Cyprus is an island nation in the Mediterranean Sea, that lies at one of the most strategic geographical locations in the world. Located at the European-African-Asian junction, Cyprus offers unique opportunities to investors with high net-worth to gain residence. Cyprus is culturally rich and one of the safest countries in the world, making it an ideal country for families and businesses. The Cypriot economy boasts in shipping, services and tourism through investments and property developments. It ranks remarkably high on the Index of Economic Freedom, Forbes Best Countries for Business, Ease of Doing Business, Global Competitiveness Index, and many other international rankings.
The Cyprus permanent residence Program offers resident permits to applicants from non-European countries in return of an investment in the country. The real estate investment option starts from:
The applicant must not hold any criminal history. An amount of €30000 will be deposited into a Cyprus bank account which will be kept for 3 years. The main applicant must prove an annual income of minimum €30,000 for himself, €5000 for each dependent including spouse and children, and €8000 for parents of the main applicant and/or spouse.
Yes, parents can be added to the Cyprus residency application
The application procedure takes 2 months
The process can be completed without the need to visit Cyprus; however, a visit is required for biometric capturing
The PR is valid for life
It is not mandatory to stay in Cyprus all year long, only a visit once in 2 years is required
Yes, it may after 7 uninterrupted years of residence