CYPRUS RESIDENCE PERMIT / CITIZENSHIP
CITIZENSHIP / RESIDENCE PERMIT IN CYPRUS
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SETTLE, WORK AND INVEST IN CYPRUS
Cyprus has featured constantly in researches on the countries that edge out as the best to settle, work and invest in all over the globe. This achievement is brought about by a couple of factors that include a stable economy, reliable taxation system, affordable living cost and most importantly, a very well developed & defined infrastructure. In addition to this, Cyprus also takes pride in having acquired the exclusive EU membership status.
Cyprus residence permit offers outstanding rights to settle work and invest without any restrictions whatsoever. To get this permit, there are only a few formalities that are involved. These formalities are such as simple registration if the intention to settle is necessitated by employment.
Non EU citizens require to seek permission to settle, work and operate in the country. This is done by either directly applying for a Cyprus work permit or by establishing a local Cyprus ltd company that in turn employs the non EU national. This is done after receiving approval from the Department of Migration.
In order to acquire immovable property such as land, there is need for non EU citizens to get permits. Oxford offers professional services on acquisition of permits such as residence, property acquisition and employment permits among other permit types. Specifically, we help non EU citizens in the application and acquisition of permits on grounds such as:
- Entry Visas;
- Working Permits;
- Temporary and Permanent Residence Permits;
- Categories C and D ( Persons with the intention of working as self employed in trade, science or careers in Cyprus);
- Category E (Persons with job offers as executives (Cat.1) or staff (Cat.2) of Cyprus companies.
ACQUIRE A CYPRUS CITIZENSHIP
Becoming a Cyprus citizen has a couple of benefits that include entitlement to settle and work in Cyprus without any limitations or restrictions whatsoever. In addition to this, the citizenship eases your travel within the EU as there are no formalities required. Cyprus Citizenship can be acquired through 3 ways: naturalization, exemption and marriage to a Cyprus citizen.
CYPRUS CITIZENSHIP THROUGH NATURALIZATION
To acquire citizenship by naturalization, the applicant (EU citizen / third country national) needs to have had resided in Cyprus legally for a period of not less 7 years. What’s more important is that the stay in the year preceding the application date needs to be full with no interruptions arising.
CITIZENSHIP ACQUISITION BY EXEMPTION
This option is available to foreign investors and entrepreneurs in Cyprus. From the beginning of 2013, Cyprus Council of Ministers has stipulated the criteria and conditions for citizenship through exemption. To meet the eligibility standards set, there is need for applicants to be in possession of 5 Million Euros direct investment in Cyprus. Alternatively, the applicant should either have personal bank deposits of 5 million Euros or deposits (5 million Euros) by Cyprus companies (privately owned) and under the applicant’s control for a period of not less than 3 years. Further, the applicant needs to be in possession of a private residence in Cyprus that is suitable for the applicant and his family.