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Global Residence - Cyprus Permanent Residence Permit Program

Being at geopolitical crossroads, Cyprus enjoys a European political outlook and the lifestyle of a Mediterranean island – which along with its favorable tax regime makes the country one of the top relocation destinations in the world (2014, Knight & Frank lifestyle review).

Cyprus has been a member of the European Union since 2004, and a Eurozone Member since 2008. Besides the inherent benefits of EU Membership, the country enjoys high quality healthcare and education, as well as, a stable political climate. Permanent Residence under this program grants the right to travel within the EU and it is considered to be the first step towards gaining Cyprus Citizenship. In this respect, the Cypriot authorities have recently simplified the procedure for issuing Permanent Residence Permits to Non-EU nationals.

Advantages:

  • Highly efficient application procedure within two months
  • High approval rate
  • Enjoy high-quality private schools and modern education
  • Family reunification
  • Visit one time for biometric capturing while application
  • No worldwide dividends, interest and income tax as well as no tax on gains and inheritance tax
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More Benefits

Fast-track Permanent Residency Program

Fast-track Permanent Residence Program

Processing of application within 2 months

Residency program with no donation

Residency program with no donation

Property purchase with no government contributions

Permanent Residency for entire family

Permanent Residence for entire family

Main applicant, spouse, dependent children up to 25 years, parents and parents in law

Only one visit to Cyprus is required

Only one visit to Cyprus is required

Applicants must visit Cyprus once for biometric submission.

 
Simple residency requirements

Simple residency requirements

It is not necessary to reside in Cyprus but PR holders must not be absent for more than 2 years

Favourable tax regime

Favourable tax regime

No worldwide dividends, interest and income tax. No tax on gains. No inheritance tax

Only first-time sale properties

Only first-time sale properties

Suitable apartments, villas and houses qualifying for the program

Regular rental income

Regular rental income

Safe and highly profitable investments, with potential profit from letting your property

 
Secure environment

Secure environment

“Insurance policy” in case of economic or political stability

Highly efficient process

Highly efficient process

The application can be processed in the applicant’s absence and filed on their behalf

Eligibility for citizenship

Eligibility for citizenship

Cyprus PR holders may apply for citizenship in 5 years if all the conditions have been met

Life in the Mediterranean

Life in the Mediterranean

Mild climate, beautiful scenery and beaches, with 320 days a year of sunshine

Country Overview

Cyprus

Cyprus

Capital city

Capital city: Nicosia

Visa free countries

Visa free countries: 173

Total area

Total area: 9,251 km²

Nearest country

Nearest country: Turkey

Languages

Languages: Greek, English

Currency

Currency: Euro €

Population

Population: 1.2 million (2016)

Time zone

Time zone: Eastern European (UTC+02:00)

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Step 1
Registration

Registration

Click on the "Apply Now" or “Chat Now” button and leave a brief description of your needs.

Step 2
Consultant

Consultant

One of our experts will get back to you shortly to discuss your needs and offer reasonable options for your budget.

Step 3
First Payment

First Payment

After you agree with our plan, you will have to make a deposit payment.

Step 4
Submit Docs

Submit Docs

We will assist you in filling out the necessary forms for the government registration process. You only need to provide the requested personal information.

Step 5
Get approval

Get approval

We will work with the government on your behalf. We guarantee you the earliest approval time.

Step 6
Government Payment and Last Payment

Government Payment & Last Payment

You will pay the prescribed government fee depending on the citizenship / residency method you choose. You will pay the remaining service fee to us. Get your certificate and permanent residence permit.

Ways To Get Permanent Residence

Applicants must fulfill ALL of the following criteria:

Property

Property

Purchase of new immovable property of a total market value of at least €300,000 plus VAT, and submit the application form accompanied with a contract of sale which must have been submitted to the Cyprus Department of Land and Surveys, and proof of payment of at least €200,000 plus VAT. The property can also be bought by a company which is registered in the name of the applicant or the applicant & their spouse. They must also be sole shareholders.

Bank deposit

Bank deposit

Submit a confirmation letter from a Cyprus bank that you have deposited a minimum capital of €30,000 from abroad into an account that will be locked for three years. After the expiration of this period, the money will be released without restrictions.

Proof of Income

Proof of Income

Provide supporting evidence of a secured annual income of at least €30,000 deriving from abroad. This income must increase by €5,000 for the spouse + every additional child and €8,000 for each dependent parent. The income may include, i.e., salaries from employment, rents, pensions, and dividends from shares.

*For more details on schedule of fees, when to pay, how much to pay, please download our Cyprus Permanent Residence Permit Program Kits.

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Requirements

  • Applicants should have no intention to undertake any employment in Cyprus. They can own a business registered in Cyprus and receive dividends from this business.
  • Applicants must have a clean criminal record and should not be in the list of persons whose property is frozen by the EU as a result of sanctions.
  • Applicants must visit Cyprus within 1 year of the date of the PRP to provide biometrics for issuance of PR card. All family members are required to visit Cyprus once every two years.
  • PR holders may have their PRP revoked if they are granted permanent residence in another country.
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Frequently asked questions (FAQ)

1. Why do investors want to obtain permanent residence in Cyprus?

Cyprus is a member of the European Union and strategically located between Europe, Asia and Africa. The living standard is high, crime rate is low and the island enjoys around 300 days of sunshine each year. A permanent residence holder can obtain easily visa to visit other EU countries. Moreover, after 5 years of having obtained the PR, the investor can under certain conditions apply for citizenship.

2. What type of investments qualify someone to apply for the PR?

The investment can only be on real estate. The investor can buy a residence or 2 residences or 1 residence and 1 office or 1 residence and 1 shop. The purchase price must be a minimum of 300.000 Euros.

3. Can I buy an empty plot of land without a residence?

No. Buying land does not allow the investor to apply for PR under the provisions of this category.

4. Can my spouse and children obtain the PR as well?

The spouse of the applicant and underage children can also obtain the PR. Adult children until the age of 25 can also apply for the PR if they are financially dependent on the applicant.

5. Are there any other requirements in order to obtain the PR?

The applicant for the PR, besides having to prove that he has indeed purchased real estate worth a minimum of 300.000 Euros must also provide documentation demonstrating the following:

a) Clean criminal record for the applicant and his/her spouse.

b) Secured annual income coming from abroad to Cyprus. This should be a minimum of 30.000 Euros for the applicant and an additional 5.000 for every dependent of the applicant.

c) A 3 year fixed term deposit with a Cypriot bank for a minimum of 30.000 Euros.

d) Health Insurance Policy for the applicant and his dependents.

e) Official statement that the applicant does not intend to work in Cyprus.

6. How long will it take until I obtain the PR?

Around 2 months from the date the application and attached documentation has been submitted to the Migration authorities.

GIS Club

There are four rank levels of Global Immigration Services membership. Advance through three elite ranks when you meet qualifying criteria. Enjoy elevated rewards and experiences throughout your journey. Explore the benefits for all levels. Earn and redeem credit points for our services.

Earning points

Earn Credit Points on qualifying purchasing of services. You’ll earn credit Points for every eligible U.S. dollar spent.

Using points

Spend credit points directly for your invoice. 100 credit points = US$ 1.

Insights

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About Us

Global Immigration Services Group (GIS) is an Immigration Services Provider focusing on Second Citizenship by investment programs & Residency Programs.

We offer a variety of Second Passport options including but not limited to; Caribbean Citizenships such as Saint Kitts & Nevis, Grenada and Dominica. European Second Citizenship by investment programs inclusive of Cyprus and Malta. As well as other Residency Programs such as Portugal and Greece...

Our selection of established and well-respected Developers, excellent Government Relations and Caribbean Contacts makes us the obvious choice for all your Citizen & Residency needs.