26 Dec Permanent Residence in Cyprus
Legal Basis
§ Exempts from immigration entry procedures (i.e., Visitor’s Visa)
§ Caters both for the investor’s personal and business needs (i.e., the holder can be a shareholder and a Director in her/his Cyprus company)
§ The investor’s family can also obtain it (spouse, children under 18 years old, financially dependent children up to 25 years old and parents/in-laws)
o Purchase of one or two, new residential property/ies in Cyprus with total purchase cost of at least €300.000 (exl. VAT). At least €200.000 of the purchase cost must be settled at the application stage with funds from abroad
o Purchase of new or resale commercial real estate
o Purchase of shares of a Cyprus Company with activities and staff in Cyprus
o Purchase of units of a Cyprus Investment Organization of Collective Investments (AIF, AIFLNP, RAIF)
§ The applicant should have a secured and steady income of €30.000 p.a. (this amount increases to cover family members).
§ In cases of investment in non residential options the investor needs a residential property in Cyprus (to own or rent).
§ Hold a Clean Criminal Record from the country of residence and/or origin, and not constitute a threat against public order or security in Cyprus.
§ In case of breach of any requirement / condition, the Permit shall be revoked for the investor and the family.
Our Services
§ Advise on questions/issues that need to be clarified
§ Assist in drafting relevant required documents
§ Assist with the legal overview of the purchase agreement and/or of the relevant documents
§ Assist with the real estate due diligence and examine tax implications (if required)
§ Prepare the application pack in line with the required quality standards and submit it to the Authorities
§ Monitor the review process and update you accordingly
§ Act as a liaison with the Authorities during the examination of the application
§ Escort you and your dependants to the Civil Registry and Migration Department