What does the Republic of Cyprus (Cyprus) have that thousands of people are willing to spend 60 billion VND to buy a passport?

Cyprus (or Cyprus) is an island located in the eastern Mediterranean, famous since ancient times for its mineral wealth, wine and natural beauty.

The Cyprus passport offers the opportunity to travel freely in the EU and around the world

With a convenient location, close to three continents of Asia, Europe and Africa, Cyprus is a transit point for goods as well as for moving to countries inside and outside Europe through a developed maritime and aviation system.

In 1960, after 35 years of colonization, the island of Cyprus became independent from Britain and only began to be divided after the Turkish invasion in 1974.

Since then, the island has been split into the Greek Republic of Cyprus in the south and a self-proclaimed Turkish Republic of Northern Cyprus in the north.

Cyprus passport holders can enjoy visa-free travel to 174 countries.

The Republic of Cyprus is an EU member state and is widely recognized internationally. In contrast, the Republic of Northern Cyprus is recognized only by Turkey.

The Republic of Cyprus became a member of the European Union (EU) on May 1, 2004 and then joined the euro area in 2008.

Currently, Cyprus passport holders can enjoy visa-free travel to 174 countries around the world and have the freedom to live, study and work in the 27 EU member states.

What is the CIP Program?

The CIP program allows people from all over the world to purchase citizenship of the Republic of Cyprus through a minimum investment of $2.5 million in various sectors such as real estate.

Cypriot passport holders must prove themselves to have no criminal record. Those who have been investigated, criminally prosecuted or have a criminal record are prohibited from purchasing a Cyprus passport. Individuals sanctioned by the EU or a third country such as the US, Russia or Ukraine or who have worked for sanctioned organizations are also not allowed to purchase a Cyprus passport.