OBTAINING THE CYPRUS PASSPORT (EU) WITH THE PURCHASE OF PROPERTY FOR €2.0 MLN
The Company 5 Stars Europe, founded in 1992, is one of the largest companies on residential property in Cyprus, specializing in creating of the best concept, design, quality and service.
Geographically Cyprus has strategic location in the eastern part of the Mediterranean (33 ° E, 35 ° N), being at the crossroads of 3 continents and in close proximity to trade routes connecting Europe with Russia, Central Asia and the Far East.
With a total area of 9251 square kilometers, Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia.
CYPRUS IN EUROPEAN UNION
- May 1, 2004 – the Republic of Cyprus became a full member of the EU.
- January 1, 2008- Cyprus has become the 14th EU member state that adopted the euro.
CYPRUS IS A MEMBER OF MANY INTERNATIONAL ORGANIZATIONS:
- WORLD TRADE ORGANIZATION (WTO) (1995)
- ORGANIZATION FOR SECURITY AND CO-OPERATION IN EUROPE (OSCE) (1975)
- COMMONWEALTH OF NATIONS (1961)
- COUNCIL OF EUROPE (CE) (1961)
- UNITED NATIONS ORGANIZATION (UN) (1960) AND ITS SPECIALIZED AGENCIES
- THE WORLD BANK
- INTERNATIONAL MONETARY FUND (IMF)
ADDITIONAL BENEFITS THAT MAKE CYPRUS SO ATTRACTIVE
- Affordable cost of living.
- Widespread use of English.
- Multicultural environment- about 20% of the population are foreigners.
- Low crime rate.
- Beauty landscapes and beaches.
- Benefits for business and tax credits (12% corporate tax, the agreement on the avoidance of double taxation with more than 40 countries).
CITIZENSHIP THROUGH INVESTMENTS
On the 28th of March , 2014 the Government of Cyprus announced the changes to the legislation that would allow foreign investors to acquire the citizenship of Cyprus (EU) and to obtain a passport by naturalization in a simplified and a more accessible manner.
One of the key benefits of the Cyprus citizenship obtaining program is that it provides secure investments, not donations, as in many countries.
New investment scheme are as follows:
- € 1,5 million investment in one object of exclusive property.
- € 1,5 million investment in real estate plus € 500,000 for a residence permit.
Property purchased in period of the last 3 years is included in the amount of investments. If the cost of purchased property is less than the required size of investment, the investor can buy property on the remaining amount.
- Property worth at least € 500,000 and that will be considered as a permanent place of residence of the investor in Cyprus, shall remain in the property of the investor for a whole period of time of a passport possession.
- The other property can be sold in 3 years.
- Any property purchased on Cyprus during 3 year period prior to the submission of application (in any company) may be included in the total amount of investments.
- The investor should not have a criminal record in the country of residence and on Cyprus.
- The applicants became the members of a collective statement. For citizenship under the terms of the collective schemes there must be 5 applicants.
- Passports will be issued within three months.
- Passports will be issued to the investor, spouse and children – dependents till the age of 28, under condition that they are having full-time course of study.
5 Stars Europe ensures that the passport will be obtained or all investments will be returned.
Cyprus allows to have dual citizenship
Dual citizenship, in particular the EU one, is very beneficial for many reasons.
Possessing the Cyprus citizenship you can:
- Citizens of Cyprus have the right to live and work in Europe.
- Passport of a citizen of Cyprus allows traveling without a visa to more than 140 countries around the world.
- Owners of passport of Cyprus can quickly and inexpensively get visas to other countries, for example to US.
- Dual citizenship is an effective tool for tax planning.
- Dual citizenship provides guarantees against political instability.
- Dual citizenship provides access to the best educational institutions and health facilities.
EASY ABROAD TRAVELING WITH CYPRUS PASSPORT
The owners of EU passports have the right to travel without a visa to more than 140 countries!
The list of countries that can be visited without a visa for an indefinite period:
- All EU countries
- Isle of Man
- French Guiana
- Holy Bartholomew
- St Maarten
- Saint-Pierre and Miquelon
- French Polynesia
- Wallis and Futuna Islands
- New Caledonia
Other areas with limited period are specified below:
- Canada (6 months)
- South Africa (30 days)
- Bermuda (6 months)
- Chile (90 days)
- New Zealand (3 months)
- Israel (3 months)
- Mexico (180 days)
- Jamaica (3 months)
- Venezuela (3 months)
- Japan (3 months)
- Hong Kong (90 days)
- Singapore (90 days)
- Malaysia (3 months)
- Brazil (90 days)
- Argentina (90 days)
The owners of the EU passport can get the tourist visas to other countries, for example to the United States, in a simplified manner and with minimal cost in the US Consulate on Cyprus and the visa is issued within 10 working days.
OPTION 1-INVESTMENT OF € 1.5mln. IN ONE REAL ESTATE ITEM
This package allows the investor to take the opportunity of very low investment threshold of € 1,5mln. by buying a luxury villa in Minthis Hills that is an exclusive and popular golf resort.
In addition, the purchase of the first property the value added tax is only of 5%.
Golf Resort Minthis Hills is an ideal investment opportunity. Unique villas designed by world-class and award- winning architects, places for leisure and recreation, including championship golf course with 18 holes, luxury spa resort, club, tennis courts, walking trails, and a village square with restaurants and shops – all this is combined with a unique location and magnificent views.
- Exclusive real estate
- Places for leisure and recreation
- A team of world-class architects, including such world famous companies as Atkins and Woods Bagot
- New project with a good potential for growth of property value
- Excellent location, within 10 minutes of driving from all the necessary infrastructure
- Environmentally pristine area of Cyprus
- Real Estate, giving you the status of citizen of Cyprus
- Significant savings on VAT (5% as opposed to the usual 19%) in the case of purchase of the first and primary real estate
- Significant potential to increase property value in Minthis Hills
OPTION 2 – INVESTMENT IN SEVERAL REAL ESTATE ITEMS € 1,5 million
Option 2 gives you the opportunity to purchase several real estate items in various complexes. It may be 2 items if you chose the exclusively expensive projects such as, for example Amorosa, or even 5, if you choose a budget property.
- Ability to purchase real estate that is not subject to VAT, the amount of which is limited
- The spread of investment reduces the risk
- Ability to purchase real estate in various regions