Cyprus Residency by Investment Program
In the heart of the Mediterranean lies Cyprus, financial and commercial centre of Europe, offering world class health-care and education system.
WHY CYPRUS?
- - Strategic location in the Mediterranean Sea
- - Permanent residency is granted
- - Express procedure (permit within 2 months)
- - Approved by the Cyprus Government
- - After 60 days tax residency can be obtained
- - Dependent children (up to 25) can apply
- - Only one visit is necessary for the permit.
MAIN CONDITIONS
Third country nationals (non-EU citizens) can apply for the Cypriot residence permit under the Regulation 5 of the Aliens and Immigration Regulations. The following qualifications are required for the application:
- - Clean criminal record
- - Purchase a property
- - Confirmation letter from a local bank
- - Evidence of annual income
- - Capturing biometric data from all applicants
The successful applicants must acquire the Cypriot residence within one year from the approval if the resident does not live in the country. The Ministry of Interior may revoke the residence permit if the resident does not visit Cyprus for two years.
PROPERTY PURCHASE
In line with the aim of attracting investments from abroad, the main requirement to applying for permanent residency is to acquire new residential property of a minimum value of €300,000 (plus taxes).
FAMILY MEMBERS
Permanent residency can be granted to the following family members:
- Main applicant and spose
- Children up to 17 years old
- The main applicants’ and/or spouse’s parents
- Adult children of the PRP applicant between 18 and 24 years old (provided they are students)
Married children of the main applicant between the age 18 and 24 year TAX ADVANTAGES As from January 2017 the newly enacted non-domiciled tax system offers a zero-tax rate on dividends, capital gains and interest.
