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Nauru has launched the Nauru Economic and Climate Resilience Citizenship Program (NECRCP), a unique initiative combining economic development with climate protection.
The announcement was made during the United Nations Climate Change Conference (COP 29) held in Baku, alongside the introduction of the NECRCP Act 2024.
The citizenship program allows applicants to gain citizenship by making direct contributions to Nauru’s Treasury Fund, with applications processed within three to four months. Successful candidates will enjoy visa-free travel to 89 countries, including the UAE and the United Kingdom, though the European Union is excluded.
The program’s funds will be directed towards projects designed to strengthen the country’s resilience to climate challenges.
Citizenship program eligibility and requirements:
For citizenship program, the applicants must be at least 18 years old, have a clean background, and prove their source of funds. They must also complete a mandatory interview and swear an Oath of Allegiance. Dependents, such as spouses, children under 30, and elderly parents, can also be included in applications.
Fees and investment of citizenship program:
- Contribution requirements:
- USD 105,000 for single applicants
- USD 110,000 for families of up to four
- USD 115,000 for families of five or more
- USD 15,000 per additional sibling of the applicant or spouse
- Application fees:
- Application fees: From USD 25,000 to USD 30,000, depending on family size
- Due diligence fees: USD 10,000 for the main applicant, with USD 7,500 for dependents over 16
- Passport fee: USD 500 per passport
A single citizenship program applicant will spend USD 140,500, while a family of four will require a total investment of USD 155,000.
Read More: Cyprus Citizenship by Investment Program: A Gateway to EU Citizenship
On December 2, the Cyprus Citizenship by Investment (CBI) program was launched, the program offers high-net-worth individuals and their families a unique opportunity to obtain citizenship in a European Union (EU) country.
Established in 2013, the program has undergone several changes to make it more attractive and competitive.
Benefits of Cyprus Citizenship
– EU citizenship, allowing visa-free travel to over 170 countries
– Right to live, work, and study in any EU country
– Dual citizenship allowed
– No residency requirements
– Tax benefits, including no inheritance tax and low corporate tax
– High standard of living and excellent education system
– Strategic location, with easy access to Europe, Africa, and Asia
Eligibility Criteria
To be eligible for the Cyprus CBI program, applicants must:
– Be at least 18 years old
– Have a clean criminal record
– Have a good reputation and character
– Meet the minimum investment requirements
– Pass a medical examination
Minimum Investment Requirements
Applicants can choose from several investment options:
1. Real Estate Investment: Purchase a property worth at least €2 million, plus VAT.
2. Investment in a Cyprus Company: Invest at least €2 million in a Cyprus company, which must have a physical presence in Cyprus and employ at least 5 Cypriot citizens.
3. Investment in Alternative Investment Funds (AIFs): Invest at least €2 million in AIFs, which are licensed and supervised by the Cyprus Securities and Exchange Commission.
4. Combination of Investments: Combine two or more of the above investments, provided that the total investment amount is at least €2 million.
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