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    Cyprus Residence By Investment Program

    Country Information:

    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.

    Moves to Cyprus with the residency program

    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:

    • Purchase of residential or other property in Cyprus (including VAT).
    • At least five individuals are employed by a tangible company established and operating in Cyprus.
    • Collective investment units of the Cyprus Investment Funds Association (AIF, AIFLNP, RAIF)
    • A minimum yearly income of EUR 30,000 from sources other than employment in Cyprus is guaranteed.

    Residence

    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.

    Permanent Residence Program in Cyprus

    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:

    • The investor must purchase a new house or apartment from a development business for a minimum of €300.000 + VAT, or any of the combinations listed below (VAT is 19 per cent or 5 per cent for the first property bought for own use).
    • To apply, the investor must register his sales agreement with the Land Registry and pay a minimum of €200.000 + VAT. Payment must be made to the seller's bank account in Cyprus, and the funds must be sent from overseas.
    • The applicant must show proof of a guaranteed yearly income of at least EUR 30,000 from outside the EU. For the spouse and each new child, this income must grow by EUR 5,000, and for each dependent parent, it must increase by EUR 8,000. Salaries from employment, rents, pensions and dividends from stocks are all examples of sources of income.

    Procedures and time frame

    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.

    Advantages of Cypriot residence by investment

    • Cyprus offers permanent residency for life.
    • A residence permit can be applied for by the entire family, including the parents.
    • The fast-track approach allows you to get your residency card in two months.
    • Cypriot permanent residents may be awarded a 5-year Schengen visa with multiple entries.
    • There are no language restrictions.
    • Parents and dependent children between the ages of 18 and 25 are also eligible.
    • The entire procedure can be carried out without the need to travel to the country. However, biometric data collection requires a visit.

    CITIZENSHIP

    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.

    How to Obtain Citizenship in Cyprus Through Investment

    • Have a current passport and no criminal history
    • The name of the investor must not appear on the list of people whose property has been ordered to be sold.
    • The EU has imposed a moratorium;
    • Possession of a permanent private residence in Cyprus costing at least 500,000 euros (including VAT);
    • Before applying for citizenship, applicants must first get residency; applicants must hold a residency permit for at least six months before applying for citizenship;
    • If an investor chooses to invest solely in residential property, the total investment must be at least 2,000,000 euros (one of the residential properties must cost at least 500,000 euros).

    REAL ESTATE

    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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