Often referred to as the leading EU Golden Passport Programme, the Cyprus CBI programme is one of the worlds’ leading investment citizenship programmes, and with good reason: In addition to giving applicants access to one of the world’s most powerful travel documents and EU citizenship rights, Cyprus is also considered a highly attractive property investment destination by discerning real estate investors worldwide.

The CCBI scheme is widely credited as having helped the country recover from the last financial crisis.

LEGAL BASIS: The Cypriot Investment Passport Programme draws its legal basis from Sub-section 2 of Section 111A of the Civil Registry Laws (2002 to 2019), approved by the Cypriot Counccil of Ministers in September 2016, and subsequently amended in February 2019.

As of the beginning of 2019, the ability to obtain Cypriot citizenship through naturalisation by exception is a closing window of opportunity. Brussels is coming under pressure to curb EU nations’ ability to issue citizenship to third country nationals with to curb potential money laundering risks and programme abuses, thus appeasing concerns from EU nations who do not offer citizenship by investment or investment residency programmes.

The rise of nationalistic forces within Europe looks set to increase the pressure on countries offering such programmes, and it looks likely that countries offering CIP programmes will be forced to introduce volume caps, higher investment thresholds and more onerous application requirements in the near future.

EU Citizenship: Being a Schengen member state, Cyprus Citizenship gives you the ability to legally live, work, study or retire anywhere within the European Union, including countries such as France, Germany and the UK. 

Attractive tax regime: The country is the tax residency jurisdiction of choice for high net worth individuals and companies alike. Property is acquired on a freehold basis, with the VAT rate on property being only 5%, subject to certain terms and conditions. 

Achievable requirements: Applicants must be able to prove a clear criminal record and be of good international standing, however there are no language tests, medical assessments, interviews or minimum in-country stays required.

Full family eligibility: Citizenship rights can be extended to primary applicant’s full family, including their parents, their spouse’s parents and their dependent children up to the age of 25 years old.  Citizenship rights are also passed on to grand children through naturalisation, making this a viable solution for multi-generational EU citizenship.

Dual citizenship acknowledged: There is no need to give up your current citizenship to gain Cypriot citizenship, while gaining EU citizenship rights in the process.

Strategic location: Cyprus is located very centrally on trade routes between Asia, Africa and Europe, making it the ideal place to establish a business trading internationally, and with Europe, in particular.

Fast process: The Cyprus CIP programme offers the EU’s only fast track citizenship option. EU residency rights can be obtained within 2 months, with citizenship rights granted within as little as 6 months.

Visa free travel: In addition to giving the bearer visa free access to the whole European Schengen area, a Cyprus passport also provides visa free, or visa upon arrival access to 158 countries worldwide, including Israel, Argentina, Serbia, Austria, Japan, Malawi, Mexico, Hong Kong, Panama, Peru, Guatemala, Iceland and Macao.

English speaking country: English is spoken widely throughout the island nation, making even a permanent move to Cyprus unchallenging from a language perspective.

Quality of life: If world class beaches, culture and mountains appeal to you, Cyprus is the place to be. Featuring globally leading standards of healthcare and education, it is the ultimate Plan B destinations for South Africans, Zimbabweans and Nigerians, among other third country nationals seeking a Plan B within the EU.

 Personal safety: Cyprus, being a small, developed island nation, is one of the safest places in the world. If geopolitical instability, armed conflict or personal safety is a concern for you, Cyprus could be an excellent choice for you and your family.

Affordable permanent residency: For those unwilling or unable to invest €2 million in Cyprus Property, the country’s residency by investment programme may be more appealing. An investment of only €300,000 in approved residential real estate makes the investor eligible to apply for Cyprus Residency By Investment status. Family residency visas can be granted in as little as 4 months, and covers both the parents of the main applicant, their spouse, and dependent children up to 25 years old. The programme only requires investment residents to visit Cyprus once every 2 years. Cypriot residency rights are valid for life, and can be passed down to spouse and dependents, making obtaining it a key component of leaving a global legacy.