Permanent Residence in Cyprus

Permanent Residence in Cyprus

Legal Basis

 Regulation 6(2) of the Cyprus Aliens and Immigration Regulations, (3rd revision, March 2021).

 Benefits to the holder

 §  Gives the right to permanently reside in Cyprus

§  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)

 Important information

 §  The applicant must proceed with an investment of at least €300.000, in one of the following categories:

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 

 §  Consult you on the eligibility requirements

§  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