Cyprus is divided into six districts and is a member of the European Union. Nicosia, Limassol, and Larnaca are the most major districts. Turkey to the north, Lebanon to the west, and Greece to the southeast border the island nation in the Eastern Mediterranean. With a surface size of 9,251 square kilometers, Cyprus is one of the smallest countries in the European Union. It has a Mediterranean climate with warm summers and mild winters. A central plain and mountains to the north and south define the landscape. With a population of over 1.1 million inhabitants, it is one of the European Union's least populous countries. Nicosia, the country's capital and most populous city, is the country's most populous city. Limassol and Strovolos are the next cities on the list. Larnaca International Airport (LCA) is the busiest, with over 8.2 million passengers per year. The airport has flights to and from Europe, the Middle East, and Russia.
Cypriot culture has a long history, with influences from both Turkish and Greek cultures. There is a multicultural mix, with Orthodox Christianity predominating. Greek and Turkish are the official languages. The legal system is a hybrid of common law and civil law. A presidential republic is the government type. The President is the president of state and the head of government.
The Euro (EUR) is the country's official currency. The country has an open economy, with a GDP of around $35.9 billion, putting it near the bottom of the European Union. The per capita income of its residents is $41,572. The services sector accounts for the majority of GDP. Tourism, real estate, shipping, and banking are the most major contributors to the GDP, accounting for more than 80% of the total. Citrus, vegetables, barley, and olives are among the products exported by Cyprus. In Cyprus, tourism is a significant aspect of the economy.
There are numerous historic and natural attractions throughout the country. There are three UNESCO world heritage sites in the area. Sailing, diving, fishing, and hiking are all popular holiday activities. Ancient Kourion, St. Hilarion Castle, Larnaca, Ancient Salamis, Cape Greco, and Nissi Beach are just a few of the significant attractions. Every year, roughly 3.9 million tourists visit the country, the bulk of which are from the United Kingdom, Russia, and Israel.
Cyprus
The Cyprus Citizenship by investment program was suspended on 1 November 2020, putting an end to one of Europe's most coveted passport-by-investment programs. After this program ended, the only countries left in Europe that offer Citizenship by Investment directly are Malta and Montenegro. However, Cyprus does have a very attractive residency by investment program, that is still open.
By investing in real estate in Cyprus, you can obtain a Cyprus Permanent Residence Permit. This permit entitles you to live and work in Cyprus, and gives you access to healthcare and education. Furthermore, it allows you to travel freely within the European Union.
The applicant must submit title deeds or a sale contract in his/her name and/or that of his/her spouse, which has been officially filed with the Department of Lands and Surveys, of a real estate with a total market value of at least €300,000 (excluding VAT) and official payment receipts of at least €200,000 (excluding VAT), regardless of the delivery date of the real estate. It should be emphasized that the full payment of the real estate value must be deposited into a bank account in Cyprus.
For the Cyprus Startup Visa, the Startup must be innovative. The enterprise will be deemed innovative if its research and development expenses comprised at least 10 percent of its operating expenses in at least one of the three years preceding the application, as certified by an external auditor using international accounting standards. In the case of a new business with no financial history, the evaluation will be based on the applicant's Business Plan.
The applicant has access to €50,000 in funding, which may come from venture capital, crowdfunding, or other sources.
According to the SovSpot Passport Ranking Index, the Cypriot passport is presently ranked 16th. It allows anyone to travel to 177 countries without needing a visa. It is one of the highest-ranking passports in the world, with a high mobility score. Visa-free travel and visa-on-arrival are available to Cypriot passport holders in countries such as the United Kingdom, United Arab Emirates, Japan, and the European Union as a whole. This enables for almost instantaneous travel opportunities all around the world. Cypriot passport holders, on the other hand, need a visa to visit 52 countries around the world. China, India, and the United States are among the countries that require a visa.
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177
The number of countries Cyprus passport holders can enter without a visa (i.e. visa-free countries) is added to the number of countries Cyprus passport holders can enter by obtaining a visa on arrival (i.e. visa-on-arrival countries) or an electronic travel authorization (i.e. visa-on-arrival countries) (eTA). There are now 142 visa-free countries for Cyprus passport holders, 32 visa-on-arrival countries for Cyprus passport holders, and three eTA destinations. In total, Cyprus passport holders can visit 177 countries without a visa, via a visa on arrival, or via an eTA. As a result, Cyprus' passport is currently ranked 16th in the world. Apart from the visa-free and visa-on-arrival countries, there are 52 other countries where Cyprus passport holders will require either a physical visa or an eVisa (i.e. visa required countries). The Cyprus passport is one of the world's most powerful and sought-after passports. It allows its users to travel to over 175 countries and territories without needing a visa. Citizenship in Cyprus can be obtained in a variety of ways, including through birth, descent, or marriage. Individuals can also apply for Cypriot citizenship through the Cyprus Golden Visa program after seven years of stay. The Cyprus Permanent Residency Permit is one of the simplest and fastest Golden visa procedures available. It allows investors and their families to obtain Permanent Residency Permits (PRP) without having to go through the lengthy immigration process. Permanent residency in Cyprus can be secured in as little as two months by investing in real estate.
Citizenship through descent is only available through the first generation. To satisfy the general conditions for Cypriot citizenship by origin, you must be at least 18 years old and:
If your parents become eligible for British citizenship, remember that particular conditions apply.
Note: Keep in mind that the costs for citizenship by descent applications can vary and depend on many factors, such as:
* In the case of first generation citizenship by descent, we assumed ONLY administration costs, which will be around $100 or less (usually free if application is done in the same country versus foreign embassy or consulate)
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