Recently, the Cyprus Mail, a widely circulated local English-language newspaper in Cyprus, reported that Cyprus submitted its application to join the Schengen Area in September. Note: The application has been submitted and is awaiting the first phase of evaluation by the European Union.
At the same time, according to the official website of the European Union, Cyprus is listed among the countries expected to join the Schengen Area!
What is the Schengen Area?
The Schengen Area is a zone consisting of 26 European countries that implement the Schengen Agreement signed in Schengen, Luxembourg, in 1985. Countries within the zone have abolished border controls between each other while strengthening external border controls with non-member countries.
One of the most obvious features is that anyone holding a valid ID card or tourist visa from any member state can move freely within all member states without restriction.
How can one join the Schengen Area?
According to the provisions of the Schengen Agreement, member states must be European countries and must comply with the contents stipulated in the agreement after joining.
1. Member states shall no longer conduct border checks on citizens of member states between the signatory countries of the agreement.
2. Member states must agree that once foreigners are granted entry into the "Schengen territory," they can travel freely within the territories of the signatory countries of the agreement.
3. Member states must establish a system of police cooperation and judicial assistance, build a Schengen computer system, and establish a shared database of information on various types of illegal activists.
4. Applications must first be approved by the European Commission and passed by a qualified majority vote of a group of experts from member states.
What are the advantages of joining the Schengen Area?
1. Border controls between Schengen countries are abolished, allowing the free movement of people, goods, capital, and services within the European Union.
2. It is easier for Schengen countries to carry out cooperation in education, health, social services, and other aspects, enabling citizens of the signatory countries to benefit from the results of integration in many fields and promoting win-win development.
Cyprus has an excellent geographical location, situated at the intersection of Asia, Africa, and Europe. Joining the Schengen Area will bring more development opportunities to Cyprus's tourism, shipping, and economic and trade sectors. In fact, Cyprus has been working hard to join the Schengen Area and has achieved substantive phased progress, which means that applicants holding a Cyprus Green Card will gain more value. For applicants preparing to immigrate to Cyprus, it is necessary to put their immigration plans on the agenda as soon as possible. WorldWay Group will closely monitor the latest developments and provide updates as soon as they become available.
As an immigration country, Cyprus's program of purchasing property to obtain citizenship and a passport has always been favored by high-net-worth individuals. Currently, through the Cyprus Investment Programme, applicants can purchase at least 2 million euros worth of real estate in Cyprus (whether one or multiple properties) and donate 150,000 euros to apply for a Cyprus EU passport for three generations of their family.
In addition to applying for Cyprus citizenship through property purchase, investors can also apply for immigration to Cyprus by purchasing, establishing, or participating in the investment of a Cyprus enterprise. For example, the Limassol Golf Resort project introduced by WorldWay is an equity buyback immigration project suitable for those who purchase, establish, or participate in the investment of a Cyprus enterprise. By investing 2 million euros to subscribe to the equity of this project, while also purchasing at least 500,000 euros of real estate in Cyprus and donating 150,000 euros, the whole family of three generations can apply for and obtain a Cyprus EU passport.
Advantages of the Cyprus EU Passport
1. One person invests, and three generations of the family apply for and obtain an EU passport, with visa-free access to more than 150 countries and regions worldwide;
2. 1=32: Holding a Cyprus EU passport allows one to freely reside, work, and study in 32 European countries (including 28 EU countries such as the UK, Germany, Italy, and France, as well as Switzerland, Norway, Iceland, and Liechtenstein), and enjoy the same welfare benefits as EU citizens in EU countries;
3. Permanent property rights, with real estate that can be inherited;
4. British education system, allowing children to enjoy high-quality education;
5. Favorable tax system.
With the popularity of the Cyprus EU passport and the increasing number of applicants, the Cyprus government has repeatedly raised the application threshold since last year, not only limiting the number of applications but also increasing the donation cost. No one can predict whether the policy will be further tightened in the future. Therefore, investors who are interested in immigrating to Cyprus should cherish the opportunity while it lasts.
Currently, WorldWay is holding an all-line promotion for its 18-country immigration projects in November! During the event, there are many discounts and surprises. New and old customers are welcome to participate actively and seize the opportunity! For more details, please call: 400-138-2929.
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