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CYPRUS PERMANENT RESIDENCY BY INVESTMENT - CYPRUS RESIDENCE PERMIT

Cyprus Permanent Residence by Investment

Table of Contents

Background and Guide - Cyprus Residence Permit

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 EU 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.

Eligibility Requirement for Cyprus Residency by Investment, in 2023

Minthis Hill Property, Paphos
The Cyprus government intends to increase foreign investment in Cyprus through the Residence by Investment Programme to enhance economic development.

Recently, the Ministry of Interior simplified Regulation 6 (2) of the Aliens and Immigration Regulations to permit issuing of Cyprus Permanent Residency Permits to High Net Worth Individual applicants from non-European countries, provided they meet the following requirements:

New Investment Requirements for Cyprus Residence Permit

The following are the new requirements for the Cyprus Permanent Residence Permit Program, as at 24 March 2021:

1. Invest in Commercial Properties - Investors now have the option to invest 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 of €300,000 EUR, and the investment should be maintained or replaced by another investment of the same or greater value, in order to keep the permit.

2.a. 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.

4. No Employment in Cyprus Allowed - The Applicants should confirm that they do not intend to undertake any sort of employment in Cyprus.

5. Proof of Place of Residence in Cyprus - The Applicant should provide relevant documentation as to the place of residence in Cyprus (e.g. sales agreement, rental agreement, or title deed). The investment should be concluded before the submission of the application.

Benefits of Cyprus Permanent Residence - Purchase of Real Estate

Cyprus Residence Permit
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:

Why Invest in Cyprus Property or Businesses?

Arithea Villas - Pafos, Cyprus     Venus Rock Residences, Paphos, Cyprus
Adonis Beach Villas       Belvedere Villa, Chloraka - Cyprus Residence Permit

Cyprus Residence, Tax and Property Services

For information about how our Immigration Consultants can assist you, and how to buy a Cyprus Property, click on the following VisaConnect website pages:
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