Opportunity to open a business in Cyprus. Citizenship after five years.
Lowest income tax in Europe – 12.5%
Opportunity to own a business in Cyprus (receive dividends)
Possibility to obtain Cyprus citizenship in 5 years
Fast processing – the residency is issued in just 2 months
Residency is issued for a lifetime. All family members can obtain residency as well
Low residence requirement
Right for healthcare under General Healthcare System
The right to reside, settle and stay indefinitely in Cyprus
Multiple competitive investment options
Permanent residency of Cyprus can also be obtained by:
Investment for obtaining Cyprus permanent residence
Investment in new residential real estate
Purchase a new immovable property valued at least €300,000 plus VAT. It can be one or two residential properties for the above amount, and you can also purchase property from different development companies. It is important that the first foreign investment of €200,000 must be paid by the date of filing the application. You should deposit at least €30,000 into a Cypriot bank for a minimum of three years and attach evidence of secured annual income abroad of at least €30,000. For each additional dependent family member, this sum is increased by €5,000 or €8,000 for each parent.
Please keep in mind that to get Cyprus permanent residency, your purchase must be a “first-time sale.” This means that it was bought for the first time. If everything is done in a proper manner, the Civil Registry and Migration Department will grant the Cyprus permanent resident permit.
The minimum amount of investments in residential and non-residential properties – €300,000
Investment in non-residential real estate
This option requires purchasing a new or used immovable office, hotel, shop, or other developments up to 250 sqm, providing that the total value is no less than €300,000 plus VAT. Whatever you choose, it’s up to you. An applicant can also make a so-called mix by buying a few types of commercial properties, but the quantity should not exceed two units. The good news is also that it shouldn’t be a “first-time sale.” It is important that the first €200,000 must be paid by the date of filing of the application. In addition, you should deposit at least €30,000 into a Cypriot bank for a minimum of three years and attach evidence of secured annual income from abroad of at least €30,000. If everything is done in a proper manner, the Civil Registry and Migration Department will grant the Cyprus permanent resident permit.
Investment in a Cyprus company
Purchase shares in a Cypriot company or establish a new business yourself and invest in the share capital. A minimum of five local employees is required, and you should maintain employment for them. It is important that the company should have a proven physical presence.
Acquisition of shares in investment funds in Cyprus
Purchase units for at least €300,000 in the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF).
If everything is done in a proper manner, the Civil Registry and Migration Department will grant the Cyprus permanent resident permit.
| Investment in real estate | Investment in non-residential real estate | Share in Cypriot business | Share in Cypriot investment funds | |
|---|---|---|---|---|
| Minimum investment amount | From €300 000 | €300,000 | From €300 000 | From €300 000 |
| Investment income | Depending on the object | Depending on the project | Depending on the project | Depending on the investment object |
| Return on investment | Yes | Depending on the project | Depending on the project | Yes, depending on the fund |
| Holding period | During the tenure of permanent residence | During the tenure of permanent residence | During the tenure of permanent residence | During the tenure of permanent residence |
SIMPLE AND CLEAR PROCESS
1
Contract signing
Free preliminary background check (due diligence) of an applicant (1 day) and contract signing in one of our offices or remotely. At this stage, it will be sufficient to provide the passport copies of all family members who will be included in the residency application.
2
Documents preparation
We receive Police Certificates, fill out government forms, arrange notarization, translation, and apostilization of all the necessary documents, sending the package to our lawyer in Cyprus. You will only have to affix your signature before we send the documents.
3
Case review
At this stage, we submit the documents to the Civil Registry and Migration Department. A visit to Cyprus is not required.
4
Obtaining the residence card
After the Civil Registry and Migration Department approves your application, the residency cards are issued.
Contract signing
Free preliminary background check (due diligence) of an applicant (1 day) and contract signing in one of our offices or remotely. At this stage, it will be sufficient to provide the passport copies of all family members who will be included in the residency application.
Documents preparation
We receive Police Certificates, fill out government forms, arrange notarization, translation, and apostilization of all the necessary documents, sending the package to our lawyer in Cyprus. You will only have to affix your signature before we send the documents.
Case review
At this stage, we submit the documents to the Civil Registry and Migration Department. A visit to Cyprus is not required.
Obtaining the residence card
After the Civil Registry and Migration Department approves your application, the residency cards are issued.
To apply for Cyprus residency (and later for a Cyprus passport), you need to submit a package of required documents.
Required documents to become a Cypriot resident and later a Cypriot citizen:
Children from previous marriages can added in the application.
Financial dependence is confirmed by an extract on the transfer of funds from the account of parents to the account of their children, a certificate of full-time learning, the general registration address.
No, Cyprus permanent residency by investment is issued for a lifetime.
Yes, it’s possible to apply for Cyprus citizenship in 5 years after becoming a resident.
Yes, you need visit Cyprus to obtain your resident cards and then once every 2 years.
There are no residency requirements, however, you need to visit the country once every 2 years. You do not need to know the language, there is no language exam.
Yes, you need to submit your biometric data
All documents are sent by mail.
No, you don’t as you don’t need to renew your residency.
Yes, Cyprus isn’t a part of the Schengen agreement. However, you can apply for a visa under a simplified scheme. You need a visa to enter the US and the UK.
The main applicant and/or dependants can apply for a work permit by submitting an application for a ‘single work permit’ through the normal channels. We can help with this.
Confirmation of employment and/or ownership of business is required. The following documents may be requested:
- certificate of salary, dividends received;
- certificate from the tax authorities;
- documents on the sale of real estate or other assets;
- an extract from the brokerage account on the sale of securities or income received;
- sale or gift contract;
- other documents confirming the acquisition of income.
One or several documents can be provided, the checklist is agreed when preparing the case.
A Cyprus residency is issued within two months from the date the application is submitted.
The Regulations provide that the amount of €30,000 is fixed for three years. It is also possible for the amount to be in a currency other than Euro; provided the total value of the deposit is the equivalent of €30,000 at all times during the three year lock-in period. The interest rate applied to the fixed deposit depends on the terms of offer of each eligible bank. The beneficiary of the interest accrued is the depositor/applicant.
An applicant will either not pass the due diligence check, or will be deprived of his Cyprus residency in case it was obtained by providing false information, fraud or concealing true information, or in case he is found guilty under the laws of Cyprus.
provision of false information;
- involvement in terrorism, money laundering, crimes against humanity or crimes that violate human rights and freedoms, or admission of guilt in such crimes;
- availability of a criminal record or criminal proceedings for serious criminal offenses;
- posing a potential threat to public order, national security or the reputation of Cyprus.
GDP 2022 - projected to be around 24.80 USD Billion
Population 2022 - 1,229,262 people;
The capital is Nicosia;
Sectors of the economy - tourism, industry, agriculture;
According to The Financial Times, Cyprus is ranked 7th out of 12 among countries that offer citizenship by investment. Cyprus is ahead of Malta, Bulgaria, Austria and other European countries.
Cyprus's climate may seem the most obvious reason to buy permanent residency here. However, it's definitely not the last one. As an example, one can say that Cyprus has one of the most attractive tax schemes in Europe. Although this country is not a tax haven, it still has many tax benefits for international businesses. To be more specific, Cyprus has one of the lowest income tax rates in Europe. What is more, it also does not have an inheritance tax and capital gains tax (except for the tax on immovable property). One should not also forget about a big number of treaties that help avoid double taxation. Many of them have comparatively beneficial provisions. Thus, due to the permanent residence permit of this country, you'll have access to a simplified, effective and transparent tax regime, which is fully compliant with the laws and regulations of the European Union.
Note that tax residents of this country are subject to the worldwide income tax at progressive rates up to 35%. Your non-EU family members can also become Cypriot citizens due to investment in residential property and get a temporary residence permit in this country.
Based on the English common law system, Cyprus ensures transparency and reliability in business practices. Cyprus can be regarded as a remarkable business base for a number of investors. This country retains stable relations with most of the states in the European Union. However, location is not everything about doing business in Cyprus. It is also important to note that operational costs are lower than in mainland Europe. So Cyprus's permanent residency permit may stand you in good stead if you want to expand your business and pay tax at lower rates or don't have taxes at all!
Cyprus Investment Programme is a fast-track path to permanent residency, allowing third-country nationals to live, work, and study in the European Union and become full-fledged Cyprus citizens. This permanent residency permit covers access to a high level of life, a highly favorable tax system, access to reputable British schools, medical facilities, and much more. Basically, this program was implemented to increase foreign investment and support the country's economy.
According to The Financial Times, Cyprus is ranked 7th out of 12 among countries that offer Citizenship-by-Investment. Thus, Cyprus is ahead of Malta, Bulgaria, and Austria. Unfortunately, now citizenship is not available via an investment program, but its fast track permanent residency is none the worse.
Note! A former spouse cannot obtain citizenship.
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