Why you should be considering the full package offered by a Cypriot second citizenship


Are you considering a second citizenship? If so, have you considered Cyprus? If not - you’re missing out.


The Cypriot second citizenship offers the entire package, combining the tax relief typically associated with the Caribbean, with the business and travel credentials of a major European country. Obtain a Cyprus citizenship sooner than you imagined, securing your future along with your family.


Here are the amazing benefits of a Cypriot second citizenship.


Faster entry than other programs


Second citizenship applications are not known for their speediness. This is especially true in Europe, where applicants are often faced with years to wait before they can gain full citizenship.


This where Cyprus breaks the mould. You could obtain a Cypriot permanent residency card in just six to eight weeks, with no residency requirements, and a new passport following shortly after in just six months.


This means that your dreams of second citizenship can be realised sooner than you imagined, and you could be living your new life in just a matter of weeks. The Cypriot second citizenship is the perfect choice for investors looking to secure a new life, and fast.


Enhanced worldwide access 


Huge disparities exist in passport strength globally, with some countries only permitting visa-free or visa-on-arrival travel to around 30 other countries, compared to others of around 160.


If your home country is towards the lower end of this, this can seem extremely unfair. You have to deal with travel restrictions that other citizens will never have faced. Even when you do travel, you endure endless delays and complicated bureaucracies that makes everything more complicated.


That is where a second citizenship can make a great difference, especially in Cyprus. Being part of the EU, Cyprus has incredible travel agreements, not only across the 28 member states, but also worldwide. 


Moreover, holders of a Cypriot passport can travel to over 170 countries on visa-free or visa-on-arrival terms, which includes visa-free across the entire EU and most of Europe. You can also travel without a passport between EU countries which hold Schengen status, which is most of them.


A Cyprus citizenship puts the world at your fingertips, enabling you to travel worldwide with pleasure and ease. 


Attractive tax benefits


A second citizenship with Cyprus can be a major benefit for your business.


Like travel freedoms, there is a great disparity between the highest and lowest tax countries. Sweden sits highest in the world at 62% for income tax, compared with other countries who do not impose this at all. A large part of Africa imposes high income and corporate tax rates. 


On top of that, you have wealth transfer taxes which have a huge impact on the future you can secure for your children. Citizens of Japan lose a whopping 55% of their wealth to the government in inheritance tax, for example, compared to many other countries who have 0% estate or inheritance taxes such as Canada and Australia. 


Cypriot citizens pay only 12.5% corporation tax, and non-domiciled residents only pay income tax on income earnt in Cyprus. With a second citizenship of Cyprus, you can also enjoy various exemptions on wealth taxes, including total freedom from estate duty.


Secure your loved ones’ future


Many citizenship by investment programs require additional investment to include family members on the application. This can considerably raise your investment, especially if your family is big.


The Cypriot second citizenship program is fantastic because your initial investment includes multiple dependents. 


This means you can obtain a second passport for your spouse and any dependent children under the age of 28, without having to pay a large additional amount of money. You can even add dependent parents aged over 65.


The Cypriot second citizenship program is an investment that has the potential to change the entire course of your family’s future for the better. Your children can pass on their citizenship by descent to their own children, so you can rest easy in the knowledge that you’ve provided security for your family that will last for generations to come. 


Simple, straightforward process


Trusting that your investment is in good hands is vital when considering a second citizenship.


With the Cyprus program, you can trust your application will not become a hassle with a proven secure process and clear qualifying criteria. You do not even need to visit Cyprus during the application process, meaning you can secure your second passport with minimum effort.


Diversified investment portfolio 


When investing a large amount of money, you need to be certain that your portfolio is diversified to mitigate risk. The Cyprus program does this for you, as it enables you to divide your overall investment of €2m into several parts, which include real estate, local businesses in Cyprus and financial assets.


This means that your investment is spread securely across numerous different assets and your capital is well-protected. You only need to hold this investment for three years or more, only tying up your capital in the short-term (citizenship is for life).


Furthermore, the option of real estate investments offers great prospects for double-returns when you resell. 


Potential to relocate


Cyprus, with its rich culture and diverse, thriving expat community is an attractive choice for relocating or having a home-away-from-home. It’s also fantastic for business with a robust infrastructure that serves as your perfect European business hub.


Furthermore, Cyprus is a very safe place to live, and therefore a wonderful option for raising your family. As well as having prestigious international universities available to them, your children can travel and study anywhere across Europe with their Cypriot passport, thus giving them a world of opportunities and a foundation for a secure and better future. 


A second citizenship in Cyprus ticks all the boxes of the perfect choice for securing your future abroad. It is consistently one of the most popular second citizenship by investment programs. 


Act now to gain your Cyprus citizenship and enjoy all the benefits of this attractive program, as stricter regulations come into place on 15th May 2019.


Astons is a leading global immigration advisory firm with offices in London, Moscow, Dubai, Cyprus and China and offers residency & citizenship investment solutions in the UK EU & the Caribbean


For further information or to discuss your personal circumstances in a private consultation, please contact Astons at  info@astons.com  or call +44 207 292 2977.