Overview : Cyprus
Cyprus government introduced the Permanent Residence (PR) program to provide non-EU citizens with the ability to obtain, through investment in Cyprus, permanent residence status that is valid for life and can be passed on to their dependents. Cyprus provides you a good business friendly environment and high in advanced infrastructure, combined with a high quality of life, allows investors and their families to enjoy the best of both worlds.
Minimum Investment
300,000 EUR
Visa free countries
188 countries
Global passport rank
13
Required Residency
Must stay 7 days per year
Taxation
Subject to the tax law of Cyprus
Processing time
6 – 8 months
Cyprus Permanent Residency Program
Cyprus offers a Permanent Residency Program that provides a great chance for investors and business professionals to secure long-term residency in Europe. Through this program, you gain access to live in Cyprus with the added benefit of traveling freely across EU member countries. Residency in Cyprus allows you and your family to enjoy the lifestyle, work opportunities, and educational advantages the country has to offer, all while maintaining a strategic connection to Europe.
Who can apply Cyprus immigration ?
The investor must be over 18 years old, have no criminal record, and be in good health. Applicants must not be on any international sanctions list or involved in activities that could pose a threat to public order or national security in Cyprus or the European Union. They must also have a legal annual income.
Comprehensive Guide to Cyprus Residency programs
The Cyprus Residency Program was established to attract foreign investment and skilled individuals, offering a strategic pathway to residency in the European Union. This program aims to boost the country’s economy while providing investors and their families the opportunity to reside in a stable and prosperous European nation. Eligible applicants can obtain residency by making a qualifying investment in real estate, business ventures, or financial assets. Successful applicants gain the right to live, work, and study in Cyprus, along with visa-free travel to several countries within the European Union.
Who is eligible for Cyprus citizenship ? Can I include my entire family in the application ?
Purchase of Residential Property
Purchasing residential property in Cyprus is an attractive option for both local and foreign buyers due to the country’s favorable tax policies, strategic location within the EU, and high quality of life. To qualify for the Cyprus Permanent Residency Program, the minimum investment in residential property must be at least €300,000. This property can be either new or a resale.
VAT Percentage (%)
Standard Rate: The standard VAT rate for new residential properties is 19%.
Reduced Rate: A reduced VAT rate of 5% applies to the first 200 square meters of a new residential property for first-time buyers purchasing their primary residence. This reduced rate can also apply to properties purchased by certain groups, such as families with dependent children or individuals with disabilities.
The sale of second-hand (resale) residential properties is exempt from VAT, meaning buyers do not pay VAT on the purchase of these properties. However, property transfer fees are applicable. click here for the full fees structure
Program Benefits
Permanent Residency: Purchasing a residential property worth at least €300,000 makes investors eligible for Cyprus’s Permanent Residency Program, offering a clear and straightforward pathway to obtaining residency in the European Union.
Access to the EU Market: As a resident of Cyprus, investors gain access to the European Union market, enjoying the benefits of living in an EU member state.
Visa-Free Travel: Permanent residents can enjoy visa-free travel, facilitating easy movement for both business and leisure across numerous European countries.
Favorable Tax System: Cyprus offers an attractive tax regime, with no inheritance tax, low property transfer fees, and a 12.5% corporate tax rate, one of the lowest in Europe.
Education and Healthcare: Residents of Cyprus can access high-quality education (including international schools and universities) and enjoy a well-developed healthcare system.
Citizenship by Naturalization: After a period of continuous residency, property owners may become eligible for Cypriot citizenship, offering full EU citizenship benefits.
Full fee structures for dependents and additional fees.
Purchase of commercial properties
An investor can buy offices, hotels, or shops for a minimum of € 300,000, whether new or resale. If purchasing multiple properties, the total investment must meet the € 300,000 requirement.
Program Benefits
Income Generation: Offices, hotels, and shops provide consistent income through rentals. Offices can be leased to businesses, hotels generate revenue through bookings, and shops can be rented out to retail businesses, ensuring steady cash flow.
Eligibility for Permanent Residency: Investing €300,000 or more in commercial properties (offices, hotels, or shops) qualifies the investor and their family for Cyprus Permanent Residency, providing access to live and work in Cyprus.
High Rental Yields: Commercial properties such as offices, hotels, and retail spaces often yield higher rental returns than residential properties, particularly in key business and tourist areas like Limassol and Nicosia.
Strategic Location: Cyprus’s location at the crossroads of Europe, Asia, and Africa makes it an attractive hub for international businesses and tourists, ensuring high demand for office, hotel, and retail properties.
Invest in Cyprus Securites
An investor can allocate €300,000 towards collective investment units within the Cyprus Investment Funds sector, with various options available such as Alternative Investment Funds (AIF), Limited Investor Funds (AIFLNP), or Registered Alternative Investment Funds (RAIF). These funds offer opportunities for diversified investment while fulfilling the minimum threshold for residency eligibility.
Investing in shares of Cypriot companies
To qualify for Cyprus investment residency through business investment, investors are typically required to create at least 5 full-time jobs for Cypriot or European Union citizens. This job creation requirement applies if the investor is establishing or investing in a company in Cyprus.
Frequently asking questions
North Immigration is a trusted authorized agent specializing in assisting individuals to secure immigration and residency through investment program. With a proven track record of successfully guiding thousands of clients through the process, North Immigration offers a streamlined and efficient path to obtaining immigration and residency.
How North Immigration Can Help You: North Immigration provides expert advice and support throughout the entire application process, ensuring that all requirements are met and deadlines are adhered to.
Personalized Service: Each client receives individualized attention, tailored to their specific needs and circumstances.
Efficient Processing: North Immigration leverages its extensive experience and network to expedite the citizenship application process.
Legal Compliance: The firm is committed to adhering to all legal regulations and standards, ensuring a transparent and secure process.
Choosing North Immigration: When selecting an agent to assist you with your immigration application, it is crucial to choose a reputable and experienced firm. North Immigration has established itself as a leader in the field, providing exceptional service and a high success rate.
Contact North Immigration Today… To learn more about how North Immigration can help you achieve your goals of obtaining immigration and residency through investment, please contact us today.