Cyprus
Since 2016, the government of Cyprus has implemented a policy that enables individuals to acquire permanent residency through investment. To be eligible for this program, applicants must meet the following criteria: they must be at least 18 years old, in good health, and have no criminal record.
In addition, applicants are required to deposit a certain amount of capital into a financial institution in Cyprus, which will be held as a pledge for a period of three years. Furthermore, applicants must make a real estate purchase and provide evidence of a stable annual income that can support both themselves and their dependents.
Eligibility
To be eligible for Cyprus residency by investment, applicants must meet the following requirements:
1. Investment Options: Applicants must choose one of the following investment options:
a. Real Estate Investment: Make a minimum investment of €300,000 in residential real estate, which must be new and purchased directly from a developer or a construction company.
b. Purchase or Establishment of Businesses or Companies: Invest at least €300,000 in purchasing or establishing a company or business in Cyprus. The business must have a physical presence in Cyprus and employ a minimum number of Cypriot or EU citizens.
c. Investment in Alternative Investment Funds or Financial Assets: Invest a minimum of €300,000 in Alternative Investment Funds (AIFs) or financial assets of Cypriot companies licensed by the Cyprus Securities and Exchange Commission
2. Clean Criminal Record: Applicants must have a clean criminal record and provide a valid police clearance certificate from their country of origin or residence.
3. Financial Stability: Applicants must demonstrate a stable and secure annual income derived from legal sources.
4. Health Insurance: Applicants must have valid health insurance coverage in Cyprus.
It is important to note that the specific requirements may be subject to change or additional criteria may apply. Therefore, it is advisable to consult with an authorized immigration professional to ensure the most accurate and up-to-date information.
Benefits of Cyprus Residency by Investment
- European Union Residency: Cyprus is a member of the European Union (EU), and obtaining residency in Cyprus provides individuals with the right to live, work, and study in any EU member state.
- Visa-Free Travel: Cyprus residency allows visa-free travel within the Schengen Area, comprising 26 European countries. This facilitates easy access to popular destinations in Europe for business or leisure purposes.
- High Standard of Living: Cyprus offers a high standard of living with modern infrastructure, excellent healthcare facilities, quality education, and a safe environment for residents and their families.
- Business Opportunities: Cyprus has a favourable business environment, making it an attractive destination for investment and entrepreneurship. Residency allows individuals to establish and operate businesses within Cyprus or explore investment opportunities in the region.
- Tax Benefits: Cyprus has a competitive tax regime, including a low corporate tax rate, no inheritance tax, no wealth tax, and various exemptions and deductions. This can be advantageous for individuals seeking tax optimization and wealth management.
- Lifestyle and Culture: Cyprus offers a rich cultural heritage, vibrant Mediterranean lifestyle, beautiful beaches, and a variety of recreational activities. Residency provides individuals with the opportunity to experience the diverse and enjoyable Cypriot lifestyle.
The estimated duration for the application process is six months. The initial stage,
which involves collecting the necessary documents, may vary in length based on the
applicant's ability to gather the required paperwork. Our team assists in this process by providing samples and advice on best practices.
The review stage is dependent on the schedule of the relevant Government authorities and may be affected by factors beyond our control as authorized agents. At Euroaxis, we maintain continuous collaboration with the Government throughout the entire process, striving to offer applicants the fastest and most seamless experience possible.
