From Cyprus residency to EU citizenship

Become a resident of the European Union 3 months and €300 000? Really. Cyprus provides such an opportunity for wealthy Russians. Learn, how to get cyprus citizenship for russians 2022, how long the verification procedure will take and what benefits the resident receives.

What gives the citizenship of Cyprus

V 2021 year, the Russians became champions in the number of applications for a residence permit in Cyprus. According to experts, one sixth of all foreign applications came from Russia. The reasons for its popularity are simple.: Cypriot passport is a profitable investment. He gives:

• Cosmopolitan status and free movement around the planet. The ability to travel, live and work in 170 countries of the world without visa restrictions.
• Optimization of income tax and property tax. Reducing the corporate rate to 12,5%. Plus the right of a resident to choose a tax recipient country.
• Opportunity to use the services of European banks, save savings and mutual settlements with partners from different countries.
• Entering the global market and strengthening business ties.
• EU citizenship for all family members.
• Free education at local universities, chance to study at European universities.
• Life in the country, where the sun shines up 340 days a year.
• Cypriot passport gives conditions, equal permanent residence, plus the right to participate in elections and politics of the country.

An added bonus is the low crime rate., developing economy of the country and favorable conditions for rapid integration into society.

How to obtain Cypriot citizenship for a Russian citizen in 2022 year

There is 3 way, how to get a cyprus passport without investment

By birthright

Children are eligible for Cypriot citizenship, born outside the Republic, in family, where at least one parent is Cypriot. After 1960 Citizenship passed down through the father, after 1999 by mother. It may take up to 3 years.

By naturalization

The rules for obtaining citizenship of Cyprus oblige to live legally in the country 7 years: 5 years on residence permit and permanent residence. Latest 12 months before the request to leave the country is strictly prohibited. To apply for a passport, the applicant must provide registration, health certificate, no criminal record, income tax return and submit an ad in 2 newspapers about his desire to become a citizen of the Republic.

Through marriage

Citizenship through a formal union with a Cypriot can be applied through 3 years of cohabitation. It is important to live most of the time in the country. The Migration Department checks the spouse's application 1-2 of the year. If the couple is together more 5 years old and raising a child, then the verification will be easier. If during this time the spouses separated, then the applicant will not receive citizenship. The conditions for obtaining Cypriot citizenship through marriage are strict. Don't try to cheat the system: fictitious marriage faces a fine of up to €5 000.

Citizenship in Cyprus for Russians through marriage, naturalization and birthright available after passing paid tests: Greek exam at B1 level and a test for basic knowledge of politics and life in the Republic. Optional pass 2 interviews in administration and police, where the commission will be convinced of the reliability of the applicant. References, extracts and certificates must be in Greek or English, certified and apostilled.

Is it possible to obtain Cypriot citizenship by investment?

To 2020 year the Cyprus citizenship by investment program was in operation. Only 6-8 months the investor became a citizen of the European Union, having invested 2 million euros to the country's economy. For this amount, the applicant received a passport, his wife, dependent children before 28 years and parents. While living in the country, it was not necessary for all applicants to know history and language. The investment program offered different investment options: Residential Properties, a commercial, stock fund. During 5 years of investment could be returned. Now you can not buy citizenship of Cyprus.

But for investment in real estate, you can become a resident of Cyprus with an indefinite permanent residence status. The amount is more modest, from €300 000, but the processing time is shorter - from 2-3 months. Let's analyze in more detail, how to get a permanent residence permit by investing in real estate.

Obtain Cypriot citizenship when buying property

According to the “regular” naturalization scheme, an expat first receives a residence permit, then permanent residence and only then apply for citizenship. The Republic offers an accelerated way to obtain a Cypriot passport for a Russian citizen. Invest in real estate, obtain permanent residence status and apply for citizenship already through 5 years instead of 7.

Live on this island 5 years is not required, it is enough to visit the country once a 2 of the year. Except for the last 12 months before applying. This year must be lived within the borders of the state. Otherwise, the investor is given complete freedom of action. You can even apply for permanent residence through a trustee, and fly to the island only for biometrics, and this is a valuable option for business people. You can also get a registration card without personal presence.

Cyprus property investment program terms and conditions:

• Investment amount from €300 000 plus VAT 19%. If an investor buys a single residential property, rate is reduced to 5%.
• District, in which the property is located, does not affect the amount of investment.
• Purchase directly from the developer. The program includes only new buildings.
• You can purchase more than one item, The main thing, so that the amount is greater than or equal to €300 000.
• Allowed to rent out the property.
• When investing in commercial real estate, the investor must buy or rent a property on the island.

Important! You need to buy real estate before applying for permanent residence, to attach a certificate of ownership to the package of documents. The entire family of the resident can participate in the program, permanent residence status is inherited. Permanent residence is issued about 3 months. Based on it, you can open a business or transfer an existing one from another country. The term of permanent residence for investment is not limited.

Requirements for the investor: 18 years, in good health, insurance, legal income from €30 000 per year and without restrictions on entry into Europe. If relatives apply with the investor, then the amount is increased by €5 000-8 000 for each family member.

End Now Pleasure offers turnkey immigration‎. Our experts will help you prepare all the necessary documents.

Why buy property in Cyprus

Accelerated obtaining of a Cyprus passport when buying a property is an additional argument in favor of participating in the program. Permanent residence status gives a sufficient number of privileges to a resident of the country.

For 5 months of the current year, citizens of the Russian Federation invested in real estate of the Republic for 87% more than during this period 2021.

Along with the growth in the number of applications for residence permits from Russians, growing and real estate sales. In the capital and large cities, prices almost do not change., but with the development of cities, creation of new jobs, experts predict a rise in housing prices. Changes in investment programs also affect prices.. Foreign investors are interested in obtaining residency. Wealthy citizens prefer to own their own apartments by the sea, to be able to spontaneously arrive at any moment. Another option, available to owners – renting out their own premises. According to experts, income is up to 5% in year, and the service is in great demand.

Plus it's a liquid asset, which can be sold through 5 years.

Residence permit in Cyprus for Russians

Before obtaining permanent residence in Cyprus, you need to issue a temporary residence permit. For financially independent persons, Pink Slip permission is suitable. This is a residence permit for applicants with proven passive income and no right to work. It is valid for a year and can be extended indefinitely.. The main thing is to have time to submit documents before the end of the current permit. Also, according to Pink Slip, you can not leave the country for longer, than on 90 days,otherwise, the residence permit will simply be canceled, will have to apply for a new visa and Pink Slip. The main condition for obtaining a residence permit in Cyprus: prove financial solvency to the immigration service. From €9 000 annual income and from €10 000 in a Cypriot bank account. For each family member the amount increases by €5 000. In addition to certificates of the current state of the account, it is necessary to provide a lease or ownership agreement. Across 5 years of Pink Slip residence the applicant is eligible to apply for permanent residence, by 7 - about citizenship.

FAQ

Does Cyprus allow dual citizenship?

There is no ban on citizenship of two countries in the immigration law. A citizen of Cyprus will not have to renounce Russian citizenship.

Do Russians need a visa??

Russian tourists enter the Republic on a tourist visa. WITH 1 December 2022 she will pay, The visa fee for an adult applicant will be from 80 euros.

Are there tax incentives for foreign employees?

Employees and managers of foreign companies with an income of €100 or more 000 pay reduced income tax. The government plans to expand the list of persons, who can take advantage of this benefit.

Cyprus - what citizenship?

The Republic of Cyprus is a member of the European Union, therefore all Cypriots have European citizenship.

Does the child acquire Cypriot citizenship?

The child becomes a citizen of Cyprus, if one of his parents is Cypriot. The actual place of birth does not matter., if the relationship is officially confirmed.

The fastest way to obtain Cypriot citizenship?

Through real estate investment 5 years, through marriage to 5 years, by birthright - from one to three, by naturalization 7-10 years.