Residency-by-Investment – Fast-Track Procedure
Situated in the eastern Mediterranean Sea at the crossroad of Europe, Africa, and Asia, the Republic of Cyprus is considered one of the largest international business and shipping centres for Europe, Russia, and the Middle East.
Its entry into the European Union in 2004 makes Cyprus a safe environment for residence and investments. With its almost year-round sunshine, well-developed socioeconomic infrastructure, stress-free lifestyle, and very low crime rate, Cyprus is the perfect place to enjoy life to the fullest.
The country’s immigration laws provide investors with an inimitable opportunity to invest in the Cyprus economy and gain Permanent Residence permits, and with the recent discovery of significant reserves of natural gas off the coast of Cyprus, the opportunities are many.
The Permanent Residence Permit for non-EU citizens offers the following advantages:
Note: The Residence Permit does not affect tax liabilities in Cyprus.
Non-EU citizens who want to live permanently in Cyprus must apply for, and be granted, a permanent visa. The Ministry of Interior of the Republic of Cyprus will issue an Immigration Permit to third country applicants who intend to invest in the country.
A Permanent Residence Permit (Immigration Permit) will be granted to non-EU nationals, their spouse, dependent children under 25 as well as any dependent parents of both spouses; this allows permit holders to reside in and travel to Cyprus without having to undergo any immigration entry procedures.
A bank deposit of €30,000 must be blocked with the bank operating in Cyprus, and must have been transferred to Cyprus from abroad.
The applicant must provide a statement that he/she does not intend to work in Cyprus.
The applicant, his/her spouse, and any dependent children over 16 must be able to provide a clean criminal record from the country of their origin, which should be certified by the Cyprus Embassy.
The applicants should visit Cyprus at least once every two years.
If the Fast-Track option of obtaining a Permanent Residence Permit in Cyprus is not applicable to your case, then you may choose to apply for a residence permit through the regular procedure. The application processing time for the regular procedure is one year, and the applicant should be a temporary resident of the country during that time.
Eligible applicants must have purchased property in Cyprus which is valued at under €300,000 or which is not new, or must have purchased new properties with other family members which is valued at over €300,000 but below €600,000.
We will guide you through every step of the way to obtaining a Permanent Residence Permit in Cyprus:
For more information on any of our services, please feel free to contact us.