The concept of dual citizenship has been on the rise in the past few years. With globalization on the rise, people are having ambitions of becoming international citizens. One region that has always been a magnet for international citizens has been the European Union. The EU is known for its high quality of life and the strong industrial base. In this article, we will look at the concept of citizenship by investment and why you should consider it.
What is citizenship by investment?
There are various ways in which you can become a citizen of another country. You can apply for an asylum if you are facing persecution in your home country. You can apply for citizenship from the government. However, many governments are not open for the idea of granting citizenship to people. This is simply because they have their own population to worry about. To solve this problem, a number of countries have embarked on a program that allows people to ‘buy’ citizenship. This is a process through which people get citizenship by investing in the country. In this case, both sides benefits. The person gets his citizenship and the government gets its investments.
Cyprus passport by investments
Cyprus is one of those country that has started offering the passport. The country does this because it does not have vast natural resources. Therefore, by welcoming international citizens, the country is able to get the funds it needs to develop. Over the years, the country has received more than $4.4 billion using these programs. This is a lot of money especially for a country whose population is less than 1 million people.
The benefits of the citizenship by investment in Cyprus is the access to the European Union. Another advantage is that your family too will become citizens of Cyprus without losing citizens of your home country. Also, as a citizen, you get to do business in one of the best-rated countries for doing business in the world. You also get to live in a historic location that has some of the best beaches in the world.