CHANGES ON PERMANENT RESIDENCY UNDER REGULATION 6.2
(FAST TRACK PROCEDURE)
As per the latest changes in 6.2 regulation, which was published on 24/03/2021 G. KOUZALIS LLC advices that an Investor who wishes to apply for a Cyprus permanent residency under the fast track scheme has more options than the purchase of properties as they used to be, under previous Cyprus regulations.
The Investors now have the options to invest in properties other than residential, in companies and in the Cyprus Investment Association of Collective Investments.
For investments other than residential, the Investor can use funds which arise from sources in the Republic of Cyprus.
A vital change is that the pledge of €30,000 in a Cyprus banking institution is no longer required.
The estimated time of examination is 2 months from the submission of application date.