Canadian PR’s Can Benefit From an EU Passport

Many Canadian permanent residents are discovering that a European Passport can be an effective solution to some of the challenges faced by new Canadian permanent residents (PR’s).  


Some of the most frequent problems experienced by Canadian PR’s are:

  • Problems maintaining Canadian permanent residence due to frequent travel abroad;
  • Wealth management and tax issues due to Canada’s high tax rate; or
  • Problems travelling in Europe or elsewhere on a non-Canadian passport.

There are many tools available to deal with these 3 issues, and Pace can help you craft a strategy based on your situation. One strategy that can help you deal with all 3 of these problems at the same time is obtaining a European Passport.


Relatively speaking, Cyprus passport is very easy to obtain. The main requirement is a real estate purchase.

Cyprus passport can help you deal with all three of these issues that I mentioned above:

  • Buying a house automatically qualifies you for Cyprus citizenship, unlike Canada you don’t need to hold permanent residence for a number of years first;
  • Cyprus is considered a tax haven, but it is also part of the EU, so it’s a very safe place from which to manage your wealth;
  • Cyprus is a full EU member with visa free travel to over 140 countries worldwide, so Cyprus passport makes travel very easy, and you are legally able to reside anywhere in Europe.


  • Citizenship within approximately 6 months.
  • No language requirements.
  • Low tax rate and free trade within the EU.
  • Unrestricted right to live, work, and study anywhere in Europe.
  • Excellent education system.

Recommended Posts