Permanent Residence in Cyprus

Why did you choose Cyprus?

Cyprus provides numerous major benefits to overseas investors and their dependant family members looking for a jurisdiction with high quality living standards and great professional services.

Positioned strategically between continental Europe, the Middle East, Asia, and Africa

Tax structure that is advantageous

A high standard of living, a safe and secure environment, great English schools, and modern health care are all a

vailable.

Climate, business environment, and culture are ideal.

One of the most popular tourist attractions in the region, known for its warmth, and home to a sizable expatriate community.

Under Regulation 6(2) of the Aliens and Immigration Regulations, the Immigration Permit allows non-Cypriot, non-EU nationals to enter and stay in Cyprus as permanent residents with no restrictions. It does not expire, thus the possessor is not required to renew it.

Financial requirements: 1. The candidate must invest at least €300.000 in one of the following categories:

A. Investment in residential property/ies (excluding re-sale): A minimum of €300,000 (plus VAT) in foreign funds should be invested. As part of the application, proof of payment in the amount of €300,000 (excluding VAT) should be given. The applicant may purchase up to two (2) units. The property to be purchased must fit the needs of the investor(s)' family size. If the investor purchased the property/ies more than a year before submitting the application, he or she must produce a recent Search Certificate issued by the Land Registry Department.

B. Other property investment (including resale), excluding residential properties: A minimum of €300,000 (plus VAT, if applicable) could be invested in the purchase of stores, offices, hotels, and/or similar developments, or a mix of the foregoing. As part of the application, proof of payment in the amount of €300,000 (excluding VAT) should be given. If the investor purchased the property/ies more than a year before submitting the application, he or she must produce a recent Search Certificate issued by the Land Registry Department.

C. Investment in the share capital of a Cyprus-registered firm having operations and personnel in Cyprus: A minimum of €300,000 must be invested in the share capital of a company registered in the Republic of Cyprus that is based and operates in the Republic. Said company must have a demonstrated physical presence in Cyprus and employ at least five (5) people. The company must create a business strategy, including financial goals, which must be filed.

D. Shares of a Cyprus Collective Investment Organisation (AIF, AIFLNP, RAIF): The investor must submit a Fund Memorandum or a Business Plan.

2. The main applicant must also have a steady annual income of at least €50,000. The aforementioned revenue could come from employment, dividend distribution, pensions, rents, and so on.

The amount of income will rise in proportion to the number and kind of dependent family members mentioned in the application, as shown below:

Partner - €15,000

Underage children - €10,000 per person

Adult offspring of the investor (between the ages of 18 and 25, economically dependent on the investor, and enrolled in a higher-education institution) - €10,000 per individual

Additional Terms & Conditions:

The following documents should be included with the application:

The main candidate (and their spouse) have no criminal records.

Declaration stating that the main applicant (and their spouse) have no intention of working in Cyprus or receiving any employment-related income from Cyprus; and

Proof of residence in Cyprus, such as a title document, purchase or rental agreement (relevant only if the investment was made under criterion B, C, or D). The property to be purchased/rented must fit the needs of the investor(s)' family size.

For a list of pre approved properties which fit the criteria for the Cyprus Permanent Visa application contact us on sales@propertyverse.com.cy or on WhatsApp on +357 99 553 196