CYPRUS PERMANENT RESIDENCY PROGRAM
THE CYPRUS PERMANENT RESIDENCY (PR) PROGRAM OFFERS NON-EU INDIVIDUALS A PERMANENT VISA FOR ENTERING, STAYING AND LIVING FOR LIFETIME IN CYPRUS WITHIN 2 MONTHS, WITH A MINIMUM REAL ESTATE INVESTMENT OF €300,000 + VAT. THE PROCESS IS FAST AND EASY AND IT COVERS ALL DEPENDANT CHILDREN UP TO 25 YEARS OLD.
PERMANENT RESIDENCY VISA IS FOR LIFETIME
Cyprus is a member of the European Union
Minimum real estate investment + VAT
2 – 4
Months Processing time dependant on credentials
The right to live, work and study in Cyprus
BENEFITS OF CYPRUS PERMANENT RESIDENCY PROGRAM
Benefits apply to the entire family (incl. children up to 25 years old and spouse).
Enables you to travel through Europe with ease.
Reduced VAT (5%).
Successful PR applicants have the option, subject to certain conditions, to apply for a Cypriot Passport within 7 years, given that they have resided in the island for a cumulative period of 5 years.
Cyprus provides the European Union’s most favorable personal and corporate tax rates, along with double tax treaties established with nearly 60 countries.
Cyprus has the lowest criminal rate in Europe.
Children who have obtained a PR visa do not lose their permanent residency status when they reach the age of 25 or when they get married.
Advantageous for the permit holder to establish a company or business of his/her own.
High standard educational Institutions and healthcare facilities.
It isn’t necessary to make the full payment upfront, and the property doesn’t need to be finished before obtaining Permanent Residency.
Applicants that obtain the PR are entitled to apply for a Schengen Visa through any Schengen European Embassy.
REQUIREMENTS OF CYPRUS PERMANENT RESIDENCY PROGRAM
Minimum investment of €300,000 + VAT in residential or other new-built property in Cyprus.
Source of funds must derive from abroad.
The residence permit holder must visit Cyprus at least once every two years, if not a residing in Cyprus already.
At least 300,000 Euro (not including VAT) should be paid to the Vendor in order to apply for Permanent Residency.
The applicant must show income of at least €50,000/year. This income to be increased by €15,000 for spouse and €10,000 for each adult financially dependent children, up to the age of 25.
Advising on the terms of the purchase/sale
Exercising the due diligence procedure and all the preliminary checks regarding the property
Drafting/reviewing the contract of sale
Lodging the contract of sale to the District Land Registry Office
Obtaining tax clearance certificates from the competent Authorities
Obtaining permit for acquisition from the Council of Ministers for non-EU nationals
Preparation and submission of all documents required for the completion of the conveyance and transfer of the title deed