The Cyprus Golden Visa comprises the Permanent Residency by Investment Program that was initiated in 2013 for non-EU nationals. Investors can obtain Cyprus permanent residency with an unlimited duration by choosing one of the four investment options. This is a type of visa and it should not be confused with the citizenship by investment program, which has been discontinued since 2020. It is worth noting that Cyprus became an official member of the EU in 2004.
Citizenship Invest ensures the highest success rates through experience and a solid track-record with the different Governments. Every year, we help hundreds of individuals and families to acquire a second residency or citizenship by investment. Citizenship Invest successfully helped clients from over 85 countries around the globe. Most importantly, we have a long-term view of ‘client-advisor’ relationships and commit to our clients for life.
The process is efficient and only takes approximately 3 months.
Spouses and dependent children up to 25 years old are included under one application.
Eligible for Cyprus citizenship after 5 years of living in the country. Once you acquire the Cyprus citizenship and passport you can travel visa free to 177 countries worldwide.
Please note that the Cyprus residence does not grant visa-free travel to European countries or the Schengen zone because Cyprus is not yet a member of the Schengen zone.
Right to Healthcare for all applicants.
Note that the residency by investment does not give the applicant the right to work, with limited exceptions.
No Tax on Worldwide Income and no Inheritance.
In addition to one of the three investment options, investors must demonstrate an annual income of at least EUR 50,000, and additional EUR 15,000 per year for spouses and EUR 10,000 per year for each dependent. Spouse’s income (if any) can be considered which may include salaries, wages, pensions, dividends, fixed deposits, and rental income.
Golden Visa real estate investment entails purchasing new residential properties from a developer or a resale commercial property. The investment must be paid in full with funds from abroad, not sourced or borrowed within Cyprus.
If the property is for the investor’s personal use, the VAT is reduced to 5%. Residential properties must be new, off-plan properties are included irrespective of the delivery date. Commercial properties may include offices, shops, hotels which are resale or used.
To purchase shares or establish a Cyprus company and invest in the share capital. The company must be based and operating in the Republic of Cyprus and have a proven physical presence and an employee minimum of five (5) people.
Forms of AIF, AIFLNP, RAIF
Cyprus Growth Fund: This fund invests in a diversified portfolio of Cypriot companies.
Cyprus Opportunity Fund: This fund invests in small and medium-sized enterprises in Cyprus.
Cyprus Infrastructure Fund: This fund invests in infrastructure projects in Cyprus.
INCOME REQUIREMENTS
In addition to the investment, the applicant must show a secure annual income of EUR 50,000 from abroad. If the applicant wishes to bring their spouse, the annual income is increased by EUR 15,000 (the spouse’s income can count towards this) and if he wishes to bring dependent children the income is increased by EUR 10,000 for each child.
VERIFICATIONS There are some verification requirements concerning the investors’ visa. Every year (annually), you should submit evidence that you maintain the investment, and health insurance certificate for yourself and your family. Every three years, you should submit the following a clean criminal record for yourself and your family from your country of origin and residence. Also you must not acquire permanent residence abroad, or absent yourself from Cyprus for two years. In either case, you lose the permanent residence right.
OTHER COSTS
In addition to the required investment, there are other costs for the Cyprus Permanent Residence by Investment program, which are Government Fees, Citizenship Investprofessional fees, documents certifications when applicable, courier fees, and other small disbursements. Please get in touch with us if you wish to receive a detailed quotation outlining all costs.
Citizenship Invest Retainer Agreement signed and first Payment of Citizenship Invest Professional Fees.
Arrangement of appointment for the filing of the application.
Opening a Cypriot Bank Account.
The applicant chooses the investment type and transfers the investment amount.
Collection of required documents and putting the file together as per the Government’s guidelines
Submission of the application and supporting documents to the Migration Department in Nicosia.
Approval and Cyprus Permanent Residency Permit is issued.
Once the Permanent Residency Permit has been granted, the applicant must visit Cyprus within one year to provide biometric data and collect the permits.
The estimated time to receive residency approval depends on the due diligence processing time and the specific case.
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The main applicant must be at least 18 years old.
The applicant must have a clean criminal record and a good reputation.
The applicant must be in good health and provide a medical certificate.
The applicant must make a qualifying investment in one of the investment choices listed and pass a background check and due diligence review.
At Citizenship Invest, we specialise in providing efficient and seamless support for acquiring the Cyprus Residency. Our dedicated Document Collection Specialist plays a crucial role in simplifying the application process by streamlining the required documentation to focus on essential elements. We understand the importance of making the document collection procedure as straightforward as possible, and we are prepared to handle document acquisition on your behalf, minimising your active involvement.
Please note that the requirements mentioned below are provided as general guidelines. Rest assured that our team thoroughly evaluates your unique case to create a personalised checklist tailored to your specific needs.
“Citizenship Invest is highly recommended for their helpfulness, they answered all of my questions and concerns in a very timely manner, explained all of the processes extremely carefully, and cleared my doubts and concerns multiple times.”
“I had a great experience with the document collection team, they were very detail oriented and made sure to mention everything I needed to know. They also provided great customer service and were very friendly. I would definitely recommend them to others.”
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