- INVESTMENT REQUIREMENTS & FINANCIAL CRITERIA
- Investment in properties: Purchase of a new villa or apartment from a Development Company. Minimum amount to be invested is €300,000 + vat.
Or
- Purchase in other properties (not villas, not apartments): Such as purchase of offices, shops, hotels etc for the total amount of €300,000. The said properties can be resale properties as well.
Or
- Investment of the minimum amount of €300,000 in the capital of a Cypriot Company: Company must be active with staff in Cyprus.
Or
- Investment of the minimum amount of €300,000 in shares of the Cyprus Investment Association of Collective Investments.
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*The Investor should replace his investments in case he wants to sell and / or rent otherwise his residency permit will be cancelled.
*For the investment as mentioned in paragraphs b, c and d above, the Investor can use funds which arise from sources in the Republic of Cyprus. For the investment as mentioned in paragraph a above, the funds should be fresh money from abroad.
*For the investment as mentioned in paragraphs b, c and d above, the Investor must provide details as per his address in the Republic of Cyprus. (Title deed, sales agreement, rental agreement)
*The investment can be made through a Cyprus and / or European company in which the Investor and / or his wife are be the sole shareholders or ultimate beneficial owners.
DEPENDENT PERSONS:
- The residency permit will be issued in the name of applicant. Their Spouse and Minor children are included in the residency permit of the Investor. In case the spouse prefers a separate residency permit, then a separate application should be submitted and the relevant governmental fee should be paid.
- Unmarried children from 18 to 25 years old who are students abroad on the day of the Investor’s submission of application and who are financially dependent on the Investor can apply for a residency permit through a separate application. In case the children are students in Cyprus, they should apply for a temporary residency as students and at the end of their studies they can apply for their permanent residency. The permanent residency permit will be still valid after the 25th year of the child.
- Parents and In-Laws of the applicant can also apply through separate applications.
- Adult children who are not financially dependent can also apply provided that the total investment will be extra €300,000 for each. The investment can be done only by the Investor, or by the Investor and his adult financially dependent child.
The estimated time of examination is 2 months from the submission of application date.
The pledge of €30,000 in a Cyprus banking institution is no longer required