Papouri Court, Office 201

8201 Yeroskipou, Paphos

18D Gladstonos St

8046, Paphos

+35799851278

info@elegantcyprusproperties.com

Cyprus Permanent Residency Programme

Cyprus has always been considered as an ideal destination for Permanent Residence by Non-EU Nationals. The Cypriot Government recently announced certain amendments to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, which became effective on 24th March 2021.

I. Investment Criteria for Category 6(2) Fast Track Permanent Residency

In order for the applicant to qualify for Cyprus Permanent Residency an investment must be made of at least €300,000 in one of the following categories from funds that emanate from abroad:

A. Investment in house/apartment

Purchase of house or apartment which should relate to a first sale of at least 300,000 plus VAT

B. Investment in Real Estate

Purchase of other types of real estate, such as offices, shops, hotels or similar developments, or a combination thereof with a total value of €300,000. In this case, resales are acceptable.

  1. The applicant should be able to demonstrate that he/she has at his/her disposal a secure annual income of at least €30,000. Such annual income is increased by €5,000 for each dependent family member and €8,000 for each dependent parent of the Applicant or his/her spouse.
  2. If the applicant makes an investment under the criterion A it is important that the Applicant can prove that the income derives from abroad. In the event, that the Applicant invests under criterion B the source of income can be derived from activities within the Cyprus Republic.
  3. The applicant and his/her spouse have to certify that they do not intend to work in the Republic with the exemption of their employment as directors in a company in which they have chosen to invest provided they do not receive any salary.
  4. When investing under the above criteria, at least 200,000 plus VAT needs to be paid prior to submitting the application and that evidence should be provided that the funds for the investment must have emanated from abroad and are not a product of internal borrowing, and these funds need to be deposited in a financial institution in Cyprus in the Vendor’s bank account.
  5. The Immigration Permit is issued to the Applicant and it can include his/her spouse and dependent children up to the age of 18.
  6. Clean criminal record from his/her country of origin and residence.
  7. A checklist of mandatory documents will be provided to our clients. Our company will assist them throughout the procedure to secure that the application is dully submitted according to the law.

Application Criteria

II. Investment Criteria for Permanent Residency in Category F

In order to be eligible for the above type of permit, the applicant needs to be able to display the following criteria:

  1. The applicant needs to purchase a property in Cyprus of any amount. We suggest the property purchase to start at 100K. This includes resale properties as well. The money for the purchase is not necessary to derive from abroad.
  2. The applicant must show an annual income of at least 10,000 plus 5000 for each dependent person. This income should derive from abroad and can be from salaries, pensions etc.
  3. The applicant should deposit an amount in a bank in Cyprus. This money can be used after the application.
  4. Only children up to the age of 18 can apply as dependents.
  5. The holders of this residency must visit Cyprus once every two years otherwise their permit will be automatically cancelled.
  6. The holders are not allowed to work in Cyprus.