CYPRUS coat of arms image

Overview

Cyprus offers a fast track option to obtain Permanent Residence status within 2 months.  PR permit holders are free to enter and live in Cyprus without the need to obtain a visa, although they are not obliged to live in Cyprus. The benefit of holding a Cyprus Permanent Residence status is that PR holders have the right to use all of the embassies in Cyprus to apply for a Schengen Visa, current processing times for obtaining the visa in Cyprus are 3 working days as opposed to the typical 2 weeks in many other Embassies.

On the 22nd February 2016, the 2nd Revision regarding Criteria for granting an Immigration Permit within the scope of the expedited procedure to applicants who are third country nationals and invest in Cyprus, pursuant of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations was enforced.  The new regulations fast track and simplify the entire procedure. You and your family will obtain European Permanent Residence status without having to move away or renounce your current nationality.

Permanent Residency Timeline: 2 months (Fast Track)
Citizenship Timeline: N/A
Nationalities supported: Open to all non-EU nationalities
Investment type: New Build Property
Investment cost: €300,000

Benefits

Personal Freedom

Personal Freedom

Fast process to Permanent Residency (2 months)


No need to reside in Cyprus   


No language requirements


Open to all non EU nationalities

Business Advantages

Business Advantages

No Cypriot Tax liability


Cyprus is set to join the EU Schengen zone soon (expected 2017)


Cyprus is at the crossroads of 3 continents, Europe, Asia & Africa.

Family Security

Family Security

PR have access to high quality free education in Cyprus, including several UK universities


High standard of healthcare facilities 


Easier access to visas for non-EU countries.


Spouse and children below 25 obtain PR Permits. 


Dependent parents and parents-in-law can apply for PR Permits.


Permanent Residence is valid for life and can be passed down to dependents and spouse

Costs

The Cyprus Permanent Residence Program requires making an investment into new build real estate.

Option - New Build Real Estate Investment
View costs

Real Estate

€300,000
Government

Application Fees

€500
Cash Deposit (pledged to be held in a Cypriot bank for 3 years) €30,000

For a full breakdown of the government fees, legal fees and other fees payable, please contact us.

Timeline

WEEK 1
WEEK 1

Signing of CI Retainer Agreement and first Payment of CI Professional Fees.

All Documents collected and file prepared.

WEEK 2
WEEK 2

The Client selects the property (through a visit to Cyprus or remotely). Sign Purchase Agreement and transfer funds to a secure Client Escrow Account. Receipt issued by the developer which is required for the Permanent Residence application.

Government Fees are payable at this stage and Citizenship Application is submitted at to the Ministry of Interior.

File Submission Payment of CI Professional Fees is payable.

MONTH 2
MONTH 2

Permanent Residence approval is received

Final CI Professional Fees are paid

Receipt of Cypriot Permanent Residence

General info

The Republic of Cyprus joined the European Union on 1 May, 2004 and joined the Eurozone on 1 January, 2008. 

Soon after independence in 1960 the Republic of Cyprus became a member of the United Nations, the Commonwealth, the Non-Aligned Movement and the Council of Europe. Cyprus subsequently became a member of other international organizations, including the Organization for Security and Cooperation in Europe, and the World Bank. 

The country is located in the Mediterranean Sea, a short distance from Lebanon, Syria, Turkey and Egypt. Cyprus enjoys an idyllic Mediterranean lifestyle, beautiful beaches,340 days of sunshine a year and welcoming friendly people in a relaxed environment. 

Cyprus offers a high standard of living, modern transport and infrastructure, excellent academic institutions (several accredited European Universities such as British), access to quality medical services, a stable government and a robust legal framework which is based on British law and fully harmonized with EU directives. 

The country is ancient with rich history, known as the Jewel of the Mediterranean and the birthplace of Aphrodite, the ancient “Goddess of Love”. Although the official language is Greek and Turkish, English is spoken in all walks of life. 

To know more about investing in Cyprus’s permanent residence program, please contact us or send a call back request and one of our specialists will contact you to discuss your needs.