Cyprus citizenship program for talents
Published at: 11/12/2023 08:32 am
Cyprus offers citizenship for talents instead of investors. Cyprus' new citizenship program encourages tech talents to stay in the EU Member State.
The Mediterranean island nation suspended its citizenship by an investment program because the European Parliament decided to close all migration schemes that deferred rich people and provided them more rights to become European citizens.
However, Cyprus started a new way of attracting people, which was needed to develop the country. According to the new law, foreigners in the research and innovation sector can apply for "fast-track citizenship".
"The aim is to attract qualified specialists in specific fields. Investing in research and innovation means investing in our country's future, which will have an immense economic benefit." - said Nicholas Papadopoulos MP, who introduced the amendment of the Cypriot Immigration Law to the Cyprus Mail.
What are the requirements of the new Cyprus Golden Knowledge Program?
- The talents who wish to apply for the Cypriot passport must have a working knowledge of the Greek language.
- They must be financially self-sufficient.
- They must have a clean criminal record and be "good character".
- The family members of the talents can also apply if they have been residents of Cyprus for more than a year immediately before the joint application.
- 3 years' of residency if you have a B1 level Greek language exam
- 12 month of uninterruptible stay in Cyprus before the application is filed (short-term foreign trips are permitted)
According to the law, the naturalisation process would take at most eight months. Moreover, the amendment includes safeguards to comply with European legislators. For example, the applicants must be physically present and have real ties to the country.
Why does Cyprus need foreign talent?
All European countries need talented people in various industries, mainly tech. Research and innovation companies in Cyprus create 3,2 billion euros annually, and almost 70% of their employees are Cypriot citizens; more talents are needed.
Discus Holdings Ltd is one of the most experienced companies regarding the immigration processes in Cyprus. Our expert colleagues at our local representation have successfully supported applicants for over two decades. Ask for a consultation here and obtain all the detailed information on how to become a Cypriot under the "Golden Knowledge Citizenship Program!