are paramount. Everyone wonders where it will affect and how it will affect their children's future.
The Republic of Cyprus has established a series of incentives to attract foreign direct investment. One of them is the Exception Naturalization Program, which grants full Cypriot citizenship to those who invite to the agreement with the following minimum requirements:
(i) € 2 million in Cypriot real estate (primary residence); or
(ii) € 2 million (combination of investments, business in Cyprus, housing, etc.),
including € 500 thousand in a residence; or
(iii) € 2 million in an investment fund authorized and regulated by CySEC, together with an additional investment of € 500 million in a residence.
Regarding the above options, a CBI applicant must also:
(i) Maintain the initial purchase of real estate for a minimum of 5 years (thereafter, the program requires in all cases a lifetime investment of 500 million euros in a primary residence);
(ii) Contribute € 75 million and € 75 million in an IT startup; and
(iii) Have a Schengen visa before applying.
Cypriot naturalization grants rights such as the right to travel, reside, study and work freely within the twenty-seven (27) countries that currently have access to the European Union. It also recognizes enhanced rights and services for the United Kingdom (Liechtenstein, Iceland, Norway and Switzerland). The movement of services, capital and goods can be freely transferred between the Member States of the European Union.
The granting of Cypriot citizenship may also include members of the immediate family (including parents) of the main applicant, provided that certain requirements are met.
Any non-Cypriot citizen can apply for Cypriot citizenship through the Exception Naturalization Program if he meets one of the investment criteria specified in the law. The rating can be done in person or through a company / companies in which the applicant acts as a shareholder or even as a senior manager.
Citizens of the Republic of Cyprus enjoy the possibility of visa-free travel to 174 countries around the world.
INVESTMENT ONLY IN REAL ESTATE
With regard to real estate, there are several different options in Cyprus for those seeking citizenship. A residential / holiday home is typically purchased (minimum € 2 million required). There are also commercial office buildings for sale that have rental income.
Please note that although the investor may sell such real estate at the end of the mandatory 5-year retention period, he is required to maintain a € 500 million investment in a residence for life. Therefore, only 1.5 million euros can be recovered from the initial investment (presumably with a profit).
Depending on the risk profile and the interest of the client, we can provide options, since we have a specific group that focuses on the supply and completion of real estate.