Permanent Residence by Investment Program

Advantages

• A European Union (EU) member country
• Spouse, and any dependent children up to 18 years old can be included
• Safe living environment, a beautiful location with a high standard of living
• Permanent residency holders can get a multi-entry Schengen visa from 6 months to 5 years, depending on passport held and frequency of travel to Schengen countries
• Can apply for citizenship after 7 years permanent residence
• Can own companies in Cyprus and receive dividends
• Opportunity to own Freehold property
• No inheritance or wealth taxes
• Low annual property taxes

Requirements

• Must purchase a qualifying property in Cyprus
• Must have an overseas annual income of atleast €30,000 plus €5,000 per year for each dependent
• Must deposit at least €30,000 in a Cyprus bank
• May not take up employment in Cyprus
• Must visit Cyprus at least once every 2 years
• No criminal record
• In good health
• Must have acceptable Medical Insurance

Investment Options

• An investment of at least €300,000 + VAT in a single residential property used as a permanent residence; or
• Two residential properties providing the total value exceeds €300,000 + VAT; or
• One residential property, plus a shop unit not exceeding 100 square meters providing the total value exceeds €300,000 + VAT; or
• One residencial property, plus an office unit not exceeding 250 square meters providing the total value exceeds €300,000 + VAT
• The investment may be made personally or through a wholly owned company, or through a company owned jointly with the spouse of the applicant

Process

• Application submitted to the Civil Registry and Migration Department of Cyprus
• Submission of supporting documents plus evidence of intended investment
• Decision made within 2 months of completed application. Applicant and dependents must visit Cyprus to obtain permit
*The Cyprus Cabinet has approved fundamental regulatory changes to the Programme on February 13, 2019. The effective date of these changes is to be confirmed.