Country | MALTA | CYPRUS |
Population |
|
1,207,359 |
GDP (PPP) |
|
$24.568 billion |
Currency |
|
Euro (€) |
Program |
OR Malta Individual Investor Program (MIIP) |
Citizenship by Investment in Cyprus |
PROGRAM BENEFIT |
Right to reside, work and travel freely within the EU |
EU freedoms, settlement, Schengen mobility and excellent visa free travel Right to reside, work and travel freely within the EU |
Languages |
|
Greek, Turkish Also, English, French and German are widely spoken |
Language proficiency tests |
|
No language proficiency tests |
Restricted countries |
|
N/A |
Family members: Spouse Children parents |
Yes
Yes
Minor children,and unmarried dependent adult children under age 27.
Yes (under certain conditions).
|
Yes Yes Minor children (under age18 ) and (students under age 28). Yes (under certain conditions). |
Model |
Contribution + Mixed Investment
|
Mixed Investment
|
Minimum investment: Contribution Government Bonds Real Estate |
€ 900,000
€ 650,000
€ 150,000
Min. Rent €16,000 yearly or Purchase min. €350,000
|
€ 2,000,000
0
€500,000 (Optional)
€500,000
|
Additional Investment |
|
€1.5 million min. investment in real estate / €2 million in a combination of investments |
TERM OF INVESTMENT Contribution Real Estate Government Bonds |
Non - Refundable
5 years
5 years
|
Not Applicable 3 years (but must retain possession of a permanent residence of at least €500.000 for life). 5 years for bonds and stocks (Optional). |
EU membership |
|
Yes |
Schengen membership |
|
No |
Time to Citizenship |
Citizenship approved after 4 months processing time. A total of 12 months to issue passport (inclusive of processing time) from the date of initial residency. |
Approval in Principle- 3 months. Once investors have held their PR cards for a total period of six months their new Passports/ID’s can be collected in Cyprus or at a Cyprus embassy. |
Passport validity |
10 years
|
10 years |
Health insurance |
|
Coverage must for a minimum of EUR 50,000 per dependent |
Personal visit (Physical Residence) |
|
One visit every 7 years |
Permanent Living(Do you need to reside there) |
No | No |
Program limits |
|
700 applications |
Refusal rates |
one in three applicants | Low |
Dual citizenship |
|
Dual-citizenship permitted and the acquisition of citizenship in Cyprus is not reported to other countries |
Visa free travel countries |
|
174 countries and territories |
Visa not required and / or eVisa / Visa on arrival |
Canada, EU member states, New Zealand, Qatar, Russia, Saudi Arabia, United States, Visa Waiver Program United Kingdom |
Australia, Canada, EU member states, New Zealand, Russia, Saudi Arabia, United Kingdom |
Visa required |
China, Iraq, North Korea, Yemen, |
China,
Iraq,
North Korea,
United States
|
Taxes |
Residence for tax purposes is established by demonstrating an intention to reside in Malta indefinitely and definitely on the basis of a day count of 183 days |
An individual is considered to be a tax resident in Cyprus, if she/he resides in Cyprus for a period which in aggregate exceeds 183 days. |
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