In 2012, the Government of the Republic of Cyprus introduced new legislation which enables non-EU citizens to obtain a Cyprus residence permit by investing in Cypriot property.
Cyprus Permanent Residency
- Non European Citizens who are buying property for residency at a value of minimum €300,000 + vat are entitled to residency.
- No need to reside in Cyprus.
- Fast process (only two months).
- Language examination is not required.
- Ability to reside in Cyprus with no limitation.
- Free education for children.
- Ability to establish a business.
- The right to apply for citizenship in due course.
- The Residency can apply to the applicant/s (single or couple), their parents and to their children – 3 generations.
Requirements
- Proof of a guaranteed annual income of €30,000 which is not sourced from employment in Cyprus, but rather from other sources. This annual income increases by €5,000 for each dependent family member and €8,000 for each dependent parent (of the applicant and/or his spouse.
- Provision of a letter from a bank in Cyprus confirming that the applicant/s have deposited a minimum amount of €30,000 secured for a period of at least three years.
- The applicant/s must provide proof confirming that they/he/she don’t have a criminal record/s.
- Declare that he/she is not planning to work or be employed in Cyprus.