A recent report conducted by the Financial Times Professional Wealth Management Group with regards to citizenship by investment programs around the world shows that Cyprus has the most attractive program in the EU.

The investment schemes of 12 countries were studied and Cyprus came 7th overall and 1st among EU countries. Dominica took the 1st place with an overall score of 90%, while Bulgaria, Austria and Cambodia took the last places.

The elements that had been taken into account during the drafting of this report were:

1.    Freedom of movement;

2.    The minimum amount that must be invested;

3.    Residence or travel requirements;

4.    Time required for citizenship to be obtained;

5.    Ease of process;

6.    Due diligence required;

7.    The standard of living. 

Cyprus scored 67% overall and took the 7th place from all countries examined, while it scored higher than the EU countries that were also studied by the Financial Times Professional Wealth Management Group, namely Malta, Austria and Bulgaria.

On a scale of 1-10 with 10 being the highest, Cyprus scored high marks in several factors. In particular, a significant key element that led Cyprus to obtain such a position worldwide is the freedom of movement. In this factor, Cyprus obtained an almost perfect score (9 out of 10) as Cyprus offers visa-free or visa upon entry travel to more than 160 countries worldwide, while, simultaneously, as a EU member offers the advantage that the foreign investors can live, work and travel in all EU members.

Cyprus received a score of 8 out of 10 in regards to both the standard of living and the time required to obtain the citizenship. In addition, Cyprus scored 7 for the residence or travel requirements. Cyprus does not require from the investor to live in Cyprus either before the filling of the application or after acquisition of the Cypriot citizenship.

Furthermore, since the Cypriot program does not provide history or language proficiency tests or health requirements in order to obtain the citizenship, Cyprus received a score of 7 for the ease and straightforwardness of the procedure.

The Financial Times Professional Wealth Management Group’s report is a testament that Cyprus offers one of the most attractive citizenship by investment schemes in Europe and in the world. 

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