For the second year in a row, Cyprus was ranked as the best country in Europe for acquiring second citizenship and passport in return on investment.
CBI Index – ranking system that evaluates active citizenship by investment programmes
The countries that offer second citizenship by investment, these are the top 13 and their scores out of 100:
1. Dominica – 90
2. St Kitts and Nevis – 85
3. Grenada – 81
4. Antigua & Barbuda – 80
5. Saint Lucia – 79
6. Vanatu – 78
7. Cyprus – 66
8. Malta – 63
9. Bulgaria – 61
10. Turkey – 61
11. Austria – 54
12. Jordan – 54
13. Cambodgia – 53
Countries were ranked on the “seven pillars of CBI”:
- Freedom of movement
- Standard of living
- Minimum investment outlay
- Mandatory travel or residence
- Citizenship timeline
- Ease of processing
- Due diligence
Cyprus is the third largest island of the Mediterranean Sea, and is only a short boat ride away from both Greece and the Middle Eastern nations of Turkey, Syria, Lebanon, Israel and Egypt.
The population of Cyprus is estimated to be around 1,165,000, with majority ethnic groups being Greek-Cypriot and Turkish-Cypriot. Recent migration trends have also seen large numbers of foreign communities residing on the island, including many Greek, British, Russian, Chinese individuals.
Cyprus has a strong economy, characterized by little unemployment. Its low tax and inflation rates have made Cyprus a desired destination for offshore companies and the relocation of assets, thus attracting foreign investment.
Why choose Cyprus?
Cyprus boasts a rich and diverse culture, mild Mediterranean climate, and a safe and stable setting ideal for raising families. Investors also look at Cyprus for business and investment purposes, recognizing numerous investment opportunities.
The benefits of the Cyprus citizenship via investment are plenty:
- Fast-track procedure. Approval of citizenship application within three months;
- Simultaneous submission of residency and citizenship applications.
- No physical residence requirements. The only requirement is one visit every seven years.
- No language requirements.
- Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
- No obligation to relinquish current nationality.
- Low tax rates and free trade within the EU.
- Unrestricted right to live, work and study in Europe.
- Right to own property in an EU member state.
- Strategic geographical location forming a bridge between the EU, Middle East and North Africa with direct access to the Mediterranean Sea.
- Safest country in the world with a population under 5 million.
- Excellent education system as well as first-rate health care.
- An outstanding holiday destination.