EU Citizenship for sale in Cyprus it seems.

[BelizeFinancial]

On a random website I came across I read the following:

Oneworld MidEast is specialist in Citizenship by Investment Programs for Cypriot Passports. We can accommodate the issuance of a Cyprus passport through our Cyprus fiduciary arm within 2 months. The applicant and family do not have to reside in the country or give up their current nationality and they obtain the citizenship purely by investment.

My question is, what are the costs and what is required to get this passport and citizenship in Cyprus? Anyone has tried this?

 

[pimonte]

Criteria
There are a six investment ways which enable an investor to apply for naturalization.

A foreign investor may apply for naturalization if he or she meets ANY ONE of the below criteria 1 to 6 AND the CONDITIONS that follow:

1. Investment in government bonds
The applicant must have purchased state bonds of the Republic of Cyprus of at least €5mn.

2. Investment in financial assets of Cypriot companies or Cypriot organizations
The applicant must have purchased financial assets of Cypriot companies or Cypriot organizations (bonds/securities/ debentures registered and issued in the Republic of Cyprus) of at least €5mn.

3. Investment in real estate, land development and infrastructure projects
The applicant must have made an investment of at least €5mn for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector or other infrastructure projects).

4. Purchase or creation or participation in Cypriot businesses or companies
The applicant must have made an investment of at least €5mn in the purchase, creation or participation in businesses or companies, that are based and operating in the Republic. These businesses or companies should evidently have a presence in Cyprus and employ at least five (5) Cypriot citizens.


5. Deposits in Cypriot banks
The applicant must have personal fixed term deposits for 3 years in Cypriot banks or deposits of privately owned companies or trusts (in which he/she is the beneficial owner) in the Republic of Cyprus of at least €5mn.

6. Combined criteria
On the basis of a combination of the aforementioned Criteria 1-5, to the investor owns property in Cyprus worth at least €5mn.


Conditions
In addition to any one of the above, the investor must:

a. be at least 30 years of age
b. have clean criminal record
c. hold a confirmation that he or she is not included in the list of persons whose assets in the EU are subject to sequestration,
d. own a house worth at least €500.000 plus VAT, which is used as permanent residence

Timing, fees and services
Our fees are set out below and cover collecting and preparing relevant documentation, assistance with implementation of the prescribed choice of investment route, filing the application and liaising with the Cyprus Authorities.

The time frame of obtaining the citizenship will take around two months and the steps to be followed are listed below:

• Review and selection of qualifying investment
  
• Preparation of the application
  
• Submission of the application
  
• Acquire pre-approval from Ministries
  
• Citizenship application submitted to Government
  
• Issuance of Cypriot Citizenship Certificate

Our fees of €30.000 cover the application for the applicant and spouse (if applicable), the legal review and preparation of legal documentation, that might be required depending which investment option in decided upon. The above costs exclude VAT, stamp duties, transfer fees etc in case the real estate investment


option is chosen.

 

[JohnLocke]

Thanks for sharing, the fee may vary from Agent to Agent the rest of the information is absolute valid :icon_cool:

 

[sanches]

someone tried ?

 

[averagejoe]

I think with the capital requirement it is only rare that someone is going that route there are cheaper and better option to enter the EU border for instant in Malta and the UK, Germany has also some methods.

 

[BelizeFinancial]

Really complicated and not cheap I say! Other countries where it's easier maybe?

 

[JohnLocke]

Really complicated and not cheap I say! Other countries where it's easier maybe?

You may look into St. Vincent (search the forum) Panama or Costa Rica where it may be possible!

 

[neilbhabuta]

Looks really interesting... Anyone tried this?

 

[Jack Dui]

I think with the capital requirement it is only rare that someone is going that route there are cheaper and better option to enter the EU border for instant in Malta and the UK, Germany has also some methods.

Germany is my best choice.

 

[myoffshoreliving]

Our fees of €30.000 cover the application for the applicant and spouse (if applicable), the legal review and preparation of legal documentation, that might be required depending which investment option in decided upon. The above costs exclude VAT, stamp duties, transfer fees etc in case the real estate investment

Does this covers the entire license process including company formation?

 

[Rahul shetty]

I think it is a false statement. Every website have their own point of view. That doesn't mean that it is true

 

[johnskywalker]

Well my question to your question is, it this even legit? A company that sells a citizenship for a person who really does not live in EU? I think its a hard sell and pure BS. Yet if anyone have tried this, I'm pretty sure its illegal..

 

[waltercrane]

Criteria
There are a six investment ways which enable an investor to apply for naturalization.

A foreign investor may apply for naturalization if he or she meets ANY ONE of the below criteria 1 to 6 AND the CONDITIONS that follow:

1. Investment in government bonds
The applicant must have purchased state bonds of the Republic of Cyprus of at least €5mn.

2. Investment in financial assets of Cypriot companies or Cypriot organizations
The applicant must have purchased financial assets of Cypriot companies or Cypriot organizations (bonds/securities/ debentures registered and issued in the Republic of Cyprus) of at least €5mn.

3. Investment in real estate, land development and infrastructure projects
The applicant must have made an investment of at least €5mn for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector or other infrastructure projects).

4. Purchase or creation or participation in Cypriot businesses or companies
The applicant must have made an investment of at least €5mn in the purchase, creation or participation in businesses or companies, that are based and operating in the Republic. These businesses or companies should evidently have a presence in Cyprus and employ at least five (5) Cypriot citizens.


5. Deposits in Cypriot banks
The applicant must have personal fixed term deposits for 3 years in Cypriot banks or deposits of privately owned companies or trusts (in which he/she is the beneficial owner) in the Republic of Cyprus of at least €5mn.

6. Combined criteria
On the basis of a combination of the aforementioned Criteria 1-5, to the investor owns property in Cyprus worth at least €5mn.


Conditions
In addition to any one of the above, the investor must:

a. be at least 30 years of age
b. have clean criminal record
c. hold a confirmation that he or she is not included in the list of persons whose assets in the EU are subject to sequestration,
d. own a house worth at least €500.000 plus VAT, which is used as permanent residence

Timing, fees and services
Our fees are set out below and cover collecting and preparing relevant documentation, assistance with implementation of the prescribed choice of investment route, filing the application and liaising with the Cyprus Authorities.

The time frame of obtaining the citizenship will take around two months and the steps to be followed are listed below:

• Review and selection of qualifying investment
  
• Preparation of the application
  
• Submission of the application
  
• Acquire pre-approval from Ministries
  
• Citizenship application submitted to Government
  
• Issuance of Cypriot Citizenship Certificate

Our fees of €30.000 cover the application for the applicant and spouse (if applicable), the legal review and preparation of legal documentation, that might be required depending which investment option in decided upon. The above costs exclude VAT, stamp duties, transfer fees etc in case the real estate investment


option is chosen.

Thank you for this information bro. It really helps me choose my decision in Cyprus.