Cyprus residency

Cyprus residency refers to foreigners who are not E.U. citizens, but either bought property for gaining the Cyprus residency or they are planning to purchase and apply for the Cyprus residency. This type of residency  is based on the level of foreign income available to support the particular person and can also include pensions and income from investments. The applicant should submit a confirmation letter from a financial institution in Cyprus that he has deposited a minimum capital of €30.000 into an account, which will be pledged for a period of at least three years. It must be proved that the said amount has been transferred to Cyprus from abroad.Foreigners can apply for a Cypriot Passport after living for 7 years in Cyprus, (this is an E.U. directive for foreign personnel). In addition, following five years of permanent stay and or work in Cyprus, the E.U. Directive states that a foreigner cannot be expelled from the country. At the end of the 7th year, this person can apply for Cyprus nationality. This immigration policy also states that a person who buys a house in Cyprus for €300.000 or more can immediately apply for a permanent Cyprus residency.

Cyprus residency & Naturalization

On top of Cyprus Residency is Naturalization. Cyprus is the only country that offers citizenship and passport in 3 to 6 months with NO needs to live in the country or learning the local language and is the fastest way for obtaining EU nationality.

Program overview

  • Obtain passport and EU citizenship within 3 to 6 months.
  • The program is an investment in government bonds or bank or Real Estates in Cyprus between 2 to 5 million Euro. The investment has to be kept for 3 years.
  • This program is exposed to all nationalities.
  • Dual citizenship is allowed, it is not necessary to lose the current nationality.
  • It is not required to live in Cyprus at any point in time for getting or keeping the citizenship.
  • The main candidate, spouse and dependent children below 28 years old obtain the passport.

Benefit of Cyprus Passport

  • Citizens are able to live and work within all the European countries that they want.
  • Cyprus passport holders have the right to have the advantages of free or at special tuition fees exclusive schools and universities within Europe.
  • Access to all EU organization, healthcare and all the enjoying the advantages of EU citizen.
  • The advantageous tax system for Cypriot citizen such as no foreign income tax, no inheritance tax and no withholding tax on interest earned and live in one of the lowest taxation rate in whole Europe.

Required investments for Cyprus citizenship are:

1)  Bank deposit

The investor must have 2 million EUR deposit for 3 years in Cyprus banks or government bonds. The applicant can withdraw the entire amount after 3 years.

2)  Residential property in Cyprus

The applicant must invest in permanent privately-owned property in the Republic of Cyprus, the value of each property should be minimum EUR 500,000, plus 5% VAT

The applicant can either invest 2 million Euro in a single Luxury property or should invest 2 million Euro investment in real estates.

The applicant must hold a property investment of minimum value EUR 500,000 that will declare as the residential house and the rest of investment ( 2 million Euro) on the properties that can be sold after 3 years.

In both cases the government application and fees should be paid by the applicant.

 

Qualification criteria

The investor can include the spouse and dependent children up to 28 years old. According to the Cyprus Law, adult children(between 18 to 28 years old) are considered financially dependent to the investor if they are students at Universities or Colleges.

The whole procedure takes between 3 to 6 months.

Visa Free or *Visa-on-arrival for citizen of Cyprus