Securing a 2nd citizenship or permanent residency status in another country is something that many South Africans want to acquire. The main reason is a personal one: to assure their family’s future by implementing a tangible Plan B by protecting against political risk as well as economical instability.
Europe is the world’s largest single market & global trading block and is still the most favoured destination for investors. The attraction of having unlimited access to the EU & the UK is where a 2nd citizenship in Europe has it’s merits. But the real benefits are being able to travel, live, work & study anywhere in the European Economic Area plus enjoy visa-free travel to many countries in the world.
Securing permanent residency status is also appealing because it gives the holders of the residence permit the legal right to live in that country without having to go through onerous immigration processes should they wish to make a permanent move.
There are a few countries in Europe offering the chance to secure a 2nd passport or permanent residency status, but the choice of where to invest can be daunting. Investors are advised to assess each programme to understand the minimum investment amount, the pre-requisites in terms of documentation, any travel limitations and all of the costs – both immediate and ongoing.
Citizenship is granted in 3 months via Cyprus’ “Citizenship through investment” programme:
– This is the quickest process in Europe;
– The main investor, spouse, all dependent children up to 28 years of age; as well as the parents of the investor all qualify;
– This is an investment – not a donation;
– Property/ies CAN be rented out to earn a Euro-based income;
– Property/ies only need to be kept for 3 years, where-after they can be sold as long as a property worth min €500k is retained;
– Citizenship is passed down through descent offering a real legacy to future generations.
Permanent Residency is granted in 4 – 6 weeks on the “Fast Track” programme.
– This is the only programme in Europe where 3 generations in the same family (including both the parents & the parents-in-law) all acquire permanent residency by buying one property!
– Dependent children up to 25 qualify;
– Property can be rented out;
– There is no requirement to live in Cyprus; nor be domiciled there for tax.
- Cyprus is economically stable and politically secure – the country is not flooded with refugees.
- Properties in Cyprus offer excellent value for money when compared to other European countries – especially homes right on or near to The Med.
- The lifestyle is similar to South Africa: the golf courses are world-class, the countryside is breathtakingly beautiful and Cyprus has 57 blue-flag status beaches, the cleanest seas in the Med and a mountain-range where it snows for 3 months.
- No inheritance tax: on your death you can dispose of your assets to your loved ones without having to pay any tax. This is advantageous for legacy planning.
- There are no social problems in Cyprus: and because of this Cyprus has huge appeal as a destination for relocation, retirement, holiday-making and investment.
Some other attractions that Cyprus offers are:
- Being an ex-British colony, there is no language barrier – everyone speaks English and all your documentation is in English. No need for a translator!
- The discovery of natural gas is already having a positive impact on foreign investment and infrastructural development;
- Low cost of living;
- Euro-accredited education gives your children a distinct advantage when they enter the global job market;
- Europe on your doorstep: Cyprus has 2 International Airports and several marinas;
- 1st world medical facilities & affordable healthcare with highly qualified doctors & specialists.
In Cyprus investing in the “Citizenship through Investment” or the Fast Track residency programme not only makes financial sense, but it will tangibly benefit your family for generations to come.
Can you afford not to take advantage of this while the programmes are still open? Cypriot Realty – a proudly South African company in operation for nearly 9 years – can assist you.
We are recognised and respected as Southern Africa’s authoritative offshore investment specialists, promoting Cyprus as an ideal destination for acquiring EU citizenship or permanent residency, property investment, immigration or retirement and starting an EU-based business – we understand investor’s needs.
Contact us for a confidential meeting to discuss how we can help you realise your and you family’s Plan B in Europe.
For more information contact Jenny Ellinas on +27 83 448 8734 email [email protected] Visit www.cypriotrealty.com