Are you a Non-EU national looking for indefinite duration residency permit in EU?
Cyprus Permanent Residency by Investment Programme – Now
Faster and Easier
Why choose Cyprus?
Cyprus provides an ideal destination for non-EU individuals wishing to acquire permanent residence in an EU country. The whole process is simple and fast.
The Minister of Interior of the country has recently introduced an improved and speedier procedure for providing permanent residence through investment to third country nationals.. The new procedure establishes a new legal framework by which the process of obtaining immigration permits is simplified and accelerated. All applications are examined in a positive light and the immigration permit shall be granted, provided all necessary criteria are met. Once obtained the permit will also cover the applicant’s spouse and dependants and shall not be cancelled, provided that all criteria are maintained.
The Cyprus Permanent Residency programmes are currently the most desirable residency permit immigration programmes in Europe due to the very attractive key benefits and have proven widely successful in attracting investment from third country nationals. Since 2013, there have been over 2,000 successful applications for Cyprus Citizenship by Investment and the Permanent Residency Programs combined.
Benefits of the programme
- Full member of the European Union
- Cyprus will soon enter the Schengen Zone of Europe allowing all Cyprus PR holders to travel freely through Europe. At the moment it is very easy to receive a Schengen Visa once you have CY PR, the whole process takes approximately 30 minutes and the visa is valid for up to 2 years.
- Fast track application process within 2 months
- Investment in real estate of minimum €300,000.00 excluding VAT
- Applicant owns a FREEHOLD residential property
- The Permit is PERMANENT and granted for an unlimited duration
- It is granted to the applicants minor children under 18 years old (some exceptions up to the age of 25 years old)
- Only required to visit Cyprus once every 2 years
- Access to Permanent Residency Visa (non-working but permanent stay status)
- Permit holders may own a Cyprus company and receive dividends from it.
- Do business and invest in other EU Countries taking advantage of Cyprus favorable tax regime and Double Tax Treaties
- No inheritance tax
- Eligibility to apply for Citizenship after 7 years of residence in Cyprus
- Strategic geographical location, forming a bridge between the EU, the Middle East, and North Africa with direct access to the Mediterranean Sea;
- Low crime rate
- An outstanding holiday destination.
Benefits of Cyprus Companies
Cyprus is one of the most popular destinations for Setting up offshore companies. There are various reasons for this such as;
- 12.5% corporate tax rate, one of the lowest in Europe
- Companies can be formed in just a few days
- Non-disclosure and anonymity rights
- Double taxation treaties with over 40 countries (including China)
- No withholding taxes on payments of dividends, interest or royalties paid to non residents (subject to conditions)
- No capital gains tax in Cyprus on sale of immovable property held outside Cyprus if the company is tax resident in Cyprus
Most popular Investment Option – Fast Track Procedure (Regulation 6(2) within 2 months
According to the provisions of Regulation 6(2) of the Aliens and Immigration regulations an individual investor can invest in residential and/or commercial property to the minimum value of €300,000.00 (excluding VAT) and be eligible to apply for Permanent Residency status in Cyprus for themselves and their family.
Other General Conditions:
The applicant must produce the required documentation in their application such as:
- Valid Passport
- Evidence of Proof of Funds
- Clear Criminal Record
Importantly the applicant must provide evidence of the proof of funds showing the intention to invest in the Country. Background checks must be done in order to verify investor’s funds come from a legal source and that the Individuals have valid passports and no criminal history.