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

OVERVIEW

EU

Cyprus is a member of the European Union

€300,000

Minimum real estate investment + VAT

2 – 4

Months Processing time dependant on credentials

Benefits

The right to live, work and study in Cyprus

BENEFITS OF CYPRUS PERMANENT RESIDENCY PROGRAM

01

Benefits apply to the entire family (incl. children up to 25 years old and spouse).

02

Enables you to travel through Europe with ease.

03

Reduced VAT (5%).

04

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.

05

Cyprus provides the European Union’s most favorable personal and corporate tax rates, along with double tax treaties established with nearly 60 countries.

06

Cyprus has the lowest criminal rate in Europe.

07

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.

08

Advantageous for the permit holder to establish a company or business of his/her own.

09

High standard educational Institutions and healthcare facilities.

10

It isn’t necessary to make the full payment upfront, and the property doesn’t need to be finished before obtaining Permanent Residency.

11

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.

OUR SERVICES

01

Advising on the terms of the purchase/sale

02

Exercising the due diligence procedure and all the preliminary checks regarding the property

03

Drafting/reviewing the contract of sale

04

Lodging the contract of sale to the District Land Registry Office

05

Obtaining tax clearance certificates from the competent Authorities

06

Obtaining permit for acquisition from the Council of Ministers for non-EU nationals

07

Preparation and submission of all documents required for the completion of the conveyance and transfer of the title deed

NEWS

Best year for property sales since 2008

October 17, 2023
There was a significant increase in the number of property sales contracts deposited at Land Registry offices in 2022 compared to the number deposited in 2021.

Cost of living in Cyprus

September 28, 2023
The estimated cost for a family of four living in Cyprus is €3,861/month, while the estimated cost for a single person is €1,782/month, according to expatistan.com…

Larnaca dominates apartment sales

September 28, 2023
During an upward trend in property sales, the Real Estate Agents Registration Council highlighted the Larnaca district’s remarkable performance in the first half of 2023.