Live in Cyprus
Live in Cyprus
Permanent Residency - Cyprus
Permanent Residency In Cyprus
Arrow
Arrow
Slider

PERMANENT RESIDENCY

PROGRAM OVERVIEW
  • Concerns NON EU citizens
  •  It is granted to applicant, his spouse and the parents till• It is granted to applicant, his spouse and the parents tillthe rest of their lives
  • It is granted to applicant & spouse's parents ( Fast track Procedure)
  • It is granted to applicants children up to 18 years old• It is granted to applicants children up to 18 years old
  • It is granted to applicants dependent children from 18 years to 25 years• It is granted to applicants dependent children from 18 years to 25 years
  • Children who have received the permit shall keep it for lifetime
  • Holders of this Permit are not entitled to work in Cyprus• Holders of this Permit are not entitled to work in Cyprus
  • Holders of this Permit may own Cyprus Company
    and receive dividends from its profit
PERMANENT RESIDENCY BENEFITS
  • Fast track application procedure, within two months
  •  Fast track application procedure, within two months
  • High approval rate if all criteria is satisfied
  • It is not necessary to reside in Cyprus but a visit once everytwo years is required
  • Dependents can be enrolled in high quality private schools, offering English language courses
  • Residence applies to the whole family (applicant, spouseand children under 18 years old)
  • Dependent children between 18-25 and parentsof the applicant are also eligible
  • The whole process can be arranged without being presentin the country, however, a visit is required for biometric capturing
  • Freehold Property
  • No inheritance tax
  • One of the lowest property taxes in the world
  • Easy travel to other European countries
CATEGORY OF PERMIT REQUIREMENTS
  • Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give the applicant and his/her dependants a decent living in Cyprus, without having to engage in any business, trade or profession.
  • Income required per year should be at least €30,000 for a single applicant plus €5,000 for every dependant.• Income required per year should be at least €30,000 for a single applicant plus €5,000 for every dependant.• New changes in 2016 now allow the parents of applicant and his/her spouse to be added to application by providing a further €8,000 per dependant parent. (Fast track procedure only)
  • The applicants should purchase a property with a minimum value of €300,000 plus VAT. (Fast track procedure only)
  • Minimum bank deposit of €30.000 pledged for at least 3 years in a Cyprus bank is required plus€ 5,000 for each child included in the application.
Cyprus-residency-passport

ADDITIONAL INFO : It is also possible to obtain permanent residency with the same requirements as above without applying as fast track procedure. The non-fast-track procedure takes 9 to 12 months to be approved. This is not guaranteed like the fast track, however if the client can fulfil the requirements needed then the chances of being declined are very small. The client should purchase a property with a value of approximately €150,000 in order to improve the success of approval.

SOURCE: CIPA (Cyprus investment promotion agency)