CYPRUS PERMANENT
RESIDENCE BY INVESTMENT

Government program. Investment from €300,000. Residency for the whole family

Advantages of Cyprus residency

  • Fast processing - the residency is issued in just 2 months

  • Residency is issued for a lifetime. All family members can obtain residency as well (children, parents and in-laws)

  • No requirement to reside in the country

  • Lowest income tax in Europe - 12.5%

  • Opportunity to own a business in Cyprus (receive dividends)

  • Possibility to obtain Cyprus citizenship in 7 years

Terms and requirements for obtaining the residency

Normally, the process takes from 3 to 5 months. Investors must meet the following criteria:

  • Absence of sanctions, restrictions or bans on entry to EU countries and the UK

  • Absence of a criminal record and criminal proceedings for serious crimes

  • Ability to confirm the legality of the source of income

  • Impeccable personal and business reputation

Permanent residency of Cyprus can also be obtained by:

  • A spouse

  • Unmarried and dependent children under 25

  • Children, regardless of age, having a mental or physical disability

  • Parents of the main applicant or spouse

Book

Want to learn more details about the program?

Download our presentation

We’ll cover the following information:

  • Cost calculation, covering ALL expenses
  • Step-by-step guide on application procedure
  • Conditions and requirements to applicants
  • Full list of required documents
  • Answers to 16 frequently asked questions about the program
  • Country information
  • Comparison with other programs
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Complex investment for obtaining Cyprus residency

Investment in real estate

€ 300,000 – a minimum investment in real estate

Examples of calculations:
For 1 applicant - € 335,500
For a family of four - € 336,000

Cost callation for property purchase option

€ 30,000 – a bank deposit for three years

Examples of calculations:
For 1 applicant - € 30,000
For a family of 4 - € 30,000

Calculate the cost

The total cost of obtaining residency depends on the investment option, number and age of applicants, as well as the selected package of services. Fill out the form and within 10 minutes you will receive an individual cost calculation + comparison with other programs.

Cost

Get an individual consultation of a Cyprus residency expert

Our expert who has worked with more than 280 cases in Europe will consult you. He’ll describe all the peculiarities of the Cyprus residency program, its advantages and disadvantages, and tell you about similar cases from his practice.

Marek Zmyslowski

Partner, expert in the Caribbean

and European citizenship programs

Fill in the form

Our specialist in Cyprus residency program will contact you to discuss all the details

Stages of Cyprus residency application process

The following steps are described for reference purpose only. The main thing that we want to underline is that Migronis takes care of the preparation and submission of your case. You only need to provide the original documents. We will do all the paperwork ourselves.

01
CONTRACT SIGNING

Free preliminary background check (due diligence) of an applicant (1 day) and contract signing in one of our offices or remotely. At this stage, it will be sufficient to provide the passport copies of all family members who will be included in the residency application.

02
PREPARATION OF DOCUMENTS

We receive Police Certificates, fill out government forms, arrange notarization, translation and apostilization of all the necessary documents, and send the package to our lawyer in Cyprus. You will only have to affix your signature before we send the documents.

03
REVIEWING THE CASE

At this stage, we submit the documents to the Civil Registry and Migration Department. A visit to Cyprus is not required.

04
OBTAINING THE RESIDENCE CARD

After the Civil Registry and Migration Department approves your application, the residency cards are issued.

 

We share our experience making it easier for you to decide.

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FAQ and Information About Cyprus permanent residency

Who can obtain residency together with an investor?

A spouse;
Children under 18 years of age who are not married and who are fully supported by the main applicant;
Children from 18 to 25 years old, unmarried, in full time attendance at a recognized institution of higher learning, and fully financed by the main applicant;
Children who have a mental or physical disability, regardless of age;
Parents or grandparents of the main applicant and/or spouse;
Former spouse cannot obtain citizenship.

Can children from previous marriages be added in the application?

Children from previous marriages can added in the application.

How is the financial dependence of children and parents on the main applicant confirmed?

Financial dependence is confirmed by an extract on the transfer of funds from the account of parents to the account of their children, a certificate of full-time learning, the general registration address.

Does Cyprus permanent residency have an expiration date?

No, Cyprus permanent residency by investment is issued for a lifetime.

Is it possible to obtain Cyprus citizenship afterwards?

Yes, it’s possible to apply for Cyprus citizenship in 7 years after becoming a resident.

Do I need to visit the country to obtain residency?

Yes, you need visit Cyprus to obtain your resident cards and then once every 2 years.

Do I need to reside in the country, know the language to maintain permanent residence?

There are no residency requirements, however, you need to visit the country once every 2 years. You do not need to know the language, there is no language exam.

Do I need to submit my biometric data during to obtain Cyprus residency and to renew it?

Yes, you need to submit your biometric data

How to submit the documents if our office is not in the client's city?

All documents are sent by mail.

Do I need to pay extra fees to renew my residency?

No, you don’t as you don’t need to renew your residency.

As an owner of Cyprus residency do I need a visa to enter the Schengen countries, the US and the UK?

Yes, Cyprus isn’t a part of the Schengen agreement. However, you can apply for a visa under a simplified scheme. You need a visa to enter the US and the UK.

How can the main applicant and/or dependants apply for a work permit?

The main applicant and/or dependants can apply for a work permit by submitting an application for a ‘single work permit’ through the normal channels. We can help with this.

Which documents confirming the origin of funds are required?

Confirmation of employment and/or ownership of business is required. The following documents may be requested:
- certificate of salary, dividends received;
- certificate from the tax authorities;
- documents on the sale of real estate or other assets;
- an extract from the brokerage account on the sale of securities or income received;
- sale or gift contract;
- other documents confirming the acquisition of income.
One or several documents can be provided, the checklist is agreed when preparing the case.

How soon can Cyprus residency be issued from the day an application is submitted?

A Cyprus residency is issued within two months from the date the application is submitted.

How long must the amount of €30,000 deposited in a Cyprus Bank remain in place? Can it be deposited in any other currency?

The Regulations provide that the amount of €30,000 is fixed for three years. It is also possible for the amount to be in a currency other than Euro; provided the total value of the deposit is the equivalent of €30,000 at all times during the three year lock-in period. The interest rate applied to the fixed deposit depends on the terms of offer of each eligible bank. The beneficiary of the interest accrued is the depositor/applicant.

What happens in case of concealment of information or providing false data?

An applicant will either not pass the due diligence check, or will be deprived of his Cyprus residency in case it was obtained by providing false information, fraud or concealing true information, or in case he is found guilty under the laws of Cyprus.

In what cases can a refusal be issued?

provision of false information;
- involvement in terrorism, money laundering, crimes against humanity or crimes that violate human rights and freedoms, or admission of guilt in such crimes;
- availability of a criminal record or criminal proceedings for serious criminal offenses;
- posing a potential threat to public order, national security or the reputation of Cyprus.

Cyprus Information

GDP 2017 - $ 21.31 bln. (increased by 6.26% if compared to $ 20.06 bln. in 2016);
Population 2018 - 1,207,028 people;
The capital is Nicosia;
Sectors of the economy - tourism, industry, agriculture;
Doing Business 2017 ranking - 53rd out of 190 in the World Bank's ranking of ease of doing business;
According to The Financial Times, Cyprus is ranked 7th out of 12 among countries that offer citizenship by investment. Cyprus is ahead of Malta, Bulgaria, Austria and other European countries.

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