Cyprus

Cyprus Permanent Residency program

Passport Rank

18

Visa Free Countries

174

Investment Amount​

100,000 Euro

Processing Time

10-16 Months

Table Of Content

About Cyprus Permanent Residency

 

Cyprus Permanent Residency program, is a program directed to anyone who wants to move and live in Cyprus in exchange for buying and owning a property worth 300,000 euros or more within three months time under the Fast track option, provided that the investor maintains the ownership of the property for life to maintain the validity of permanent residence in Cyprus.

Investors can still obtain the Permanent residency if investing in properties less than 300,000 Euro under the regular track option, yet the process is prolonged to reach one and a half years (other conditions apply)

 

Program Benefits

 

Cyprus Permanent Residency program offers many benefits to any potential investor, the most important of which are:

  1. Permanent European residency for all eligible family members
  2. Ease of obtaining a Schengen visa after obtaining Cypriot permanent residence
  3. Tax exemptions and privileges.
  4. Leads to obtaining citizenship in the case of residency (conditions apply).
  5. Real estate investment with good return on investment.

Cyprus Permanent Residency Qualifications & Requirements for Investors

 

Requirements under the Fast track option: 

  1. The spouse of the main applicant.
  2. The dependent children under 25 years of age ، unmarried, who are financially dependent on the investor, and prove that they are studying at the university.
  3. Parents and dependents of the investor.
  4. Adult children of the main applicant under the age of 18, who have special needs and who are fully dependent on the main applicant.
  5. Proof sustainable income depending on the number of family members.

Requirements under the Regular track option: 

    1. The spouse of the main applicant.
    2. The dependent children under 18years of age ، unmarried, who are financially dependent on the investor, and prove that they are studying.
    3. Adult children of the main applicant under the age of 18, who have special needs and who are fully dependent on the main applicant.
    4. Proof sustainable income depending on the number of family members.
    5. Deposit an amount in a Cypriot bank.

Cost of obtaining Cyprus Permanent Residency

 

Costs required for permanent residence through investment in Cyprus (other than the real estate investment)  : 

  • Main Applicant, Spouse, and dependent below 18: 500 Euros .
  • Per independent above 18 years old: 500 Euros .
  • Medical Insurance: 170 Euros (per Applicant) ,and  255 Euros (per Parent above 65 years old)
  • Property transfer fees (percentage depends if the property is new or a resale) 

– Other fees may apply

Procedures and steps

 

  1. Step one:to collect the documents and papers necessary to complete the purchase of the property.
  2. Step two: Visit Cyprus and inspect the real estate in it to choose what suits the client.
  3. Step three: full commitment to conducting a security investigation about the property and ensuring its condition for purchase.
  4. Step Four: Submit an application for permanent residence to the Immigration Department of Cyprus.
  5. Step five: Upon approval, go to Cyprus, take biometric fingerprints and obtain a residence permit.
  6. Step six :Obtaining a permanent residency.

Our services

 

 Rich Immigration plays an important role as promoter of the permanent residence program in Greek Cyprus, we are at the forefront of providing a large variety of services to our clients, the most important of which are:

 

 

  1. Provide all the required information for the program .
  2. Assistance in visa procedures to Cyprus, including getting an invitation from Cyprus.
  3. Your travel plan to Cyprus will be scheduled and organized.
  4. Assistance in preparing and submitting the application.
  5. Continuously follow up on the status of your application and inform you of the latest updates.

 

FAQ's

In order to maintain the permanent residence status, you must visit Cyprus at least once every 2 years. There is no minimum stay duration for these visits
The spouse of the applicant and children 18 years old. can also obtain permanent residency . Adult children until the age of 25 can also apply if they are financially dependent on the applicant.(other conditions apply in case of investing less than 300,000 Euro)
Within 3 months from the date the application and attached documentation has been submitted to the Migration authorities.
If you want to maintain the Permanent residency status in Cyprus, then you will have to maintain ownership of property for life.
You can establish your own company while holding the status of permanent residency, but you cannot work as an employee in a Cypriot company.

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