Residency – Elite Passport

Find a program

Residency by Investment

What Is Permanent Residency?

Permanent residency allows a person to live in a country without being a full citizen. The holder can then live, work, study and access the health care system. However, there are limitations, for example, they are not permitted to vote or run for any political office.

To apply for permanent residency there are specific requirements including:

Working in the country
Studying in the country
Being able to speak the language

Since 1986 investment opportunities opened up another route to permanent residency.

Once PR status is achieved and the person has lived in the country for a specific amount of time they can apply to be naturalized and become a full citizen.

What Is Residency by Investment?

Residency by investment is when an individual obtains permanent residency by investing in the economy of the host country. PR is often achieved at a much faster rate compared to traditional methods.

Security

If one’s home country is politically unstable or there is violent unrest then holding a passport from another country can mean the difference between life and death. The ability to move to a stable part of the world makes many investors see second citizenship as an insurance policy and a means to escape with their family.

Global Mobility

Some passports offer more mobility than others. For example, in Pakistan passports will allow visa-free travel to only 40 countries. A passport from Cyprus, on the other hand, allows entry into 164 countries with no visa. This means a lot less form filling, standing in queues and trying to navigate the bureaucracy around visa laws and saving this time is priceless to those who travel globally for business.

Business

By taking part in residency by investment programs business people can access new opportunities to invest as well as enjoy better freedom of movement.

Tax Management

Dual residency can give important tax advantages particularly when some countries have no capital gains tax or don’t tax income earned abroad. These rules mean that investors can more easily and effectively manage their wealth.

Family

The main applicant’s family can also gain citizen through these programs which can lead to a better future for their spouse and children. Second residency can bring access to better health care, education and general improvements in quality of life.

Education

Second residency can open up world-class educational opportunities for applicants and their families. Becoming a citizen means access to reduced fees and a better overall standard of education to open up more opportunities for success.

What Do Countries Gain From Citizenship by Investment Programs?

Most countries who offer this scheme are in great need of direct investment and use the funds to develop real estate, business and create jobs. The programs also make sure that the country can attract the talent and expertise they may be lacking.

Which Countries Offer Citizenship by Investment Programs?

CIPs are offered by many countries worldwide and their numbers are increasing all the time as countries are increasingly drawn to the benefits they receive from immigrant investors.

What Are the Requirements for Obtaining a Second Passport?

Every country has its own unique rules and regulations for applying to its CIP. Some countries may require health certification, others may not. However, there are some requirements that all countries have in common. These include:

The applicant(s) must have a clean criminal record
The source of the investment funds must be clear and legal
The investor must put money into one of the options approved by the Government.

To gain a second passport the applicant must fulfill all of the criteria set out by the host country.

Applicant Criteria

There will be several strict, detailed checks with the final decision resting with the Ministry. An applicant who has already been rejected for residency in another EU country will automatically be rejected for citizenship under this programme.

All applicants must:

Possess a valid Europe Schengen Area visa.
Own a permanent residence within Cyprus which is valued at a minimum of €500,000 +VAT.
Applicants of the same family may submit individual applications but any collective residence must be valued at a minimum of €500,000 +VAT per person.
Applicants are required to pay a processing fee of €7,820 per person over 18 years of age.

Applications include dependants which are defined as:

Spouse of the main applicant
Children under the age of 18 years
Children aged 18-28 who are full-time students and financially dependent.
Parents – only if they purchase a residence valued at a minimum of €500,000 +VAT.
All dependents over the age of 18 must have a clean criminal record.