Permanent Residency in Cyprus

PERMANENT RESIDENCY

Recent changes to the immigration laws in Cyprus so as to further promote foreign investments into the country have also seen the Ministry of Interior simplify the entry of foreign nationals wanting to invest in Cyprus via one main programs relating to EU permanent residence.

                                                     

BENEFITS OF BEING AN EU RESIDENCE


FREEDOM TO LIVE IN THE EU COUNTRIES

FREEDOM TO WORK AND TRAVEL ANYWHERE IN THE EU

EU HAS A STRONG COMMITMENT TO HUMAN RIGHTS

FREE TRADE AND REMOVAL OF NON-TARIFF BARRIERS REDUCES COST AND PRICES FOR CONSUMERS

MUTUAL RECOGNITION OF SAFETY STANDARDS AND RULES HAVE HELPED REDUCE COSTS FOR FIRMS.

EU COMPETITION POLICY SEEKS TO AVOID ABUSES OF CARTELS MONOPOLY AND PROTECT THE INTEREST OF CONSUMER

1.5 MILLION YOUNG PEOPLE HAVE COMPLETED PART OF THEIR STUDIES WITH ERASMUS PROGRAMME

 

      RESIDE PERMANENTLY IN THE ISLAND OF CYPRUS

THE IMMIGRATION PERMIT GRANTS NON-EU NATIONALS,THEIR WIFE OR HUSBAND

 AND CHILDREN UNDER 18 YEARS OLD THE RIGHT TO PERMANENTLY RESIDE IN THE ISLAND AND

TRAVEL TO

CYPRUS WITHOUT IMMIGRATION ENTRY PROCEDURES.

 

Fast Procedure

This new, simplified, fast track procedure was introduced for issuing permits to non EU citizens who wish to invest in Cyprus by purchasing property. The procedure takes two months.

Applies for the family

It applies for the investor, their wife or husband and children under the age of 18. Children over 18 are also allowed to reside in Cyprus under the Family Reunification Act.

Geographical position

Cyprus offers a great place to visit/live, it enjoys a strategic geographical position, offers excellent worldwide connections, has excellent infrastructure, a pleasant climate and is highly stable.

FAST TRACK RESIDENCY

THE PROCESS

Applicant must gather all necessary papers required for application (see application criteria). The documents must be officially translated into Greek or English and certified with apostille (if in a country which has signed the Hague Convention of 1961) or stamped by the Ministry of Foreign Affairs and relevant Cyprus Embassy.

Selected property/ies (through visit to Cyprus or via correspondence). Sign purchase agreement and transfer funds to a secure account.

Receipt issued by developer, which is required for application.

Payment of submission fee €2,000 per adult applicant.

Application lodged, together with the property purchase agreement and all required documents, at the Ministry of Interior.

Citizenship approval from the Ministry of Interior within a 3 month period.

Payment of €5,000 per applicant approval fee.

Applicant (and spouse) must visit Cyprus within 3 months of receiving approval to affirm faith to the Republic of Cyprus in the district court and to collect their passport and identity card/s.

Submit the applications of children to be naturalised. Applications of minor children are processed within 3 week; they can visit Cyprus anytime to collect their paper.

Adult children’s applications are processed within 2 months and are subject to a submission fee of €2,000 and approval fee of €5,000.

Adult children must visit Cyprus within 3 months to make the necessary oath and collect their passport and identity card.

INVESTMENT CRITERIA

Cyprus citizenship may be obtained through a secure property investment, the financial criteria are as follows:

The Purchase Price must be at least 300,000 Euro (not including VAT)

At least 200,000 Euro (not including VAT) should be paid to the Vendor

Proofs of transfer of 200,000 Euro (not including VAT) from abroad must be provided

The applicant should also have a deposit of €30.000 pledged in a bank account in Cyprus for 3 years

APPLICATION CRITERIA

In addition to make a financial investment applicants must also meet the following criteria/supply the following documents:

Passport

Birth certificate

Police clearance certificate from country of origin

Marriage certificate (if applicable)

Detailed biography