The Cyprus Investment Program is the best solution for those who care about their future and want to make a profitable and efficient investment. At the moment, the investment program operating on the island is considered one of the most loyal and profitable in the EU. It allows obtaining a passport of a Cypriot citizen in a short period of time.
Advantages of investing in real estate in Cyprus
The investment program is officially adopted in the European Union. Therefore, its participants receive many benefits:
- Become full-fledged citizens of the EU and receive all rights without restrictions to live, work, own and run a business, and study in any country of the European Union.
- It is possible to apply for citizenship for the whole family. The program provides citizenship to the spouse, parents and financially dependent relatives (children).
- Cyprus law does not prohibit dual citizenship.
- Investment is remunerative and is refundable.
- Participants in the Cyprus Investment Programme have tax breaks and exemptions.
- Simple procedure for participation in the program. After providing the necessary documents and application form, the consideration is 6-9 months.
- Freedom of movement. You get a visa-free entry into all EU countries, as well as Canada and Australia.
- You do not have to take the language and history exam.
- As a Cypriot citizen, investors and their loved ones have the opportunity to live, work and study in the EU.
How to become a participant in an investment program
In order to obtain a passport of a Cypriot citizen under the investment program, you must invest at least €2 million in real estate.
At the same time, be sure to buy a residential property for personal residence worth at least € 500,000 and pay VAT. It is also obligatory to make a charitable contribution in the amount of EUR 150,000. In addition, you will need to provide a certificate of criminal record, a sales contract, confirming the direct investment in the property and a receipt of payment.
The assets must be kept for 5 years, after the expiry of the period they can be sold with profit, while the passport of a Cypriot citizen remains for life.
Stages of buying a property
Before obtaining a passport, you must go through the full procedure of buying a residential or commercial property. It is quite complicated and consists of 7 stages:
- Selecting a property.
- Approval of the preliminary contract.
- Opening a bank account.
- Conclusion of the contract of purchase and sale.
- Registration of the contract in the land commission.
- Conducting settlements with the seller of real estate.
- Registration of the right of free use of real estate.
Our division Crona Property will provide professional support and advice at every stage. In our company you can buy ready-made real estate or create your own unique construction project.