Cyprus Residency By Investment Program
Cyprus Residency by Investment:Cyprus is actually a very interesting place to live. Its weather, geography and country beauty is so amazing. People either wants to visit, work or live there as permanent residents. For one to have permanent residency of Cyprus, you to be either a citizen, a worker (an employee), a student or you can obtain Cyprus residency by investment.
Cyprus Permanent Residence by Investment Categories
This is the accusation of Cyprus permanent residence through your investment of a stipulated amount in Cyprus. Completing all other requirements gives you the opportunity of permanent residency based on the completion of the program requirements. Therefore,Cyprus residency by investment are of two categories:
- The fast track (regulation 6(2) application).
- The normal track (regulation 5(f) application).
Requirements for Cyprus Residency
For you to have a Cyprus Residency , you must meet the following criteria:
- A minimum capital of EUR 30, 000 deposit into an account in Cyprus. This deposit will be pledged for a minimum of three years. A confirmation letter from a financial institution in Cyprus for will certify this.
- Although,a proof which shows that the applicant has at his or her disposal a secured annual income of not less than EUR 30, 000. Such income shall be driven from abroad (salary, pension, dividends, fixed deposits, rent). It should be increased by EUR 5, 000 for every dependent person of his or her family (children and spouse). EUR 8, 000 for every dependent parent or parent in-law.
- The income must be from a legal source abroad.
Options in Real Estate for Cyprus residency permit
- The applicant should be own a property in Cyprus (house, apartment or other building) for a minimum value of EUR 300.000 (VAT not included).
- The applicant may purchase up to two housing units (apartments or houses). These houses can be bought by applicant independently, but be purchased from the same development company.For Example:
- One housing unit and a shop of a surface of up to 100 sq.m.
- A housing unit and an office of a surface of up to 250 sq.m, provided that the total market value is min EUR 300.000.
- For permanent residency, anyone that applies is not entitled to work or become engaged in any form of business as employee in Cyprus. However, applicants are allowed to set up their own companies/businesses and manage their companies as directors of their companies.
- Although,No sanction order must have been given to the applicant or any of his or her dependents.
- The applicant must visit Cyprus at list once every two years.
- Applicant must have a clean criminal record with will be certified by a legal institution.
Cyprus Permanent Residence by Investment Benefits
Cyprus residency by investment holds many benefits for the applicant as it is the cheapest residency by investment. Whether,fast track 6(2) or the normal track 5(f),only difference is that with fast track, the applicant will get his or her Cyprus residence permit within two months from application submission date. Other benefits includes:
- Easy liberty to enter and live in Cyprus with a Cyprus permanent residence visa.
- Also,You can apply for Cyprus citizenship by naturalization after seven years of permanent residency.
Contact us for Following Questions
Cyprus residency by buying property?
Cyprus permanent residence by investment?
How to get a permanent residence permit in Cyprus?
Cyprus permanent residency benefits?
Becoming resident in Cyprus?
Cyprus residency requirements?
Cyprus permanent residence and citizenship?