Facebook-f Instagram Linkedin
Get In Touch

CYPRUS

RESIDENCY BY INVESTMENT

OVERVIEW

Leverage PR Benefits in Cyprus by Making a Notable Investment

The Residency or PR program of Cyprus was launched in 2002 for foreign nationals. Against a significant and specific investment, one can obtain resident status in the country. It is an easy passage to Cyprus citizenship, for which one has to hold the PR status for 7 years or more. The processing time is only 3 months.

The residency status does not require renewal unlike other similar programs and is favored by investors and foreign businessmen owing to a simple process.

One of the crowning jewels of the Mediterranean’s, Cyprus is known for its pleasant ambience and turquoise waters lining the sun-soaked beaches. It is the third most populous and largest island country in the region. A traveler’s haven, Cyprus is also quite popular among foreign investors and entrepreneurs owing to a flexible tax infrastructure (very low property tax, no inheritance tax, etc.) and pro-business sentiment.

Processing time

3 months

Visa free travel

The Schengen zone, following which, the PR holders would be able to move freely and work across the EU nations.

Investment type

Real Estate Investment

Investment cost

€300,000

Family dependents

Residence applies to the main applicant’s spouse and children under 25 years.

Passport/Residency validity

Lifelong

About CYPRUS

One of the crowning jewels of the Mediterranean’s, Cyprus is known for its pleasant ambience and turquoise waters lining the sun-soaked beaches. It is the third most populous and largest island country in the region. A traveller’s haven, Cyprus is also quite popular among foreign investors and entrepreneurs owing to a flexible tax infrastructure (very low property tax, no inheritance tax, etc.) and pro-business sentiment.

Geographical Location

Eastern Mediterranean Sea

Total Area

9251 km2 or 3572 sq/mi

Population

1,189,265

Capital

Nicosia

Language

Greek

Government

Constitutional republic, Presidential system, Unitary State Government

Currency

Euro

Member

WTO, GATT & European Union

Cyprus PR Program

The Cypriot Residency extends to the family of the applicant as well, allowing them to stay and do business in Cyprus. They must visit the country every two years. Soon, the country will be joining the Schengen zone, following which, the PR holders would be able to move freely and work across the EU nations.   

Eligibility

  • Minimum age - 18 years of age
  • Holder of a valid non-EU passport
  • No criminal record
  • Furnish proof of annual income derived overseas (minimum €30,000 for self and €5000 extra for each dependent family).
  • Open a bank account in Cyprus (Regular - €30,000 minimum fixed deposit for 3 years, Fast track - €24,000 minimum non-fixed deposit)

Investment Type

Real Estate Investment – minimum €300,000

Residency Details

Processing Time – 3 months
Validity – Lifetime

For more information and immigration aid, book a consultation with Citizenship Xperts.

© 2024 Citizenship Xperts. All Rights Reserved.