Cyprus Permanent Residency
Eligibility for Cyprus Permanent Residency by Investment
- Applicants are required to purchase a residential property/ies of a combined value of 300,000 Euro +VAT.
- To qualify for the Cyprus Permanent Residency by Investment, the main applicant is required to maintain a 3 year fixed deposit with a Cyprus Bank of a minimum 30,000 Euro with funds that have originated outside Cyprus
- The Applicant must provide evidence of an annual income of 30,000 Euro minimum which has been originated from abroad, an additional 5,000 Euro for each dependant and 8,000 Euro for each parent included on the application.
- The main applicant and dependents must declare their intention of not been employed in Cyprus. Eligible dependents include the spouse, parents of the main applicant, and spouse’s parents as well as children up to the age of 27.
Permanent Residency under this programme grants the right to travel within the EU and may be considered the first step towards obtaining Cyprus Citizenship. In this respect, the Cyprus authorities have simplified the procedure for issuing PR Permits to non-EU Nationals.
Benefits of the Cyprus Permanent Residency Program
- No language requirements
- Cyprus is a common law jurisdiction
- Property acquired is freehold
- No inheritance tax
- Zero property tax
- Reduced 5% VAT
- At the crossroads of three continents: Africa, Asia and Europe
- Beautiful beaches, pleasant mild climate, rich culture and heritage
- Lowest crime rate in Europe
- High-standard educational institutions and healthcare facilities
- Advanced infrastructure and modern airports with connections to all major destinations