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Republic Of Cyprus

CYPRUS RESIDENCY BY INVESTMENT

Fast-Track Residency In Cyprus For Entire Family Through Property Investment From €300,000.

The Cyprus Residency by Investment Program is the most assured route to acquiring a Permanent Resident Permit for a European country in just 2 months with no physical presence required.

Cyprus Residency Benefits

Cyprus Residency by Investment Program enables foreign investors to obtain a Cypriot permanent residence permit (PRP) in just 2 months through a property purchase from €300,000 (plus VAT). The property should be a first-time sale and may comprise of up to two housing units which must be purchased from the same developer. Once the PRP has been granted, applicants are required to visit Cyprus within 1 year to submit their biometrics data for issuance of their PR card, and should not be absent for more than 2 years. Cyprus Residency can be used as a first step towards Cyprus Citizenship. This can be acquired in 5 years, provided all the requirements are met.

Key Benefits Of Alternative Residency Or Citizenship

Residency Program With No Donation
Favourable Tax Regime
Highly Efficient Process

Visa-Free Travel And Global Mobility

The Cyprus Residency by Investment program can improve your global mobility if it is being considered as the first step towards acquiring citizenship on the island. Cyprus passport holders get visa-free access to over 173 countries, including EU & UK. While holding a Cyprus PR, applicants can easily apply for a Schengen visa and travel across Europe.

Investment Requirements

To qualify for the Cyprus Permanent Residency by Investment program, application are required to buy a first-time sale residential property or set of properties to the minimum value of €300,000 ( plus VAT ,if applicable),First-time sale stands for new properties and for resale. They must have been bought from a property development company.

€300,000 Purchase Of A Residential Property In Cyprus

  • Purchase of first-time residential property worth over €300,000 (plus VAT).
  • Applicants may buy a combination of real estate projects:
    • one apartment or house;
    • two apartments are two houses or a combination of each;
    • one apartment/house and one commercial shop/warehouse;
    • one apartment/house and one office.
  • The property must be brand new; no resale property would qualify.
  • Property should be purchased from the developer who built the property.
  • The Contract of Sale must be officially filed at the Cyprus Department of Lands and Surveys.
  • The property can be purchased by a company registered under the applicant’s name or jointly under the applicant and spouse. Applicant / spouse must be sole shareholders.
  • The property can be rented out.

Additional requirements

  • Main applicant must maintain a 3-year fixed deposit with a Cyprus bank of at least €30,000 transferred from abroad. After 3 years the money will be released without restrictions.
  • Applicants should provide supporting evidence of secure annual income from abroad of at least €30,000. For spouse and dependent children included in the application an additional €5,000 per person must be added to this amount and €8,000 for each parent of the main applicant or their spouse.
  • Applicants should have no intention to undertake any employment in Cyprus. They can own a business registered in Cyprus and receive dividends from this business.
  • Applicants must have a clean criminal record and should not be in the list of persons whose property is frozen by the EU as a result of sanctions.
  • Applicants must visit Cyprus within 1 year of the date of the PRP to provide biometrics for issuance of PR card. All family members are required to visit Cyprus once every two years.
  • PR holders may have their PRP revoked if they are granted permanent residence in another country.

Cyprus Residency Acquisition Process

Wide Range Business focus is to provide a hassle-free and seamless service, assisting you every step of the way with your property purchase and residency application. The entire process is efficiently managed by top professionals in the industry. We deal with all procedures efficiently on your behalf, based on professional expertise and years of experience.

1

Wide Range immigration advisers will evaluate your personal circumstances and guide you through each of the program’s stages, helping you to collate and check the required documents, and preparing the suitable property shortlist meeting your requirements and qualifying as investment.

2

We prepare for you a customised property shortlist consisting of properties matching your own requirements. We encourage applicants to visit Cyprus to view the shortlisted properties, and once the property is selected, we ensure that the purchase process is secure and hassle-free. We make certain that you have satisfied all other requirements, including guiding you in opening a bank account in Cyprus to put your fixed deposit into.

3

A detailed checklist will be provided, and you will be guided through the documents collection stage. Experienced immigration advisers will be checking all supporting documents for compliance to ensure all requirements are met.

4

The complete application for a residence permit, along with all supporting documents, will be submitted to the Civil Registry and Migration Department. The decision is made within two months.

5

Once the application is reviewed and approval is granted, you will be issued with an immigration certificate.

6

Within a year upon approval, the main applicant and all their family members included in the application must visit Cyprus to acquire the permit in person. The PRP holder may request Cypriot citizenship after 5 years (the last 12 months of which, the PRP holder would need to have continuously resided in Cyprus).