Dual citizenship means that you have citizenship of two countries, with all of the associated rights – and obligations. Dual citizenship of a country with a good international reputation, like Cyprus, offers many benefits for high net worth individuals.
Dual citizenship has nothing to do with national loyalty – it is simply a legal way to protect yourself, your family, and your assets from unexpected events. In reality, a second citizenship and second passport are like insurance. When you really need it, it could be too late.
A Cypriot passport makes travel effortless in the European Union and much easier for those wanting to travel wider afield.
Holders of a passport issued in an EU country are entitled to enter, reside, study or work in any country within the European Economic Area (that is, EU countries plus Iceland, Liechtenstein and Norway), as well as Switzerland – without the need for a visa.
In addition, holders of Cypriot passports can travel visa free to more than 140 countries.
Now, third country nationals who buy property in Cyprus for personal occupancy are favoured in regard to the obtaining of permanent residency permits, enabling their full or part time stay in Cyprus. This incentive applies to non-EU nationals acquiring property for personal occupancy in Cyprus of a value not lower than €300,000 + VAT and falls under the name of Category F Visa.