Cyprus is a favorite destination in Europe for overseas investors to ask for Cypriot citizenship and enjoy a stable economic condition and European Union membership. With an outstanding legal and political infrastructure, and highly modern taxation system, this European country is capable to pursue effective trading and business relations with UK and other states. Cyprus offers high standard lifestyle and a quality education system. All Cypriot citizens are likely to experience the best value for real estate investment and reduced taxation system.
Different Options – How to Get Cyprus Citizenship
All non-Cyprus nationals, who qualify a list of economic standards, either individually or through any local company wherein he or she is a shareholder, are eligible to apply for and obtain the Cypriot citizenship via Naturalization process.
The Council of Ministers decides to award the Cypriot citizenship to the life partner and the economically dependent children (18 years or above) of any investor in Cyprus. Neither the investor’s spouse nor his/her children are required to fulfill any of the required financial criteria.
The Cyprus citizenship law considers the adult children of the investor to be economically dependent especially if they are pursuing higher degrees or diplomas in academic institutes till the age of 28. Similarly, children below the age of 18 have the citizenship rights as per the conditions of the Civil Registry Law. The applicant must hold on to the investments in any Cyprus government bond, bank, and property or company for a minimum 3 years from the day of Naturalization.
Apart from investment, there are a few other options that allow investors to obtain Cypriot citizenship, which are:
1. Cyprus Citizenship via investment (the easiest and quickly processed method for investors and entrepreneurs in Cyprus with little bureaucracy and time involvement)
2. Cyprus Citizenship by Naturalization (for foreigners who are living as permanent resident in Cyprus for seven consecutive years or happen to be parent/ child of any Cyprus citizen and living here with permanent residency visa for five consecutive years or
3. Cyprus Citizenship by Marrying to any Cypriot citizen (foreign nationals residing in this country for 3 years after their marriage to any Cypriot citizen can apply for Citizenship)
How to Obtain Cypriot Citizenship
For future applicants it is very necessary to know how to apply for Cyprus citizenship. First, the applicant need to visit the Civil Registry and Migration Department and receive application form and list of necessary documents which must be submitted along with application.
All these documents including the birth certificate of the candidate, the marriage certificate as well as copy of the passport of his/her parents should be authentic and must have the stamp or properly signed by the issuing countries that participate in the Hague Convention or must be sealed by the Foreign Affairs Ministry and the embassies of the Cyprus.
Ultimate Advantages of Getting the Cyprus Citizenship
Cypriot citizenship comes with a lot of unmatched advantages comparing with any other country’s citizenship program.
First of all Cyprus has EU membership and its citizenship ultimately brings European Citizenship along with all the exclusive advantages offered for it.
Let’s discuss about the potential advantages here:
Simple and fast processing: The process might get completed within 6 months time.
Acquisition of permanent residency: The application acquires permanent citizenship rights from the date of filing the application.
Permission for dual nationality: Foreigners don’t have to abandon their present nationality.
No requirement of prior residence: There is no need for applicants to live in Cyprus before filing for the Cypriot citizenship.
Financial Dependants have rights on citizenship too: All the financial Dependants including spouse and adult children pursuing studies below the age of 28 years will have rights on citizenship.
Visa free work, travel and study anywhere in EU: After granted citizenship in Cyprus, individuals can travel to almost any EU country, work and study there without any official visa permit.
Low taxation system: The Cyprus citizenship brings the advantage of the lowest tax rates along with no inheritance /foreign income/withholding tax on interest received.
If you need advice regarding Cypriot citizenship, professional lawyers from real estate companies can guide you. They will assist you with all legal procedures in order to obtain Cypriot citizenship and make property investment in the future.This post is developed by “Chris Michael Property Group”, a real estate company with more than 30 years of experience. The company successfully succeeding both, providing assistance to investors to obtain Cypriot Citizenship and find great offers on new as well as resale properties.Article Source: http://www.thearticlesbase.com/foreign-investors-know-how-to-get-the-cyprus-citizenship/