Cyprus is a very popular destination for foreign investors to seek citizenship in due to its stable economic environment and European Union member status. Incorporating a prominent political and legal infrastructure, and adopting a highly bespoke taxation system, Cyprus is strategically situated to facilitate strong business and trading relations between EU member states. The cost of living in Cyprus is relatively lower than in many other EU member states, such as the United Kingdom, while the country offers high standards of living, a good education system for all residents, an excellent value for money on real estate, and low taxation.
The Investment Citizenship Program is based on a fast-track procedure with reduced time and bureaucracy. In September 2016 the Cyprus Council of Ministers has approved amendments to the Scheme for Naturalization that designed to attract foreign direct investment and encourage the use of Cyprus by high-net-worth Individuals.