Paphos Life

if you are a Chinese national and qualify for Cypriot citizenship by buying a property for 350,0000 eur does this entitle you to free movement with in the EU or for that matter if brexit comes about if uk resident the same

manxie wrote: ↑Wed Mar 01, 2017 1:32 pm if you are a Chinese national and qualify for Cypriot citizenship by buying a property for 350,0000 eur does this entitle you to free movement with in the EU or for that matter if brexit comes about if uk resident the same

I thought you had to have €2M, of which 350,000 has to be an immoveable property.
Once a Cyprus Citizen they can move freely within the EU Schenen area - but UK is not in that area so a visa is still required, albeit a formality for a touristy visit. Residency in UK a more difficult issue but far from impossible.
Geoff.

No. The residency permit only allows access to Cyprus as Cyprus is not a member of the Schengen Agreement yet. The 350k only gives you Residency, not Citizenship.

As said, the €300,000 only gives you a residency permit for Cyprus. If you then reside here for 7 years you would be entitled to apply for citizenship which would in turn give you a Cypriot passport resulting in free movement. There is however the bigger scheme for citizenship as Geoff says for which you would need to invest between 2 million and 2.5 million for a minimum of 3 years. €500,000 of which must be in property.

I think most Chinese investors fall into the first category.

Jeanne