Cyprus/EU Citizenship or Permanent Residence. The relevant schemes have been running very efficiently, granting approvals within 3-4 months. Investors do not need to reside in Cyprus and they do not become tax residents (unless they spend over 183 days in Cyprus)
|€30,000 bank deposits in Cyprus|
|€30,000 annual income|
|Do not work in Cyprus|
|1 visit per 2 years|
|Clean Criminal Record|
- Cyprus Residence Permit is a lifetime permit.
- Cyprus Permanent Residence applies to the entire
- Cyprus Permanent Residents have the right (under conditions) to apply for a Cypriot passport following their physical presence for a total of 5 years within a 7 years presence.
- Cyprus Residence Permit offers the right for Schengen Visa application. Cyprus is expected to enter the Shengen Zone soon
Criteria for Granting the Cypriot Residency by Exception:
- 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.
- The applicant, together with his spouse, should prove that they have at their disposal a secure annual income of at least €30.000. This annual income should increase by €5.000 for every dependent person. This income should derive from abroad, and may include salaries from employment, pensions, dividends from shares, fixed deposits, rents a.s.o.
- The applicant should submit, with the application, title deeds or a contract of sale in his name and/or his spouse, which has been officially deposited with the Department of Lands and Surveys, for a dwelling or other building, of a total market value of at least €300.000 (V.A.T. is not included therein) and official receipts for the payment of at least
€200.000 (excluding V.A.T.), irrespective of the date for the delivery of the dwelling. It should be stressed that the full payment of the value for the dwelling shall be settled in an account in a financial institution in Cyprus. The abovementioned amounts must be proven to have been transferred to Cyprus from abroad.
- It is noted that the purchase of a dwelling may be accepted even when made in the name of a Company and not in the name of the applicant, provided that the Company is registered in the name of the applicant and/or in the name of the applicant and his spouse and he/they are the sole shareholders. In the event that the shareholder of the company is another legal entity, it must be proven that the sole shareholder of the said legal entity is the applicant and/or the applicant and his spouse.
- The applicant and his spouse must submit a confirmation of a clean criminal record from their country of residence and generally they should not be considered as a threat in any way to the public order or public security in Cyprus.
- The applicant and his spouse shall confirm that they do not intend to be employed in Cyprus in any direct or indirect manner. 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. The applicant and his family included in the Immigration Permit, must visit Cyprus at least once every two years.
Detail Information & Process for Permanent Residency Fast Track