CONTACT VISACONNECT! - CYPRUS PERMANENT RESIDENCY

Cyprus Residence Permit - Background

Cyprus is a tranquil island strategically located in the heart of Europe but at the crossroads of three continents - Europe, Asia and Africa. Cyprus benefits from a European outlook, with a Mediterranean warm relaxed climate. Cyprus has a favourable tax regime which makes it one of the top relocation destinations in the world.

Cyprus has been a member of the European Union since 2004, and a Eurozone member since 2008. Permanent Residency under this programme grants the right to travel within the EU with minimal visa requirements and may be considered to be the first step towards gaining Cyprus Citizenship.

In 2023, High Net Worth Immigrants can apply for a Cyprus Permanent Residency permit through a simple and fast property investment in an apartment or villa anywhere in Cyprus, including Larnaca, Limassol or Paphos! Apply for the Cyprus Golden Visa Residence Programme and seek Cyprus Immigration assistance Now! Contact our Cyprus Immigration Consultants and Lawyers by telephone or visit us in our offices in Brisbane, Australia, Singapore, Hong Kong, London, UK and Lisbon, Portugal.

Benefits of Cyprus Permanent Residence - Buy Property in Cyprus!

Outlined below are the benefits of obtaining Cyprus Permanent Residency through purchase of a property or propeties, in Cyprus. Also, see VisaConnect's PDF document: Cyprus Residence by Investment in 2023:

Cyprus Law Firm - We partner with experienced and specialised Cyprus Lawyers, working in reputable Cyprus Law firms, who are registered with the Registry of Service Providers of the Cyprus Investment Programme, and adhere strictly to the provisions of the Code of Conduct, effective from June 2018.
European Union (EU) - Visa Free travel within European countries for non-EU nationalities.
Residency Permit - Cypriot Government has simplified the process to get issued with a Permanent Residency Permit.
No Renewal of Residency Required - Permanent residency permit does not need to be renewed, it is permanent and there is no need for future reconsideration.
Cypriot Passport Eligibility - Cyprus Permanent Residents have the right, subject to meeting conditions, to apply for a Cypriot passport following their physical presence for a total of 5 years within a 7-year period.
Healthcare and Education - Residents can benefit from high quality Cyprus healthcare and excellent standard of education at International Schools and British Universities, based in Cyprus.
High Safety - Lowest crime levels in Europe.
Business in Europe - Business opportunities are available for free trade to over 500 million EU citizens.
Fast Processing Time - Permanent Residency by Investment is usually approved in around 2 months processing time, after evaluation of the application by the Cyprus Civil Registry, the Migration Department and the Ministry of Interior.
Schengen Visa - Eligible to apply for a 1-year Schengen visa in any European Embassy.
No Residence Requirements - Only need to visit Cyprus every 2 years.
Visa Free Travel to Cyprus - Travel Visa Free, with multiple entry to Cyprus on the Permanent Residency Permit.
Low Personal and Corporate Tax rates - Cyprus has the lowest personal and corporate tax rates (12.5% Corporate tax rate) in the EU, as well as double tax treaties with more than 60 countries, including: Ukraine, Russia and China.

Requirements for the Cyprus Residence Permit - as at 24 March 2021

1. Invest in Commercial Properties - Investors now have the option to invest €300,000 EUR + VAT in new or resale commercial properties, including offices, shops and hotels.

2. Investment Funds - The investment funds should originate from overseas, and be a minimum of €300,000 EUR. The investment should be maintained or replaced by another investment of the same or greater value, to keep the permit:

Short-Term Fixed Income Investment secured against UK Property - The Investor invests into UK Property Secured Loans that offer the opportunity to gain high yield returns of between 5% - 7%, with a short-term exit strategy as well as capital protection. Investment in bridging loans offers high security backed by UK Residential and Commercial Property. At the end of the investment term, investors have the option to receive the funds or to re-invest them.

3. Applicant's Income - The Applicant and their Spouse should prove a secure annual income (including salaries from employment, pensions, dividends, fixed deposits, rentals) of at least 30,000 euros, increased by 5,000 euros for every dependent person (spouse and children) and by 8,000 euros for every dependent parent or parent-in-law.

Cyprus Permanent Residency by Investment

For more information about Cyprus Permanent Residency eligibility and requirements, see our web page and PDF document below: