CYPRUS RESIDENCY BY INVESTMENT

Regulation 6(2) of the Aliens and Immigration Regulations has been simplified by the Ministry of Interior in order to issue Residence Permits to applicants from non-European countries, provided that the following requirements are met:

The main requirement is the purchase of new immovable property of a total market value of at least EUR 300,000 plus VAT. The applicant must submit the application form accompanied with a contract of sale and proof of payment of at least EUR 200,000 plus VAT. The contract of sale must have been submitted to the Cyprus Department of Land and Surveys. The property can also be bought by a company provided that the company is registered in the name of the applicant or the applicant and spouse, and they are sole shareholders;

The applicant must submit a confirmation letter from a Cyprus bank that they have deposited a minimum capital of EUR 30,000 from abroad into an account which will be locked for three years. After the expiration of this period, the money will be released without restrictions.

The applicant must provide supporting evidence of a secured annual income of at least EUR 30,000 deriving from abroad. This income must increase by EUR 5,000 for every additional child, and EUR 8,000 for each dependent parent. This income may include salaries from employment, rents, pensions, and dividends from shares, etc.

BENEFITS OF THE CYPRUS RESIDENCE:

Fast track application procedure, within two months;

High approval rate if all criteria is satisfied;

It is not necessary to reside in Cyprus but a visit once every two years is required;

Dependents can be enrolled in high quality private schools, offering English language courses;

Residence applies to the whole family (applicant, spouse and children under 18 years old);

Dependent children between 18-25 and parents of the applicant are also eligible;

The whole process can be arranged without being present in the country, however, a visit is required for biometric capturing;

The PR holder and family have a ‘second home’ in Cyprus;

PR permit holders are free to enter and live in Cyprus without the need to obtain a visa.


OBTAIN IN 2-3 MONTHS


LOW INVESTMENT


VALID FOR LIFE


GRANTED TO ALL FAMILY MEMBERS

REQUIRED DOCUMENTS

Our great experience and our large portfolio of properties suit the CBI program perfectly making it easy to obtain residency.

DOCUMENTS FOR CYPRUS RESIDENCY:

  • Copy of valid passport of the applicant and his dependants;
  • Curriculum Vitae;
  • Original Letter from a financial institution in Cyprus (Bank, Coop) of a deposit of €30.000, pledged for three years;
  • Declaration of a secured annual income from abroad of €30.000 at least, (original documents and affidavit or declaration);
  • Title of ownership or contract of sale of a built property in Cyprus of a minimum market value of €300.000 (original or true copy). If the title of ownership has not been obtained yet, the applicant must submit the contract of sale duly stamped by the Stamps Commissioner and the Department of Lands & Surveys and proof of payment for at least €200.000;
  • The amounts paid for the property must be proven to have been transferred to Cyprus from abroad;
  • Official Statements by the applicant and his/her spouse that they do not intent to undertake any sort of employment in Cyprus;
  • Health Insurance Policy for the applicant and his/her dependants;
  • Original Criminal Record Certificate duly certified for the applicant and his/her spouse (if the applicant resides abroad, the certificate must be issued from his/her country of residence, and submitted with an official and certified translation);
  • Marriage Certificate duly certified (official and certified translation);
  • Children’s Birth Certificates dully certified (official and certified translation);
  • Other documents which are submitted with the application.

DOCUMENTS FOR CBI PROGRAM:

  • Copy of passport of the applicant and the spouse;
  • Birth Certificates of both spouses;
  • Police report (Criminal records) – not older than 3 (three) months old – of both spouses;
  • Marriage Certificate;
  • CV of both spouses;
  • Diplomas of both spouses where they studied;
  • Signed Contract of Sale of Property (duly stamped at the tax department and lodged with the Land Registry Office);
  • Receipt that applicant has paid the entire amount;
  • Documents proving that the money for the purchase of property or purchase of land and construction of the house were transferred from abroad;
  • Bank account of applicant in Cyprus (statement);
  • 2 (two) passport photos of both spouses;

NOTE: The Ministry Of Interior has the right to demand the submission of further documentation

CBI PROGRAM
STEPS AND TIMELINE

The table below breaks down the application process into eight basic steps. Some require the applicant’s involvement, while others are executed by authorised person that must be appointed by a main applicant . Each step must be completed before continuing to the next.

PHASE I

Residency

STEP 1

All necessary documents must be prepared by the applicant and be properly legalised.

STEP 2

Applicant selects an investment option.

STEP 3

All necessary actions are taken for implementing the chosen investment option.

STEP 4

Simultaneous applications for residency and citizenship.

STEP 5 (MONTH 3)

Residency cards issued to main applicant and spouse.

PHASE II

Citizenship

STEP 6

Issuance of Citizenship Approval.

STEP 7

Issuance of Naturalization Certificates of the main applicant and spouse included in the application.

STEP 8 (MONTH 6)

The approval of the citizenship application will be given in 3 months from the date of application. The issuance of the passport will be made within an additional 3 months.