Cyprus remains an attractive destination from a residency perspective, benefiting from a warm Mediterranean climate and convenient location at the crossroads of Europe, Asia and Africa.
In 2016, the Cypriot government reduced its criteria for granting immigration permits for third country nationals investing in Cyprus in a bid to stimulate foreign investment and boost its economy.
Investment Criteria for Cyprus Residency
Purchase of Property
(Residential or Commercial)
1. The purchase of property of at least EUR 300,000 (excluding VAT) with official payment receipts of at least EUR 200,000 plus VAT, irrespective of the handover date. The title deeds or sales contract must be filed at the Department of Lands and Surveys and it should be emphasized that the entire property payment will be settled in a financial institution in Cyprus. The property can be purchased by a company if the applicant(s) is the sole shareholder or the ultimate beneficial owner.
Confirmation Letter
Minimum deposit of 30,000
2. The provision of a confirmation letter from a financial institution in Cyprus showing that the applicant has deposited a minimum of EUR 30,000 into their account, which must remain there for at least 3 years. After this period, the money can be used again without restriction
Proof of Disposable Income
of at least EUR 30,000*
3. Proof of disposable annual income of at least EUR 30,000* derived from abroad which must increase by EUR 5,000 per dependent person (spouse or child) and by EUR 8,000 per dependent parent or parent-in-law. The source of this income may include salaries, pensions, dividends from shares, fixed deposits, and/or property rent.
Time frame & Process
Approval for Cyprus Residency will conclude within 2 months of the initial application by the Civil Registry and Migration Department. Once Residence has been approved, the applicant(s) must travel to Cyprus within 1 year of approval in order to obtain their Residence Permit.
Benefits of Cyprus Residency:
High approval rate
once all criteria have been met.
No minimum stay
or relocation to Cyprus required– the applicant must visit Cyprus once every 2 years to be maintained.
Residency for whole family
(spouse and children age 18 and below)
Eligibility
for parents and dependent children (aged 18-25)
Option for citizenship
by naturalization after residing in Cyprus for approximately 7 years out of 10 calendar years
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The UAE is a zero-tax jurisdiction which enables individuals to optimally allocate their resources and benefit from the associated fiscal benefits.
Through our years of experience, we have developed a complete and comprehensive residency package that is unique.
Cyprus Investment Program
The Cyprus Investment Program grants full Cypriot Citizenship (passport) to those who invest a minimum EUR 2 million into the country for at least 3 years.
The Cyprus Investment program is one of the fastest and most efficient programs to obtain citizenship. Following the submission of an application, clients can expect to receive approval within 3 months and will receive their passport a further 3 months after their successful approval.