Cyprus grants two sorts of Golden Visas, which result in nationality and the second to resident status. The distinction is due to the sum of money that must be invested.
To obtain Cyprus nationality through investing, the candidate must invest a minimum of €2 million in the housing market. The capital needed for legal residence is lower, at €300,000.
The Cyprus Golden Visa program is the fastest path to citizenship in any European country (only six months).
The advantages of investing in Cyprus nationality
If you invest in a country’s passport, you and your household will have the same privileges as other Cypriot residents. It contains the following:
- Within the Euro Zone, you can reside, operate, and learn wherever.
- You are not required to take a language test or participate in an inquiry.
- Passports will also be granted to your partner and kids under 18.[1]
- You do not have to live in the country for a long period before asking for nationality, but you must have a valid resident visa for at least six months before the request may be processed.
- Dual nationality is permissible.
- You can invest via a corporation or organization with which you have a tie.
- You can cut your investments to €500,000 after five years, which you must maintain for the rest of your life. It implies you’ll be able to sell your first homes.
- If you contribute another €500,000, you can add your family and your partner’s family.
- You can rent out the homes you’ve bought.
[1] The passport can be carried down through families. You can also put your grown children on the registration if they are still pupils and hence reliant on you. They must be under the age of 28 and single.
Cyprus golden visa requirements
To gain nationality in Cyprus by investment, you must:
- Buy a property with a value of at least €2 million (excluding VAT). It might be a solitary asset or a group of assets worth up to €2 million.
- You must put an extra €500,000 into your house acquisition if you desire to invite your relatives or your partner’s relatives.
- Have all of the documentation you’ll need for the request.
- Papers relating to the ownership of a home, evidence of availability and authorized resources, criminal records, and so on.
- Capital should be transferred from overseas for investment.
- Before filing for a Golden Visa, make a firm commitment to the investment.
Procedure for submitting an application
Following the completion of your investment, you must register for a country’s passport at the Home ministry. You can petition on your own or seek legal counsel to help you. The following is a summary of the nationality by investment registration procedure in Cyprus:
- Use a standard travel document to access the country.
- Send your request to the Ministries of Home in Cyprus, which will collaborate with the Finance department to resolve your case.
- Your request will be submitted to the Board of Directors for confirmation.
- While your case is being processed, you will be given a six-month residency visa, which you can utilize to remain in-country or move in and out of the country.
- The Permanent residency Document will be sent to you after the registration has been completed.
- Then, you can register for Cypriot citizenship and an Identification card at a municipal department where you have established.
- If you bring any relatives with you, you must register all of your forms simultaneously.
- Furthermore, after submitting your request, you must undergo a secretary of a Cypriot Court process before becoming a complete Cypriot resident.
Is it necessary to reside in Cyprus to extend your golden visa?
To extend your Golden Visa, you do not have to reside in the country full-time.
For starters, if you obtained Cyprus nationality by investment (through the Golden Visa program), you are regarded as a complete Cypriot resident, which means there are hardly any required residence limits. In conclusion, a country’s citizenship entitles you to reside in any EU country.
If you obtained a Long Residence Permit under the Golden Visa program, you only have to travel to the country once every two years to renew it.
