Cyprus Residence by Investment
Cyprus is a popular destination due to its warm climate and friendly tax environment. Since becoming a European Union member, immigration to Cyprus has grown significantly. Mostly known for its citizenship by investment program, Cyprus also offers residence by investment programs to third-country nationals. But the program also offers permanent residence to foreigner investors. Naturalization is possible after 7 years of residence in Cyprus. Applicants can add their dependents in the applications also, such as spouse, adult children and parents.
Real Estate Investor
The applicant should submit, together with the application, title deeds or a sale contract in his/her name and/or that of his/her spouse, which has been officially filed at the Department of Lands and Surveys, of a real estate property of total market value of at least €300.000 (V.A.T. is not included therein) and official payment receipts of at least €200.000 (excluding V.A.T.), irrespective of the delivery date of the real estate. It should be stressed that the full payment of the real estate value shall be settled in an account in a financial institution in Cyprus.
Category A: Persons who intend to work as self-employed in agriculture, cattle breeding, bird breeding or fish culture in the republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of approximately €430,000 (CY£250,000), and such employment should not negatively affect the general economy of the republic.
Category B: Persons who intend to work as self-employed in mining enterprises in the republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €350,000 (CY£200,000), and such employment should not negatively affect the general economy of the republic.
Category C: Persons who intend to work as self-employed in a trade or profession in the republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €260,000 (CY£150,000) and such employment should not negatively affect the general economy of the republic.
Category D: Persons who intend to work as self-employed in a profession or science in the republic, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
Category F: Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least €9568,17 (CY£5,600) for a single applicant and moreover at least €4613,22 (CY£2,700) for every dependent person, but the Immigration Control Board may demand additional amounts as necessary. Most applicants come under this category, the majority of them being pensioners or retired persons.
For more information visit the Cyprus Civil Ministry website.
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