Cyprus, an enchanting Mediterranean island, offers a remarkable opportunity for investors seeking to obtain residency through its residency program by investment. This program presents a gateway to a world of possibilities, combining the allure of a picturesque landscape with the advantages of a strategic location at the crossroads of Europe, Asia, and Africa. Nestled in the eastern Mediterranean Sea, Cyprus boasts a rich history, captivating culture, and unparalleled beauty that captivates the hearts of those who visit. Let us embark on a journey to explore the many facets of this extraordinary destination and discover why Cyprus residency is an enticing prospect for discerning investors.
Ways to obtain Cyprus Residency by Investment
The Cyprus permanent residency program requires for investors to make a minimum investment of € 300,000 EUR, (plus VAT, if applicable).
An investor can choose from one of the following investment programs:
- Invest in a residential property.
- Invest in commercial properties, in addition to taxes. Property can be new or resale.
- Invest in the share capital of a company that has a physical presence in Cyprus that has activities in Cyprus and employs at least 5 persons.
- Invest mutual funds in one of the programs sponsored by the UCITS:
– Alternative Investment Fund of unlimited number of investors (AIF).
– Alternative Investment Fund of Limited Number of Investors (AIFLNP).
– Registered Alternative Investment Fund (RAIF).
Eligibility Requirements for Cyprus Residency by Investment
- The investment funds should be sourced from abroad, and the investment should be maintained or replaced by another investment of the same or greater value, in order to maintain the residency.
- The applicant is required to prove a secure annual income (including salaries from employment, pensions, dividends, fixed deposits, rentals) of at least EUR 30,000
- This amount is increased by EUR 5,000 for each dependent person (spouse and children) and by EUR 8,000 for each dependent parent or parent-in-law.
- In the case of investing in a new residential property, the income must be sourced from abroad.
- In all other investment options, the income can be sourced from within Cyprus.
- In cases where the applicant has chosen to invest in any other category besides the category of new residential properties, the applicant should provide relevant documentation as to the place of residence in Cyprus (e.g. sales agreement, rental agreement, or title deed).
- Investor and family are also required to travel to Cyprus every two years in order to maintain the residency.
Benefits of obtaining Cyprus Residency by Investment
- Fast processing time.
- Route to Cyprus citizenship (under conditions).
- Ability to add your family members in the application.
- Better education opportunities.
- Improved business access to big markets.
- Safety and security.
Process and Steps to Obtain Cyprus Residency by Investment
Step 1: Contract with Prime Properties to consult and discuss your investment goals and select a suitable option for you.
Step 2: Complete the investment and legal procedures with Prime Properties’ assistance.
Step 3: Prime Properties handles and submit the application for review and supports you throughout.
Step 4: You receive your residency status, such as a residence permit, with guidance from Prime Properties.
FAQs about Cyprus Residency by Investment Program
What is the estimated processing time?
The process of obtaining Cyprus residency typically takes 6 months from the submission date.
Who would be eligible to receive Cyprus residency under my application?
Residency is granted to the entire family – inclusive of dependent children up to the age of 27, dependent parents and parents-in-law of the main applicant, age 65 and above.
Is it possible to travel visa-free to Schengen countries for individuals who obtain permanent residency through the Cyprus residency program?
Obtain permanent residency for life in Cyprus only (cannot be used for visitation to Schengen countries).