Cyprus Permanent Residency by Investment

IMMIGRATION PERMIT / PERMANENT RESIDENCY IN CYPRUS

-Is granted to NON-EU Nationals

-Enter and remain to Cyprus with no limitations, no entry visa is needed

-Does not expire if the applicant visits Cyprus once every two years? Granted to the wife/husband of the applicant and their minor Children

-No right to work in Cyprus

HOW TO OBTAIN IT: (TWO DIFFERENT WAYS)

1. FAST TRACK PROCEDURE (REGULATION 6, 2) within 2-3 months

OR

2. CATEGORY F (Regulation 5(f)) - within 9- 12 months

1. FAST TRACK PROCEDURE (REGULATION 6,2)

REQUIREMENTS:

I. PROPERTY - Purchase a residential property in Cyprus, a house or apartment of a minimum market value of €300.000(V.A.T. is not included).

II. INCOME - Prove annual income of €30.000(applicant together with his spouse/husband), from sources other than employment in Cyprus. - Derived from salaries of employment, pensions, stock shares, rents, etc., and - Is increased by €5.000 for each dependent person.

III. BANK DEPOSITS - Deposit €30.000 in a bank account in Cyprus, pledged for a three year period. (Money to be proven to have been transferred from abroad)

IV. DEPENDENT CHILDREN AND PARENTS OF THE APPLICANT Financially dependent adult children up to the age of 25 might also be eligible to apply for the permanent residency.

The Parents of the applicant and also those of his wife/husband can also get the Permanent Residency provided they can prove extra annual income of €8.000 per parent.

2. CATEGORY F (Regulation 5(f) - Normal Procedure

REQUIREMENTS:

I. PROPERTY - Purchase of a property in Cyprus, a house, apartment, building, or land of an approximate market value of €100.000(V.A.T. is not included)

II. INCOME - Prove annual income of approximately €20.000 – €30.000(applicant together with his spouse/husband), from sources other than employment in Cyprus. - Derived from salaries of employment, pensions, stock shares, rents, etc., and - Is increased by €5.000 for each dependent person.

III. BANK DEPOSITS - Deposit an approximate capital of €30.000 in a bank account in Cyprus, which will not be pledged.

IV. DEPENDENT CHILDREN - Only covers children up to the age of 18

Benefits of Cyprus PR Permit

-Enter and stay without a limitation-PR permit in a European Union Country

• -Valid for Life
• Covers a whole family with a single investment- Option for fast track procedure
• -Gesy Health System coverage
• -English Speaking Private Schools and Universities with high standards of education for Children
• -Option to apply for Cyprus Tax Residency if the requirements apply
• https://gk-lawfirm.com/publications/cyprus-tax-residency/

Our Law Firm can assist in all the procedure about Cyprus PR application for you and your family. We have big experience in PR applications and all related services(purchase of property).

For more information on Cyprus permanent Residence by the purchase of property please visit our website below

https://gk-lawfirm.com/practice-areas/immigration-law/cyprus-permanent-residency/

You can also contact us by email at info@gk-lawfirm.com

Article By Marios G. Konstantinou Lawyer Partner at Geroge K. Konstantinou Law Firm

Lawyer Partner at George K. Konstantninou Law Firm