CYPRUS PERMANENT RESIDENCE PERMIT

Apart from the “Citizenship by Investment” option offered by Cyprus, another way to secure permanent residence in Cyprus for an investor and his dependants is the “Cyprus Permanent Residence Permit“.

Fast-track procedure for acquiring the Cyprus permanent visa only takes 2 months!

The fast-track Permanent Residence Programme enables the granting of a permanent residence permit to foreigners who intend to invest in Cyprus, provided certain requirements are met.

3 Main Requirements

Purchase of a Cyprus property worth €300,000 or more.

The application form must be accompanied by a title deed or a contract of sale that has already been submitted to the land registry, for the acquisition of a house, apartment or any other building situated in Cyprus, of a minimum value of €300.000 (excluding VAT). Further, the applicant must submit proof of payment for at least €200.000 (excluding VAT) in respect of the above mentioned property. The Civil Registry and Migration Department will only accept applications for granting immigration permits under the fast track route provided that the above mentioned property is being sold for the first time.

Proof of annual income of €30 000 and €5 000 for every dependant (wife/husband and children over 18 years old)

The applicant must prove that he has at his disposal a secured minimum annual income amounting to €30.000 (employment in Cyprus is not allowed).

The minimum annual income is increased by €5.000 per year for every dependent person. The annual income should be earned from sources abroad and can include overseas employment income, pensions, dividends etc.

Open a Cyprus bank account and deposit the amount of € 30 000 to be blocked for 3 years.

The applicant must submit a confirmation letter from a Cyprus Banking Institution that s/he has deposited a minimum amount of €30.000 which will be pledged for a minimum period of three years.

Additional Requirements

The applicant must have clean criminal record
The applicant must present a Statement confirming that he has no intention to work or be engaged in any form of active business in Cyprus;
The applicant is required to visit Cyprus at least once every two years.

If the criteria and conditions as listed above are fulfilled, the application shall be examined by the Minister of Interior in a positive spirit and the immigration permit will be granted within a 2 month period.

Start your Cyprus Residency Permit Application today!