The citizenship by investment programme in Cyprus is not only the quickest EU citizenship programme available today, it is also one of the most straight forward options. The programme is a firm favourite amongst high net worth investors looking for a quick solution to gaining a second passport in the European Union which in turn give them the ability to live and work in any EU country. Not to mention the freedom of movement to over 158 countries globally.

The process could not be simpler and is achievable in just 5 simple steps. La Vida’s expert consultant’s will be able to assist investors every step of the way, from the real estate purchase, to the legal work and application. The process is as follows:

Step 1: Engage and Invest

Once La Vida have been appointed and our client facilitator agreement has been signed, the first step is to visit Cyprus. We will tailor a visit to suit, provide an itinerary, arrange property viewings and a meeting with a legal representative. Investors will need to select real estate to meet the required investment of €2,000,000 and place a reservation deposit on the property to begin the purchase. If it is not possible for investors to visit at this stage, they can select and reserve a property remotely with the help from La Vida and our legal team.

Step 2: Application submission

Following the investment, our legal team will begin the application for the main investor and spouse, undertake due diligence and prepare all the supporting documentation. On submission of the citizenship application a permanent residency permit will also be applied for which will takes less than 2 weeks to obtain. Every adult applicant is required to be the holder of a PR card for a period of at least 6 months prior to collecting their passport/national ID.

Step 3: Biometrics

Biometric data will need to be submitted, this can either be done during a further visit to Cyprus or it is possible to visit certain Cypriot embassies to submit the data. Locations such as London, Moscow and Pretoria can provide this service. It is also possible at this stage for investors to collect their residency permit cards.

Step 4: Approval in Principle- 3 months

The time frame set by the Government for the examination of the citizenship application is 3 months from submission. At this stage you will receive an ‘in principal’ approval certificate.

Step 5: Collect Passport

Following the approval in principle, once investors have held their PR cards for a total period of six months their new Passports/ID’s can be collected in Cyprus or at a Cyprus embassy. The total process will only have taken just over 6 months. It’s at this stage that the main applicant’s dependents can then apply for citizenship.

For more details on the Cyprus Citizenship by Investment programme and a free consultation with one of our advisors, please do not hesitate to get in touch.

Tags: 2017 , citizenship invest , cyprus , europe

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