Global connectivity has emerged as one of the most relevant driving forces of today’s fast transforming socio-political climate. The world has transcended geophysical barriers, and virtually every corner of the globe is now accessible to one and all. The frequency and volume of international travel, be it for business or recreational purposes, have soared up significantly. As opportunities in finance, education, diplomacy, and lifestyle are now predominantly cosmopolitan, the vast majority of individuals require the ability to travel across borders.
However, transnational travel limitations due to political regulation present a potential restriction to international travel, in spite of all the progression seen in the domain of global connectivity. Therefore, a passport with a robust ranking in the global index, which affords the holder visa free travel, has become exceedingly sought after and is considered a valuable possession. By virtue of a highly ranked passport, doors to more number of countries get opened for an individual not only for touristic interests but also for business and academic concerns.
The expansion of globalized markets has made it imperative for individuals to look beyond the horizon of their own country. Also, rarely can enterprises survive in isolation these days. Consequently, international travel is not only desirable but also necessary. The ease of international travel is fuelled by healthy international relations between the origin nation and the destination of potential travel. A high passport ranking is a measure of an impressive global standing, and according to several lists, the Cyprus passport index positions itself among the top ranks worldwide.
The Cyprus citizenship benefits are not only constrained to the travel perks it brings along. Life in Cyprus offers a holistic package of luxury and comfort. This picturesque island in the Mediterranean boasts a convenient location between the continents of Europe, West Asia and North Africa, therefore providing residents with a rich history and stunning natural beauty surroundings. Rich with white sand beaches and picture-perfect waters, Cyprus lends itself perfectly to outdoor activities, alongside the pursuits of travelling across lush meadows, vineyards and mountain ranges.
In addition to its many awe-inspiring resources, Cyprus also has a booming economy and dynamic culture. It is an attractive destination to investors and entrepreneurs in particular, owing to its political climate and location. Productive sectors in the country include tourism and shipping, with liberal immigration and taxation policies facilitating business ventures. As a result, more and more individuals with a high net worth are seeking out Cyprus as the setting for their second homes.
If its leisure and business advantages weren’t enough to convince you, then you should note that Cyprus has also been deemed the fifth safest country in the world, as well as delivering amongst the finest law and order and health care sectors in the world. With this wealth of benefits accessible through its simple and hassle-free citizenship programs, it’s no wonder that Cyprus received a 5th place ranking as the best countries for relocation in the world by the Frank Knight Global Lifestyle Review, further boosting the Cyprus passport ranking.
Global Passport Index
The passport index is a hugely popular interactive tool which gives an insight into the rankings of different passports in terms of their recognition, travel and career opportunities, mobility, and overall quality. The portals usually collect data from the available resources like IATA and government agencies about the passport acceptability pertaining to the immigration policies of different countries and then compare the passport of a particular nation with others. Further, following a specific methodology, they rank the passports according to the number of nations which allow visa-free or visa on arrival travel to the holders of a particular passport.
Often, the portals refer to the United Nations Human Development Index report to deduce the global perception of the countries. The Henley Passport Index, Arton Capital, and Ceoworld are some of the most popular passport indexes.
Passport index portals are an extremely reliable factor while doing citizenship planning and in evaluating the possibility of applying for secondary citizenship for either business, career, or recreational purposes. They provide an opportunity to compare the regional trends alongside the progress reports of particular countries. Currently, at world rank 8, the Cyprus passport ranking has recorded a steady rise in the recent years with its membership to the European Union in 2004 and the Eurozone in 2008. Moreover, with the development of Cyprus’ citizenship by investment program, various high network individuals from different corners of the world have grown attracted to the Cypriot passport. This has enhanced its visibility on the global map.
Passport indexes also enable applicants to compare and assess which passports have more influence regionally. Cyprus has an overall visa score of 161, granting visa-free travel to 122 nations and visa on arrival to 39 nations, placing the Cyprus passport among the top ten powerful passports, giving passport-holders access to most of Europe and North America, including the U.S. However, it leaves out a significant chunk of the Middle East and South-East Asia. By enlisting such insights, passport indexes empower applicants to make an informed choice when applying for the passport of a particular country. It also provides information about further strengthening passport power by identifying countries that suit the goals as well as match the profile of the candidate. With the help of the passport indexes, applicants may greatly improve their global mobility without the hassle of immigration formalities or additional expenditures towards visas and other related travel permits.
Cyprus Passport Index
As one of the most sought after migration destinations, the Cyprus citizenship and residency programs have evolved into dynamic and sophisticated gateways to an effective secondary citizenship. Numerous portals emphasize on the Cyprus passport Index and delve deep into what Cypriot citizenship holds for the applicants. Several well-reputed global passport indexes have endorsed the Cyprus passport strength.
Arton Capital’s Passport Index 2019 collects data from authentic sources, conducts field analyses, and bases their critical findings according to different categories vis-a-vis speed of processing the application, costs involved and simplicity of the application, as well as the quality of life and the prospect of global mobility once citizenship has been granted. According to the Arton Passport Index, Cyprus passport ranking is currently held at world rank 8, way above otherwise dominant world powers. Further, when it comes to countries offering citizenship by investment, it holds the second position globally with visa-free travel to 122 countries and on-arrival visa to 39 countries.
Similarly, among the other portals, the Henley Passport Index Report 2019 highlights the global trends in terms of passport strengths and follows a specific methodology to derive the rankings. The Henley Passport Index emphasizes on Cyprus passport strength by highlighting the access it provides. This comprehensive report not only offers an insight into the relative position of one nation versus the other but also demonstrates the regional trends and the factors that trigger such patterns. The index is made in accordance with the data supplied by the International Air Transport Authority or IATA and engages in rigorous research and monitoring to maintain the accuracy of the information. Such Global Passport Indexes have time and again been used by international organizations and governments across the world for their respective reference and have enabled the applicants of acquired citizenships to make a wise and informed choice.
Why Apply For A Cyprus Passport
As visible from the Cyprus passport ranking, possession of a Cypriot passport ushers innumerable benefits. Firstly, Cyprus facilitates engagements from overseas organisations and foreign investments through its free-market economy, alongside a legal framework that is clear and transparent. In regards to passport power, the Cypriot passport enjoys a global ranking in 8th position, providing holders with visa free travel across 122 nations and a further 39 countries accessible with visa on arrival. Trends predict that with the rapid rise in the economy of Cyprus, the Cyprus passport index will soon climb up the ranks further.
As a member nation of the European Union (EU), as well as the Commonwealth of Nations and the Eurozone, the citizens of Cyprus can pursue travel, educational or lifestyle opportunities in all EU member states without the worry of permit or visa restrictions. These unique advantages provide unlimited access to professional and educational opportunities.
Apart from the Cyprus passport ranking, citizenship programs in Cyprus are also in demand because they are considered to be among the fastest and the most legitimate routes to acquiring EU citizenship with relatively basic eligibility requirements and expenditures.
Benefits of a Cypriot Passport
- The Cyprus citizenship application follows a fast-track procedure with the approval of the application occurring within approximately six months.
- High Cyprus passport rankings allowing visa-free travel to 122 countries and a provision of on arrival visa in 39 countries.
- Cyprus accords the candidates a chance to submit the residency and citizenship applications simultaneously.
- No language requirements are to be met to be eligible.
- The principal applicant can include the parents in the application, provided they qualify on the grounds of owning a house valued at €500,000 + VAT or a share of €500,000 in residential property of the principal applicant.
- Individuals in civil unions are eligible to submit applications.
- The candidates are under no obligation to forgo their original nationality or citizenships unless their native country requires them to do so.
- Cyprus offers low tax rates and free trade opportunities within the EU.
- Cypriot citizens have an unrestricted right to live, work, and study anywhere in Europe.
- Cypriot citizens may rightfully own a property or an establishment in any of the member nations of the EU.
- It is located strategically at the crossroad of Europe, the Middle East, and North Africa with direct access to the Mediterranean Sea.
- It is ranked among the safest countries in the world with a population below five million.
- It also has superior education systems and healthcare facilities.
- A delightful country, blessed with natural splendors and an agreeable climate all around the year.
Eligibility for a Cyprus Passport Requirements
Although the Cyprus passport strength is among the highest in the world, the process of acquisition of Cypriot citizenship is straightforward and hassle-free. To ascertain the credibility of the applicants, the authorities conduct a thorough background check and verify if the applicant holds a clean criminal record or not. That aside, the other criterion revolve mostly around the applicant’s capacity to make the recommended investments.
The financial requirements mainly involve the acquisition of a property in Cyprus of a minimum value of €300,000, excluding the applicable taxes. Further, the applicant needs to demonstrate a steady annual income abroad that can sustain the applicant and all the dependent family members, over and above any revenue generated within Cyprus. Applicants are also required to invest in a three year fixed deposit in Cyprus in order to be eligible for a Cypriot passport. The investment routes for Cypriot citizenship are relatively flexible. Besides a compulsory investment in the country’s Research and Innovation Fund as well as the National Development Fund, the applicants may opt for any of the available investment routes. The applicants may choose to invest in a real estate asset or any business ventures or any government stocks and bonds. Alternatively, applicants are also allowed to use a combination of the plans as mentioned earlier to make the necessary investment.
Such investments may be channelized through either the Cyprus Citizenship by Investment Program or the Cyprus Permanent Residence program, both of which offer a specific set of benefits. Further, the dual citizenship provision enables the applicants to utilize the Cyprus passport strength while retaining their original passport.
Cyprus Citizenship and Residency Programs
Applicants seeking a Cypriot citizenship via the citizenship by investment program are required to make a €2 million investment in local real estate. One unique advantage of this program is the rapid processing of applications, with candidates receiving their citizenship grant within a six month period of making this investment.
Alternatively, candidates can choose to invest €2 million in equities, bonds or other investment funds which have been sanctioned and licensed by the Cypriot government. Often, applicants choose to split their financial contribution between these government funds and a property investment.
This grants an applicant with a Cyprus passport, in addition to citizenship of an EU member nation. Accordingly, they also get to enjoy the freedom to travel, live, work and study in any EU country, including countries such as Germany, France, and the UK.
Citizenships in Cyprus acquired through the investment programs are available to the main applicant’s dependant family members. They are also not required to forfeit or lose their native nationality. Furthermore, the program provisions allow for the benefit of returned investment, with the investment amount falling to €500,000 after a three year period.
Candidates can enjoy permanent residency in the country through a property investment. As one of the most straightforward and speediest programs, the permanent residency program for citizenship by investment Europe simply requires a €3000,000 real estate investment to receive a Cypriot residency permit. Within just a two month period, the processing of the residency visa can be complete. This extends to the main applicant’s entire family, including their parents, spouse and any dependent children under the age of 25, can be passed onto their dependents and remains valid for an entire lifetime.
Fuss-free travel throughout the EU is just one of the many advantages afforded through the permanent residency program, with only a single visit to Cyprus per two year period being required. This differentiates the program from other similar residency programs which demand much more long-term commitments in regards to residency in the country.
Candidates do not need to make the investment from their own pocket but can instead contribute payment via any organisation which has themselves and their spouse as benefactors. You are also permitted to invest in up to two properties with a value of €300,000, although these real estate purchases must be new and there is no option to rent property within this program.
Why Global Mobility Is Important
The creation, progression and preservation of wealth is reliant on international travel in the age of globalization. Since certain countries offer better career and educational opportunities than others, travel across borders is becoming a more frequent trend.
Commonly, those individuals travelling internationally are affluent and seeking a location that can provide their desired lifestyle, although some migration is enforced due to instability, conflict or natural issues in certain instances. Regardless of the reasons behind the move, different nations provide varying levels of flexibility for entrants to the country. An essential part of stimulating international mobility is the global ranking and passport index, with access to countries being enhanced by liberal visa policies or waivers of visas altogether.
Higher ranking passports tend to provide holders with significantly more advantages than those with passports that rank lower when it comes to facilitating business deals, admission to academic institutions, or generating off-shore assets. Globalized economies also commonly require high net worth individuals to maintain bases across multiple destinations for a wide array of reasons. This leads individuals to seek access to foreign territories, and acquiring secondary citizenship has been deemed the most gainful process to meet such needs. Given that several nations have the provision of acquiring citizenships by investment, choosing the right citizenship is critical. An influential passport, as may be gauged from the global passport indexes, is one of the most vital determinants of the most suitable secondary citizenship.
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