A non-EU national may obtain a permanent residency status through a secure real estate investment. Permanent Residency status means that applicants and their families have the right to live freely in Cyprus, or continue to live in their home countries and use the permit whenever needed.
Permit holders also have the right to own a business in Cyprus or set-up a company as an intermediary for trading worldwide and benefit from Cyprus’ excellent business and tax advantages.
There are currently two routes for an applicant to obtain permanent residency in Cyprus, the regular and the fast track procedure:
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Fast Track Procedure (Regulation 6 (2)) – within 2 months
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Category F (Relation 5 (f)) – within 6-8 months
A. FAST TRACK PROCEDURE (REGULATION 6, (2)) within 2 months.
Requirements:
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Purchase a property in Cyprus, a house, apartment or other building; of a minimum market value of €300.000(V.A.T. is not included). The property must be new.
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Prove annual income of €30.000 (applicant together with his spouse/husband), from sources other than employment in Cyprus.
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Derived from salaries of employment abroad and not in Cyprus, pensions, stock shares, rents, etc., and
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Is increased by €5.000 for each dependent person.
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Deposit a minimum capital of €30.000 in a bank account in Cyprus, which will be pledged at least for a three-year period.
B. CATEGORY F (Regulation 5(f)) within 6-8 months.
Requirements:
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Purchase of a property in Cyprus, a house, apartment, building, or even land of an approximate market value of €150.000 (V.A.T. is not included)
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Prove annual income of approximately €20.000 – €30.000 (applicant together with his spouse/husband), from sources other than employment in Cyprus.
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Derived from salaries of employment abroad and not in Cyprus, pensions, stock shares, rents, etc., and
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Is increased by €5.000 for each dependent person.
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Deposit an approximate capital of €30.000 in a bank account in Cyprus, which will not be pledged.
If you are interested in applying for a permanent residence permit in Cyprus, please contact us at
info@internetincorporate.com.