Cyprus Citizenship in 5 Simple Steps

Cyprus VillasThe process for Cyprus’ Citizenship by Investment program could not be simpler and is achievable in just 5 simple steps. La Vida’s specialist consultant’s will be able to assist investors from A to Z, from the real estate purchase, to the legal work and application.

Below is a guide to the necessary steps:

Step 1: Engage and Invest

Once La Vida have been appointed and our client facilitator agreement has been signed, the first step is to make a visit to Cyprus. La Vida will tailor a visit to suit, provide a full 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 reserve the property with a deposit to begin the purchase. It is possible to do all of the above remotely if a visit is not viable and La Vida and our legal team will help with this.

Step 2: Application submission

Following the property investment, La Vida’s legal partners will begin the application for the main investor and spouse, undertake due diligence and gather all the supporting documentation. On submission of the naturalization application a permanent residency permit will also be applied for which takes less than 2 weeks to obtain. It is necessary for every adult applicant to hold a PR card in Cyprus for at least 6 months prior to collecting their passport/national ID.

Step 3: Biometrics

Shortly after the application has been submitted, biometric data will need to be given. This can either be done during a further visit to Cyprus or it is possible to visit certain Cypriot embassies to submit the data. The Cypriot Embassies in locations such as London, Moscow and Pretoria can provide this service. At this point it is also possible for investors to collect their residency permit cards.

Step 4: Approval in Principle- 3 months

The Government have a set timeframe of 3 months for the examination of the citizenship application from submission. At this stage investors will receive an ‘in principal’ approval certificate.

Step 5: Collect Passport

Following the ”in principle” approval and once the investor has held their PR card for a total period of six months, their new Passports/ID’s can be collected either in Cyprus or at a local Cyprus embassy. The total process will take 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 specialist consultants, please do not hesitate to get in touch.

Cyprus Citizenship Remains Strong

Mk4 - PafiliaExtra - A_3067The Cyprus citizenship by investment programme remains a firm favourite amongst high net worth individual’s worldwide.  With it passport power scoring highly and its simple and fast processing time, the Citizenship programme is often at the top of many investors lists when searching for a second passport programme. Not only does Cyprus offer a straightforward route to EU citizenship, the geographical location of the country is very appealing to many as it is conveniently position between Europe, Africa and the Middle East and often viewed as an ideal business hub between the three continents.

In terms of the Economy, the property market is steadily growing which is a strong reflection on how successful the Citizenship and Residency programmes have been, attracting large international investments into the country.

Back in 2011 Cyprus also discovered 2,000 billion cubic metres of natural gas reserves off shore which has significantly increased the countries credibility and will certainly help to boost the Islands economy further as this exciting prospect progresses in the future.  A large drilling operation for the natural gas began in July 2017 and will take place through to October 2017.

Not only is Cyprus part of the EU it is also a member of the Commonwealth of Nations, Eurozone, United Nations, IMF and World bank. For more information on this programme, please do not hesitate to contact La Vida’s specialist consultants.

Economic Growth Continues in Cyprus

shutterstock_83630347According to the most recent RICs property price index report for Cyprus, there has been more promising signs of economic growth throughout the country. An improved confidence in Cyprus’ banking system resulted in a higher number of transactions taking place in the final quarter of last year.  2016 also saw an overall GDP growth of 2.9%, which was an excellent reflection of how fruitful the Golden visa programme is proving for the country.

The Minister of Finance recently commented that there had been approximately two thousand golden visas issued to non-EU citizens last year. This equates to around 4 billion euros worth of investment, which in turn makes up around 25% of Cyprus total GDP.

Rental values have also noticeably increased. Comparing Q4 of 2016 to the previous year, there has been a rise in ROI’s of 6.6% for apartments and 8.7% for houses, making the average rental yield now between 3-4% p.a.

The countries Citizenship by Investment programme still holds it’s place as Europe’s quickest CBI programme. Following an investment of €2,000,000 + costs, it is possible to obtain an EU passport within just 6 months which in turn allows one to live, work or study anywhere in the EU. Contact our Experts for more information…

Cyprus CBI Webinar

shutterstock_530610559Over the last few weeks La Vida have hosted a number of informative webinars for our clients to learn more about the various residency and citizenship programmes that we offer. Last week our Cyprus visa expert, Edwina Keyser, hosted a very successful webinar on the Citizenship by Investment programme. The webinar covered many points about the scheme, including the requirements, the step by step process, real estate options and a Q & A section at the end.  If you missed the live session it is possible to catch up and listen to the recording online. La Vida can assist you from A to Z with the Cyprus citizenship and permanent residency schemes and if this is something you are considering, we would be delighted to hear from you.

To receive a copy of the recording, please see the link:
Cyprus Citizenship by Investment and a Second Passport

Real Estate Market Shows Strong Signs of Growth

cyprusAccording to several recent reports the real estate market and economy in general have started showing very positive signs of growth. The most recent RICS Property Price Index Report states that Paphos has been one of the strongest regions of Cyprus with an average price increase of 1.77% on residential houses in 2016.  Limassol also saw a steady rate of growth, 1.4% on average; and there was an overall growth of 1.6% for holiday apartments throughout Cyprus.

Rental values have also increased across Cyprus by 0.7% for apartments and 3.3% for houses. The average ROI for rental property now stands between 3-4% per annum.

Following the 2013 economic crisis, both the economy and real estate market finally appear to be stabilizing. KPMG’s recent report notes that 2016’s growth is a primary result of the government’s Citizenship by Investment scheme with has now been successfully running for a number of years, generating a lot of new income for the country.

In the first two quarters of 2016, the total number of property sales increased by over 28% in comparison to Q1 and Q2 in 2015.  Tourism, financial services and real estate account for nearly 80% of Cyprus’s GDP, so a rise in the property market will have a great effect on lifting the overall economy.

The market in Cyprus certainly now seems to have bottomed out in most area’s, meaning that there has never been a better time to buy, with great potential for future capital appreciation. We predict further price rises in 2017.

Cyprus remains the fastest Citizenship by Investment programme in Europe offering investors a second passport within just 6 months following a real estate investment at €2m. Dependent children up to the age of 28 years old can be included under a family application and grandparents can also be included for just an additional €500,000. The real estate investment must be held for 3 years, after which investors only need to retain a residential investment of just €500,000 for the future. As Cyprus is a full EU member a passport here will enable one to live, work and study in any EU country, currently still including the UK.

For more details on this scheme, please contact our specialist consultants today for further advice.

Cyprus Citizenship Meetings in London

Venue: Conrad Hotel
Week beginning February 27th 2017
Arrangement: By prior appointment only

Meet our team in London! Not everbody wishes to travel to Cyprus to discuss the Citizenship by Investment programme, so we will be holding individual meetings throughout the week of 27th February at the Conrad Hotel in London. We will have our Cypriot lawyers available for one to one meetings plus our usual advice and guidance from our real estate consultants on a wide range of property options from apartments through to villas and commercial property that qualifies for the scheme. Our lawyers will be able to give advice and guidance of all aspects of residency in Cyprus including programme requirements and initial tax advice. Meetings are strictly by appointment and as with many of our location timetables with the free unconditional advice on offer, times and availability get booked out quickly.

Contact Edwina Keyser in our UK office on +44 207 060 1475 or complete this form for further details or to schedule an appointment.

La Vida Sells to Over 40 Countries Across the Globe

golden-visas-worldwide-300x203In 2016 La Vida generated sales from clients in over 40 different countries worldwide. Our specialist consultants, based in our UK head office, processed over 10,000 enquiries for the various golden visa programmes, providing our clients with initial free advice about the residency and citizenship options available.

Cyprus remains the fastest EU Citizenship by Investment scheme and is therefore one of our most popular programmes with investors looking to obtain a second passport in a short amount of time.

La Vida’s network of partners also grew in 2016 and we now work with over 30 key partners throughout Europe, USA and the Caribbean; including real estate developers and legal firms that help support our clients with their investments and visa applications.

Our web presence remains stronger than ever through our main domain and is proving to continuously  grow as La Vida invests heavily in advertising and marketing. In 2016 our adverts were seen over 40 million times and our content and programme advice was viewed by over half a million readers.

La Vida offers free comprehensive and balanced advice to clients on a selection of residency and citizenship programmes via real estate investment. We have built our real estate agency presence in Europe over the last 12 years and our property selection now stretches across five countries.