CYPRUS RESIDENCY

Cyprus aims in strengthening its competitiveness as one of the main investment and residency destinations in EU by continuously enhancing and developing its key economic sectors. On the 24th of March 2021, the Cyprus Government announced a number of important changes to the provisions of the Aliens and Immigration Regulations on Residency clause 6(2)

Permanent residency status in Cyprus can be obtained through the Permanent Residence Program. Arguably the best fast track program in Europe that permits foreigners to acquire an Immigration Permit through property investment.

It’s a wonderful opportunity where you can invest as little as €300,000 in a new property with Leptos Estates and get Cyprus permanent residency program comes in 60 days. You can also apply for Cyprus citizenship and Cyprus passport after 7 years.

The process of getting a Cyprus PR card takes only two months.

It grants you and your family visa-free entry to Cyprus, permanent residency, and the right to reside in the country and also open your business.

It’s valid for life with no need to renew. Also gives you easy access to Europe. You can make it your holiday home too & for the period you don’t want to live in it you can earn a good rental income.

Permanent residency is valid for life as long as the property remains in the name of the applicant.

FAQS

FOR THE ENTIRE FAMILY: PARENTS – CHILDREN – GRANDPARENTS

Cyprus Permanent Residence Permit covers the whole family including dependents and parents of the applicant and his/her spouse

PROPERTY INVESTMENT: ONLY 300,000 EUROS

Guaranteed fast track straightforward procedure. The property must be bought from a licensed development company (first sale property)

VALID FOR LIFE: NO NEED FOR FUTURE RECONSIDERATION

The Permanent Residence Permit is valid for Life. You need to visit Cyprus once every two years at least for one day

EUROPEAN PASSPORT: YOU BECOME ELIGIBLE FOR CITIZENSHIP

Cyprus Permanent Resident has the right (under certain conditions) to apply for a Cypriot passport following their physical presence on the Island.

VISA REQUIREMENTS: NO VISA NEEDED TO ENTER CYPRUST

he Cyprus Permanent Residency holder and his family are free to enter Cyprus without the need of obtaining a visa

SCHENGEN ZONE: CYPRUS IS EXPECTED TO ENTER THE SCHENGEN ZONE SOON

Cyprus along with Romania, Bulgaria and Croatia are expected to join the Schengen area soon

Investment Criteria

An individual is eligible to apply under the Permanent Residency Program through an investment in Cyprus of €300,000 including :

(A) Investment in residential real estate – house and/or apartment: Purchase of a house or apartment from a Land Development Company- first sale Property of at least €300,000 (plus VAT). I. the applicant must submit a Contract of Sale lodged at the Lands office/title deed of the minimum value of €300,000. At least €200,000 plus vat must be paid prior to the submission of the application and relevant receipts to be presented.

(B) Investment in real estate (excluding houses / apartments): Purchase of other types of real estate such as offices, shops, touristic or similar developments or a combination of these with a total value of €300,000. At least €200,000 plus vat must be paid prior to the submission of the application and relevant receipts to be presented.

No obligation for a Fixed deposit. It is notable that the obligation for a fixed deposit has been abolished and the applicant is no longer required to deposit the amount of €30,000 in a fixed deposit account for 3 years.