REQUIREMENTS & CONDITIONS
1. Fast track procedure: Approval will be issued within approximately 3 months.
2. A € 2 million (plus vat if any) – Investment in a single Residence.
A single property to be used as a residence at a minimum value of € 2 million.
The residence must be retained by the investors for a period of 3 years.
After 3 years the Investor has the right to sell his/her property and buy another one at a minimum value of €500,000.
3. A €2 million (plus Vat if any) Investment in a selection of Residential Properties, out of which one property is to be used as a privately-owned permanent residence of a minimum value of €500,000.
The remaining € 1.5 million can be invested in a range of residential properties only, which may be resold after 3 years.
4. It is noted that members of the same family, who apply separately as investors , can collectively acquire a residence, provided that the total value of this home-property covers the amount of €500.000, per each applicant
5. In case that the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of €500.000,part of this additional amount can be used for purposes of supplementing the total amount of the investment made in the basis of the criteria of Part A above.
6. The applicant, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus.If the applicant does not already hold a residence permit, he/she may apply for an immigration permit on the basis of Regulation 6(2) of the Aliens and Immigration Law, simultaneously with the application for naturalization.
7. Any property/ ies purchased during the past 3 years, can also be included in the required investment amount.
8. The program applies to the immediate family of the applicant i.e the spouse and dependent children up to the age of 28 if full time university students.
9. Applicants must hold a clear criminal record from the country of origin and the country of residence (if different).
10. No requirement to physically reside in Cyprus, before/ after approval.
1. Accelerated process (only 2 months) from the date of the submission of the application.
2. No need to reside in Cyprus as long as the applicant and his family included in the Immigration Permit, visit Cyprus at least once every two years.
3.The applicant should be an owner of a property (sold for the first time by a development company) in Cyprus, a house, an apartment or any other building, for a minimum value of €300.000 + VAT (if any).
4. Options in property purchase – i.e. two independent housing units or one housing unit and a shop or one housing unit and an office as long as the total amount is for a minimum value of €300.000 + VAT (if any).
5. The immigration permit issued to an applicant covers his spouse and children under the age of 18. The said permit is also applicable for unmarried children aged 18 to 25 who may prove that they are students at a University and are financially dependent on the applicant. The said permit will be valid for life after the age of 25 without any other supportive document.
6. Documentation as proof that the applicant and/or his spouse have a secured minimum annual income of €30.000, (increase by €5,000 for each dependent person) from sources originating from abroad (salaries, pensions, dividends, fixed deposits, rents a.s.o.).
7. The parents of the main applicant and those of his spouse are also able to apply and obtain the Permanent Residence Permit by just showing an extra 8,000 euros each on the main applicant’s income certificate.
8. The applicant should submit a confirmation letter from a financial institution in Cyprus that he has deposited a minimum capital of €30.000 into an account, which will be pledged for a period of at least three years. It must be proved that the said amount has been transferred to Cyprus from abroad.
9. The applicant and his family included in the Immigration Permit must submit with their application, all documentation needed as per the checklists provided by the Cyprus Government.
10. The applicant and his spouse shall confirm that they do not intend to be employed in Cyprus but it is to be noted that the applicant and/or his spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit.