Acquiring Cyprus citizenship entitles a person, amongst others, to live and work in Cyprus without any restrictions as well as travel without any formalities within the EU.
There are four legal ways through which an alien can obtain Cyprus Citizenship:
- Due to Cypriot origins.
- Citizenship by marriage.
- Citizenship by naturalization based on years of residence.
- Cyprus Investment Programme.
- DUE TO CYPRIOT ORIGINS
An application can be submitted by individuals who have Cypriot origins.
- CITIZENSHIP BY MARRIAGE
An application can be submitted by foreign spouses of Cypriot nationals, who have completed three years of marriage and two years of residence in the Republic prior to the date of application.
- CITIZENSHIP BY NATURALIZATION BASED ON YEARS OF RESIDENCE
An application can be submitted by foreign nationals, who have completed seven years of legal residence in the Republic prior the date of the application. In cases of aliens who are either parents or children of Cypriot citizens the time required is five years rather than seven.
In any case, the applicant must have resided legally and continuously in Cyprus during the twelve months preceding the date of the application.
- CYPRUS INVESTMENT PROGRAMME
Acquiring Cyprus Citizenship by investment is also a possibility.
An individual can become a Cypriot citizen by the means of investing in the country’s economy. Since March 2014, the council of ministers made the decision to allow non-Cypriots to become citizens of the country by meeting certain conditions. These conditions can either be met by the individual or by a company where such an individual is a shareholder and/or an executive director.
To learn more about the programme read our article.
BENEFITS OF OWNING A CYPRIOT PASSPORT
There are plethora of benefits that individuals can enjoy simply being owning a Cypriot passport.
- Travel Benefits
As a citizen of Cyprus, individuals can travel within the European Union without a visa. This benefit has economic as well as bureaucratic benefits that individuals can enjoy. Citizens of countries under the EU also enjoy certain rights that make their travel experiences better.
- Educational Benefits
Citizens of Cyprus that secure admission into public universities will go through their undergrad years for free. Also, Cypriots have the right to study in another EU member state and enjoy the same conditions that apply to the citizens of such countries.
This common market allows the education system of European countries to have mutually recognized degrees and other kinds of certification. Citizens of Cyprus and subsequently, the European Union are known to offer quality education with significantly low tuition fees for both undergraduate and postgraduate courses.
- Employment Benefits
Due to the common market in the European Union, citizens of the EU enjoy extensive occupational rights in all 27 member states. This freedom affords citizens of Cyprus the opportunity to move freely and work in any member state without restriction. Also, a citizen of a member country of the EU can work and reside in any member state with their family (even in cases where their partner is not a citizen of the EU).
- Health Benefits
The adoption of cross-border healthcare has given EU citizens extensive and clear rights with respect to health care in any of the 27 European Union states. The Republic of Cyprus provides healthcare on a socio-economic basis, this means that there are certain cases where public hospitals in Cyprus offer free services to citizens. Also, with the European health insurance card individuals can receive treatment under the same conditions and for similar costs in all EU member states.
- Tax Benefits
Cyprus has one of the lowest rates in the world when it comes to corporate tax. The corporate tax rate for Cyprus is 12.5% and this important factor makes businesses to wish to expand their activities in the island.
6. Retirement/pension benefits
Citizens of Cyprus are all insured under the country’s social security scheme to receive a pension.
Information contained in this publication does not constitute any kind of advice on any particular matters and should not be considered as such. ATCA accepts no responsibility for clients’ decision