Settling in Cyprus - Western Citizenship in Just 2 Months

Cyprus not only attracts Vietnamese people but also many citizens from other non-European countries interested in retirement, settlement, or citizenship. Cyprus has become one of the most popular destinations in recent years. To understand more about this country and its immigration policies, let's delve deeper into the content shared below.

Should You Settle in Cyprus?

Cyprus as a Future Gateway for Many

Cyprus is the third-largest island nation in the Mediterranean, also known as the Republic of Cyprus. It is recognized as one of the most attractive countries for retirement and new settlement due to its many outstanding advantages:

Economy

Cyprus has a sustainable economy and is one of the fastest-growing countries in the EU, focusing on service sectors, tourism, and transportation thanks to its strategic geographical location.

Moreover, Cyprus is one of the few countries that does not focus on heavy industry development but instead prioritizes preserving natural landscapes and a clean living environment for its people. This makes life in Cyprus very pleasant.

Education

Current Education System in Cyprus

Education in Cyprus is strategically invested, ranking in the top 3 EU countries for education investment alongside Denmark and Sweden. Cyprus spends up to 7% of its GDP on education annually. The education system here includes five levels, with 9 years of compulsory education and free tuition for students in public schools:

• Preschool: For children aged 1–6, focusing on physical development and forming good habits.
• Primary: For children aged 6–12, providing basic knowledge in languages, science, mathematics, history, arts, geography, music, and physical education.
• Secondary: For students aged 12–18, divided into two stages: lower secondary (gymnasio) and upper secondary (lykio), each lasting 3 years. The goal is to provide foundational knowledge and promote sports and extracurricular activities.
• Post-secondary: For students aged 15 and up after completing lower secondary, aimed at providing basic vocational knowledge and skills.
• University: For students aged 18 and above, focusing on high-quality training through public and private universities.

The education system in Cyprus adheres to European standards, with many schools meeting British standards. Thanks to this, the educational level of Cypriots is very high, facilitating access to high-level jobs and attractive income levels.

Healthcare

Development of Infrastructure in Cyprus

Healthcare in Cyprus is rated by the World Health Organization (WHO) as having a comprehensive care system with public and private hospitals meeting EU standards. The national Ministry of Health strictly oversees healthcare policies, activities, services, and disease prevention.

Healthcare staff are professionally trained at reputable institutions in the UK, providing high-quality health services not only to Cypriots but also to citizens from other countries such as the UK and the Netherlands.

All citizens of the Republic of Cyprus enjoy free public healthcare services. Residents settling in Cyprus also receive social health insurance cards to access free medical services at public clinics in each district.

Culture, Festivals, and Cuisine

Cultural and Culinary Diversity in Cyprus

Cyprus' culture, festivals, and cuisine reflect the confluence of various cultures, thanks to its position at the crossroads of Europe, Asia, and Africa. Cyprus combines ancient civilizations in the Mediterranean region to create a diverse culture, clearly expressed through music, art, festivals, and cuisine.

In music, Cyprus offers various genres from traditional, folk to modern music. Traditional dances like the syrtos, originating from Greece, are popular.

Cyprus' arts scene includes painting, architecture, sculpture, theater, and cinema. The island hosts many museums, galleries, and unique architectural structures like castles, fortresses, ancient churches, as well as modern buildings like hotels and skyscrapers.

Cuisine

Cypriot cuisine is heavily influenced by Greece, Turkey, the Middle East, and many other countries. Famous dishes like Meze, Kebabs, Kleftiko, and Moussaka reflect the richness and diversity of local cuisine. Seafood dishes such as tuna, sea bass, red mullet, along with a variety of vegetables and fruits, are also popular.

Benefits of the Cyprus Green Card

The Powerful Green Card of Cyprus

Due to its excellent living conditions in all aspects, Cyprus is always a destination for many foreign immigrants. When you have a Cyprus green card, you will receive the following privileges:

Residency Rights

When granted a green card for residency in Cyprus, you and your family members have the right to live, study, and conduct business in Cyprus. The green card remains valid even if you have not yet moved to Cyprus, allowing you to stay in Vietnam or other countries. In the first two years, you only need to stay in Cyprus for at least one day.

Educational Rights

Accompanying children are allowed to study for free in public schools in Cyprus or attend British international schools at a cost of only 1/4 – 1/3 compared to Vietnam. College and university students also enjoy an educational environment equivalent to local residents.

Business Rights

Cyprus residents have the right to open businesses, buy and sell stocks, bonds, and real estate just like Cypriot citizens. You can rent out property with an income of 5% per year on the investment or transfer inheritance rights to your descendants.

Citizenship Rights

After residing in Cyprus and meeting the government's conditions, you can apply for Cypriot citizenship. Once granted citizenship, you become an EU citizen with the right to live, work, and invest in any EU country. You can also travel freely to 174 countries and territories worldwide without needing a visa in advance.

Investment Program for Cyprus Residency

Invest to Obtain Citizenship in Cyprus

The Cyprus investment residency program is the only one in the EU that allows foreign citizens to receive permanent green cards through real estate investment. Depending on the investment amount, the government will grant either residency or Cypriot citizenship to the investor.

Investment for Residency Rights

The Cyprus investment residency program allows investors to achieve permanent residency in Cyprus. The investor's children receive free public education equivalent to local citizens.

Investor Benefits

Investor benefits include:

• Freedom to live, study, and conduct business in Cyprus.
• Freedom to travel between Vietnam and Cyprus without a visa.
• Permanent ownership of real estate in Cyprus.
• Children receive free education at public schools until completing secondary education.
• Access to healthcare services through the GESY program at a cost of only 1 EUR per visit and medication.
• Eligibility to apply for Cypriot citizenship after five years of residency.

Investment Conditions

European immigration opportunities in Cyprus

To receive a Cyprus green card under government regulations, the conditions include:

• The applicant must be at least 18 years old and have a clean criminal record.
• Must provide evidence of an annual income of at least 50,000 EUR (approximately 1.3 billion VND); 15,000 EUR for a spouse and 10,000 EUR for each dependent child.
• All members aged 18 and over must meet Cyprus security clearance conditions and update their records every three years.
• All family members must have health insurance covering inpatient and outpatient care.
• The applicant cannot work for a business in Cyprus unless holding a director position in a company invested in through capital contribution to receive a green card.
• Must enter Cyprus at least once every two years.
• Dependent children under 18. Children aged 18-25 can be considered dependents if unmarried, financially dependent on the applicant, and enrolled in university or higher education programs with at least six months remaining from the application date.

Investment Methods

Family Residency Investment

To obtain a Cyprus green card, the investor must invest a minimum of 300,000 EUR (excluding VAT) in one of the following four areas:

• Purchase of residential property or apartments.
• Purchase of commercial real estate such as offices, hotels, shops, similar development projects, or mixed commercial real estate projects.
• Purchase of shares in companies registered and operating in Cyprus, employing at least five staff.
• Investment in Cypriot investment funds like AIFLNP, AIF, RAIF.

Investment Process

The investment process for settling in Cyprus includes the following steps:

1. Evaluate the ability to meet the conditions.
2. Prepare the application and investment capital.
3. Submit the application to the investment center.
4. Conduct a survey of the real estate project, business, or investment fund.
5. Transfer the investment capital, purchase real estate, or shares.
6. Receive the investment certificate and ownership rights to shares or real estate.

Investment Program for Citizenship

Investment for Citizenship in Cyprus

The Cyprus investment citizenship program allows applicants to become EU citizens and enjoy many important benefits in this region through real estate investment.

Citizenship Benefits

Cypriot citizenship benefits include:

• No visa or e-visa required for travel to 174 countries worldwide.
• Freedom to live, work, and invest in any EU country.
• Permanent ownership of real estate in EU member countries.
• Children receive free education at public schools until completing secondary education.
• Free medical treatment rights in EU member countries.

Investment Conditions

Requirements for the Cyprus Investment Immigration Program

The conditions for the Cyprus immigration program through investment are more stringent than those for obtaining residency. Specifically:

• Meet the legal and health conditions set by Cyprus.
• Provide documents proving the transparency and legality of investment funds.
• Provide evidence of total assets worth at least 2.2 million EUR. If there are dependent family members, the minimum asset value must be 2.7 million EUR.
• Have a residence permit in Cyprus for at least six months before completing the citizenship application.
• Dependent children must be under 28 years old and unmarried.

Investment Methods

Obtaining citizenship to live in Cyprus

To obtain citizenship, the investor must invest a minimum of 2 million EUR (approximately 53.8 billion VND) in single or joint real estate and maintain it for at least five years. After five years, the investor must maintain ownership of real estate worth at least 500,000 EUR. If accompanied by a spouse or parents, the investor must invest an additional 500,000 EUR in real estate from the beginning.

In addition to real estate investment, the investor must donate 100,000 EUR to the Research & Development Fund and 100,000 EUR to the Cyprus Land Development Organization.

Investment Process

The process for obtaining Cyprus citizenship through investment is similar to that for obtaining residency rights, including the following steps:

• Assess the ability to meet the required conditions.
• Prepare the application and investment capital.
• Submit the application and documents to the investment center.
• Survey the real estate project.
• Transfer funds to purchase real estate.
• Receive the ownership certificate and use rights of the real estate.

Cyprus Residency Costs

The costs of settling in Cyprus include not only the specific investment amounts for each investment program such as the green card and citizenship but also the following fees:

• Residency fee: 500 EUR.
• Application fee for residency: 500 EUR/person.
• Registration fee for the residency card for people aged 18 and over: 70 EUR.
• Residency certificate issuance fee: 180 to 220 EUR/person.

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