Cyprus Investment Immigration

Typically, investment immigration is where a monetary amount is funded into a pre-approved project of the country the applicant seeks residency in. The investment should result in an added benefit to the country’s economic development; however, each jurisdiction establishes different requirements to satisfy in order to qualify for permanent residency. The details for Cyprus investment immigration are outlined below:

Why Immigrate to Cyprus

Cyprus is a very popular location for foreign investors to seek a permanent residency permit in due to its stable economic environment and EU member status. It incorporates a prominent political and legal infrastructure and adopts a highly bespoke taxation system.  Cyprus is strategically situated to facilitate strong business and trading relations between EU member states. The cost of living in Cyprus is relatively lower than other European Union member states, such as the UK. In addition, the country offers high standards of living and a good education system for all residents, real estate is excellent value for money and taxation at its lowest level.

Investment Immigration in Cyprus

As of July 2009, Cyprus Immigration law has been reformed by the Department of Interior in relation to how foreigners can obtain residency permits. The newly adopted law provides that all Non-EU citizens are eligible to apply for an immigration permit.

Category F Visa

The residency permit issued as a result of an applicant’s investment is known as a ‘category F’ type visa. Once granted this visa will provide the holder with full rights to permanent residency in Cyprus. The initial validity of the visa is for 5 years however this is easily renewed on expiry. This type of Visa is normally targeted at high net worth individuals and those seeking to retire in Cyprus.

There are several conditions, which must be satisfied to achieve application approval:

• The applicant must be a Non-EU citizen
• The investor must demonstrate that he/she has sufficient funds (accrued from employment or self employment from outside of Cyprus)
• Sufficient funds amount to a minimum of approximately 9,606 EUR of annual income and an additional 4,631 EUR income for every dependant residing with the main applicant

Benefits of the Category F Visa

• Applicants are not subject to the traditional lengthy application procedures
• Where the applicant has resided in Cyprus for a period of no less than 6 consecutive years, he/she is entitled to apply for Cyprus citizenship and a Cyprus passport
• Once the applicant has received Cyprus citizenship he/she will have the right to enjoy all the benefits of a European Union Citizen in Cyprus
• Obtaining a category F Visa allows the applicant to reside in Cyprus without the requirement of undertaking in a business, trade or professional activity
• By obtaining a permanent residency permit (Category F immigration permit) in Cyprus, you qualify for the right to travel to any Schengen country without the requirement for a visa.

Relevant documentation when applying for a Cyprus residency permit

• Valid passport with a minimum of 1 year remaining before it expires
• 4 x passport photos
•  Birth certificate
• Proof of income by means of legitimate bank account statements
• Medical insurance cover policy
• Proof of Cyprus residency (this can be in the form of a title deed of property owned or a contract of sale or rental)
• Completed application form
• Copies of all the above documents