The United Kingdom officially concluded its membership in the European Union on January 31, 2020. Since then, there has been an increasing number of individuals considering moving to the United Kingdom through Cypriot citizenship. Holders of Cypriot passports have the right to live, work, and study in the United Kingdom, as well as apply for residency and British citizenship.
Cyprus has a strong relationship with the United Kingdom, reflecting their long historical ties. Cyprus was a British colony from 1925 to 1950. In 1960, Cyprus became an independent state, forming the Republic of Cyprus. Since then, Cyprus has maintained close political, economic, and cultural ties with the United Kingdom.
Cyprus citizens enjoy full voting rights in the United Kingdom as citizens of a Commonwealth country, after meeting residency requirements. They may also acquire various political rights under European Union law, such as the right to vote and stand for election in the European Parliament elections in the United Kingdom.
Obtaining Cypriot Citizenship
Cyprus has been offering its citizenship program through investment (currently suspended) since 2002, undergoing several changes over the years. Initially, when the program was launched, the minimum investment threshold was 10 million euros, but it was later reduced to 2 million euros.
Individuals with permanent residency in Cyprus can qualify for Cypriot citizenship after residing in Cyprus for 7 years. The investment options in this program are as follows:
- Fast Track
In this path, the processing time is expedited, taking 3-5 months, in exchange for purchasing real estate valued at 300,000 euros or more. It is a requirement to maintain ownership of the property throughout one’s life to retain the validity of permanent residency in Cyprus.
- Regular Track
In this path, the processing time is longer compared to the fast track, involving the purchase of real estate valued at less than 300,000 euros. The process extends for no less than two years, subject to additional conditions.
If you are interested in obtaining permanent residency in Cyprus through real estate investment, contact us to schedule a free consultation by clicking on the link here.
