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Residence Cyprus

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Residence Program Cyprus

Cyprus Residence Program Overview

Cyprus offers an attractive residence program designed to encourage foreign investment and provide high-net-worth individuals with an efficient pathway to European residency. Strategically located in the Eastern Mediterranean, Cyprus provides a stable, business-friendly environment with access to high-quality education, healthcare, and a low tax regime. While the Cyprus Citizenship by Investment Program has been discontinued, the Residence by Investment Program remains an excellent option for investors.

Key Requirements for Cyprus Residence Program:

To qualify for Cyprus’s Permanent Residence Program, applicants must meet the following criteria:

  1. Property Purchase:
    • Invest in a new residential property with a minimum market value of EUR 300,000 plus VAT.
    • The property can be purchased by the applicant, a company owned by the applicant, or their spouse.
  2. Bank Deposit:
    • Deposit a minimum of EUR 30,000 in a Cypriot bank, locked for three years.
  3. Annual Income:
    • Show proof of annual income of at least EUR 30,000 from sources abroad.
    • For a spouse and each child, an additional EUR 5,000 is required, and EUR 8,000 for each dependent parent.

Benefits of Cyprus Residence Program:

  1. Fast Processing:
    • Applications are processed within approximately two months with a high approval rate.
  2. No Residency Requirement:
    • Applicants are not required to reside in Cyprus but must visit once every two years.
  3. Family Inclusion:
    • The residence permit extends to the entire family, including the applicant’s spouse, children under 18, and dependent parents.
  4. Education:
    • Dependents can enroll in high-quality English-language schools in Cyprus.
  5. Permanent Residence:
    • Once granted, the residence permit is permanent, with no need for renewal.
  6. Quality of Life:
    • Cyprus offers a high standard of living, excellent healthcare, and education systems, and a favorable tax regime with no worldwide income or inheritance tax.

Application Procedure:

  • Application Fee:
    • EUR 500 for the application and EUR 50 for biometric recording.
  • Approval Timeline:
    • The approval process takes around two months. Upon approval, applicants must visit Cyprus within one year to collect their residence permit.

Additional Information:

The Cyprus Permanent Residence Program is designed to provide a fast-track process for applicants who meet the investment and income requirements. Cyprus’s favorable tax regime, strategic location, and membership in the European Union make it an ideal place for investors and their families to reside.

Our team of expert consultants will guide you through the entire application process, ensuring a smooth and successful journey to obtaining Cypriot permanent residency.

Why Choose Cyprus?

  • Strategic Location: Cyprus is at the crossroads of Europe, Africa, and Asia, offering a unique gateway to three continents.
  • Stable Economy: A robust and growing economy, with strong ties to the EU and excellent investment opportunities.
  • High Quality of Life: Cyprus combines a favorable climate with a high standard of living, making it a desirable place to live and invest.
  • Low Taxation: Cyprus offers a low-tax environment, with no taxes on worldwide income or inheritance.
  • Safety and Security: Cyprus is known for its safe environment, political stability, and welcoming local culture.

Contact Us Today

If you’re interested in learning more about the Cyprus Residence Program or beginning your application, please contact our dedicated team. We provide expert guidance at every step of the process to help you achieve your goals of obtaining Cyprus residency for you and your family.