Energy, shipping, services, and high technology are the areas with the strongest prospects for the country. The island’s low-tax business environment, experienced and English-speaking professionals, and outstanding infrastructure make Cyprus an attractive investment destination. The competitive, free-market, service-based economy of Cyprus inspires worldwide investors and enterprises to invest, expand, and succeed.
Cyprus has a modern, free-market, service-based economy, and its effective and transparent regulatory and legal structure gives international investors and enterprises the confidence to invest, grow, and succeed. Citizenship in Cyprus gives candidates and their families the ability to live, work and study in any of the 28 European Union member states, as well as visa-free travel to over 173 countries across the world.
Cyprus Permanent Residency is a legal status that allows non-EU citizens and their eligible dependents to come and stay in Cyprus permanently with no restrictions. It does not need to be renewed because it does not expire. It’s also known as a Cyprus immigration permit or a residency permit with no time limit.
Regulations 5 and 6(2) of the Aliens and Immigration Regulations provide the legal foundation for the permanent residence system.
A minimum of EUR 300,000 is invested in one of the following:
In exchange for a minimum investment of EUR 300,000, the Cyprus Permanent Residence Program allows qualifying individuals and their families to live in Cyprus eternally. It is also one of the cheapest ways to obtain an EU passport, as you will receive your investment back after 5 years of citizenship.
The Ministry of Interior recently simplified Regulation 6(2) of the Aliens and Immigration Regulations in order to issue residence permits to applicants from non-European countries who intend to invest in Cyprus, in line with the Cypriot government’s goal of increasing foreign investment and assisting the republic’s economic development.
One of the following investment alternatives is the primary requirement:
A charge of EUR 500 is due with the application, plus an additional price of EUR 50 for biometric capture. The Civil Registry and Migration Department will analyze the application before submitting it to a permanent secretary of the Ministry of Interior, who will also make a decision in two months. Following acceptance, the applicant and all family members must go to Cyprus within one year to get the actual permit.
The application for permanent residency can be made by the investor’s lawyer, who is not required to be present at the time of submission. These applications are exclusively available at Nicosia’s Civil Registry and Migration Department, not in the city’s district immigration departments.
Following submission, applicants must provide a photo and fingerprints so that residency cards can be provided after approval. This can be performed at any migration district unit in any city at any time before the final approval.
Individuals and businesses residing in Cyprus benefit from a particularly favourable tax environment. Over 80% of the population speaks English, and there are excellent educational facilities on the island, including major UK universities with campuses. Cyprus boasts Europe’s lowest crime rate and is the world’s fifth safest country.
All you need to know about purchasing luxury real estate in Cyprus, as well as the Cyprus Residence by Investment Program. Applicants can obtain Cypriot citizenship by purchasing, establishing, or participating in a Cyprus-based firm or organization worth at least €2,000,000.
Real estate holding period: Maintaining and renewing a residence permit is required (Regulation 6(2) option).
The minimum real estate investment: EUR 300,000
Ownership configuration: Sole proprietorship, joint venture, freehold, corporation, or trust.
Possibility of rental income: 3–5 per cent
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