TRAVEL ADVISORY
HARVEY LAW GROUP
GOLDEN
ROUTE
TO CYPRUS
DESCRIBE THE IMPORTANCE OF HAVING A GOLDEN PASSPORT.
The “golden passport” is a second passport acquired via government-approved programs that, in return for a dedicated investment, grants the investor and qualifying family members full citizenship with a right to apply for a passport in particular country.
From an investor’s perspective, the importance of these programs resides in the benefits attached to becoming a citizen of that country. The most enticing of there include visa-free travels and global mobility, are solved.
The second passport also addresses security issues for the applicant’s family, as well as the education of their children, unstable politics, downward trends in civil or social rights, and quality healthcare for the aged.
WHY SHOULD APPLICANTS CONSIDER CYPRUS AS THEIR SECOND COUNTRY?
Clients often consider Cyprus because of the attractiveness of its citizenship-by-investment program. The balance of initial investment and its potential return, along with the benefits associated with the citizenship make it a preferred option. In addition, Cyprus is one of the safest and cleanest countries in the world, along with having amazing food and lovely scenery.
The Cyprus passport is among the most powerful in the world since it grants visa-free access to over 170 countries including Canada, New Zealand, the United Kingdom, and the Entire European Union (EU).
Cyprus has been part of the EU since 2004. This enables Cyprus passport holders to travel, live, work, study, do business and enjoy the social benefits that come with EU membership. Conveniently, the Cyprus citizenship program doesn’t require the applicant or the qualifying family members to reside in Cyprus.
WHAT ARE THE INVESMENT POTENTIALS IN CYPRUS?
Applicants for the Cyprus citizenship program must invest at least EUR 2,000,000 into real estate to be held for five years. They must also contribute EUR 150,000 to designated government funds. Upon approval, the applicant, now considered a citizen of Cyprus, will be able to purchase or invest in any industry. In term of investment potential, we often provide our clients with complimentary reports from top multinational accounting law firms.
COMMON MISCONCEPTIONS ABOUT THE GOLDEN PASSPORT
1. IT DOES NOT SEEM LEGAL
The countries offering their programs have gone through the lengthy process of amending their constitution and providing laws and regulations. They have also undertaken due processes to grant citizenship through investment programs.
2. IT IS SIMPLY A CASH-FOR-PASSPORT SCHEME
On the contrary, the process involves several steps and requires certified documents. Aside from the paperwork, the applicant must undergo a strict due diligence process conducted by our firm and also get medical clearance to qualify.
3. ONLY CRIMINALS AND FUGITIVES OF JUSTICE HAVE SECOND PASSPORTS
Not at all. First, applicants and their families are subject to thorough due diligence from both our firm and the government of the chosen country. Second, if shady individuals tried to apply for a second passport, they wouldn’t even pass the first step of the process. Finally, having a second passport is for everyone. Some countries provide citizenship via investments of as little as USD 100,000.
4. I LOVE MY HOME COUNTRY AND I DON’T WANT TO RELOCATE
Most countries providing citizenship-by-investment programs do not require applicants to relocate. The applicant and his or her family may stay in their home country and process their application through HLG. They will then receive their second passports without the need for residency in the chosen country.
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