Permanent Residence

GOVERNMENT INCENTIVES TO NON-EUROPEAN CITIZENS

On account of Cyprus’ ideal geographical positioning between three continents, Cyprus government has found it opportune to reinforce the real estate market, by motivating the increase of residence purchases by high net worth third country nationals.

Now Non-Europeans who invest in property in Cyprus are favored in regard to the obtaining of permanent residence permits, enabling their full or part time stay in Cyprus.

CYPRUS RESIDENCY SCHEME / IMMIGRATION PERMIT

INVEST IN CYPRUS AND GET PERMANENT RESIDENCY STATUS WITHIN 2 MONTHS

Excellent commercial infrastructure, low tax rates and numerous tax benefits make Cyprus an important International hub. Cyprus is an ideal country for businesspersons, who wish to purchase a personal residence & get Permanent Resident status on Fast Track.

Cyprus Investment Residency Program is a Fast-Track program to get Permanent Residency status in Cyprus, aiming to support and strengthen the economic condition of the country and real estate market.

With a minimum investment of €300,000, the principal applicant can purchase a personal residence and live with the entire family for an indefinite period as Permanent Residents. There is no strict net worth, management experience, language, or education requirements to be fulfilled. Cyprus has free-market services-based economy & is one of the most prosperous countries in the Mediterranean region & Europe.

With Category F visa, an applicant besides the right to become permanent residence in Cyprus, enjoys numerous other benefits such as free movement within other European countries and no tax is levied on worldwide income. Indeed after 5 years of Permanent Residency on the island, the family can apply for Cyprus citizenship and passports.

The Cyprus Investment Residency Program is one bright chance for High-net-worth Individuals and businesspersons to purchase a property in Cyprus & become Permanent Residents of this prosperous country. Sweet Home Estates strives to offer you professional & genuine guidance. Our successful track record is a warranty for you.

Permanent residency is easy to obtain. The applicant needs to submit an application with all required documents to immigration office and provide proof that he and his family are self-supported.

FINANCIAL CRITERIA

Non-European National acquiring properties in Cyprus at least €300,000 + VAT.

  • Residential Property:
    One or two brand-new residential properties of total value €300,000 + vat
  • Commercial Property:
    Any other real estate property investment is eligible including offices, shops, hotels, retail premises. The investment shall be of at least €300,000 and could be resale/used properties as well.

CONDITIONS

  1. The applicant must submit a clean Criminal Record Certificate
  2. The applicant must provide evidence that he has at his disposal a secured minimum annual income of €30.000, from sources other than employment in Cyprus. The required income of €30.000 could derive from salaries of employment abroad and not in Cyprus, pensions, stock shares, rents, etc. The necessary minimum annual income is increased by €5.000 for each dependent person and and by €8,000 for each parent of the main applicant and/or the spouse
  3. The permanent visa is valid for ever or for as long as the holder owns the property in Cyprus. The holder is allowed to replace the approved property by acquiring another one of at least the same value
  4. The holder shall visit Cyprus at least once every 2 years.
  5. The holder is not allowed to work or be engaged in any form of business in Cyprus, but may own shares in Cypriot companies and receive dividends, or income/rents from commercial real estate properties.
  6. Applicant’s spouse and minor children under the age of 18 will also be granted permanent residence.

SUBMISSION AND EXAMINATION OF AN APPLICATION

The application should be submitted on Form (M.67) to the Civil Registry and Migration Department or to the District Offices Inside the file there shall be included a check list of all necessary documents, which must be submitted with the application form, which must be completed by the applicant or by a representative of the applicant.

The applicant must submit the application form accompanied with a Title of ownership or contract of sale, of a property in Cyprus, a house, apartment or other building, of a minimum market value of €300.000 and proof of payment for at least €200,000. The contract of sale should already have been submitted to the Department of Lands and Surveys.

Fast Track applications shall be approved within 2 months.

WHY TO OBTAIN CYPRUS PERMANENT RESIDENCE

  • Freedom to live and travel through Europe
  • No requirement to live in Cyprus
  • Fast Track applications shall be approved within 2 months.
  • The permits don’t expire; no renewal required
  • No language, education tests or medical examinations required
  • Permanent residency for main applicant and their dependents (children, parents, spouse)
  • Applicants can own a business in Cyprus (conditions apply)
  • Permanent Residency holders can apply for citizenship after seven years

The Cyprus Investment Residency is a bright chance for High net worth Individuals and businesspersons to invest in Cyprus Real Estate market and enjoy benefits of European residency. Sweet Home Estates strives to offer you professional & genuine guidance. Our successful track record is a warranty for you.

Permanent Residency schemes is easy to apply. The applicant needs to submit an application with all required documents to immigration office along with all required documentation.

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