Cyprus is a diverse country regarded as the sunniest nation on the European continent, with several outdoor activities accessible. It is also recognized for its citizens’ good and high standard of living, with the lowest crime rates in the European Union. Therefore, individuals are normally keen on how to get the best possible deal and extra perks when it comes to passports and the advantages of holding a specific passport. Each country’s passport has both strong and weak points, and so has Cyprus, which has numerous benefits to provide.
Some Of The Advantages Of Acquiring The Cypriot Passport Are
1. Tax Benefits
Cyprus has signed double taxation treaties with over 60 countries worldwide, preventing citizens with dual nationality from being taxed twice. Moreover, the procedures for company registration with the appropriate authorities in Cyprus can be completed in as little as 4-5 working days and cost-effectively. Thus, the international businesses operating in the region frequently select Cyprus as a base and incorporate it into their tax-structured plans. Moreover, Cyprus imposes no wealth, gift, inheritance, or immovable property taxes.
2. Educational Benefits
As a Cypriot, you have the opportunity to pursue your education at any EU university under the same conditions as a local. Tuition fees for EU citizens are reasonable or even entirely waived, whereas those for non-EU citizens are much higher and require additional paperwork. Over 1,300 institutions offer high-quality educational programs.
3. Travel Freely
Cyprus has been a member of the European Union since 2004, bringing with it a slew of advantages, including visa-free travel to 173 countries around the world. More than ever, freedom of movement is essential for providing safety, opportunities, and stability to oneself and one’s family. A Cypriot Passport allows you to freely travel around the country to enrich your life and life and work in other EU countries. On the whole, the passport seems to be quite strong, with a coefficient of 8 in the 2019 Global Passport Index. In addition, the passport issued by the European Union brings numerous advantages to the overall travel process, such as providing a meal and lodging if a flight is delayed.
4. Dual Citizenship
Cyprus recognizes dual citizenship. Someone who does not wish to renounce their initial citizen status is not required to do so when obtaining Cyprus citizenship.
5. Transfer of Cyprus citizenship
Whether you have dependent children under the age group of18 years when your citizenship is accepted, then by virtue of you being a citizen, become one, and no separate application is further required. Besides that, your kids or their kids born after they obtain Cyprus citizenship will naturally be Cypriot citizens. Cyprus citizenship is automatically transferred to the additional new family members without the need for additional paperwork or application.
6. Employment benefits
Working in the EU as a passport holder has various benefits. It is possible to travel and work within the European Union with a Cypriot passport. As a result, EU residents may work and live in other EU nations with their families, which is a major advantage. Additional benefits include sick leave and job-seeker allowances in Cyprus.
Whenever it comes to health care, Cyprus follows and enforces EU laws as well as safe practices. The island has recently introduced GeSY, a new healthcare model on the island which provides comprehensive and sustainable healthcare. A Cyprus passport gives access to quality medicines and treatments Europe will have to offer and its advanced health care system.