Cyprus Golden Visa
Cyprus Golden Visa
The Cyprus Golden Visa offers permanent residency through investment in the Republic of Cyprus. Here are the key points to understand:
Program Overview: The Cyprus Golden Visa provides permanent residence by investment, distinct from the citizenship by investment program. After five years, Golden Visa holders can apply for Cyprus citizenship. It doesn't grant Cypriot citizenship or a passport.
Eligibility and Criteria: Applicants, spouses, and underage children can stay permanently. Investment, income, and clear criminal record criteria must be met. Annual verification of criteria is required by the Civil Registry and Migration Department.
Minimum Investment: Invest at least EUR 300,000 in Cyprus. Options include new residential property, shares in a Cyprus company with ≥5 employees, or units in investment funds.
Income Requirement: Demonstrate an annual income of EUR 50,000 from abroad. For spouses, add EUR 15,000; for dependent children, add EUR 10,000 each.
Personal Requirements: Applicant and spouse must have a clear criminal record. Verification is necessary annually.
Right to Work: Limited work rights. Applicant and spouse can work as directors in their invested company or receive dividend income from Cyprus-registered companies.
Family Members: Spouse and underage children are eligible. Children aged 18-25 can be covered if they're students at a Cyprus tertiary institution, unmarried, and meet income criteria.
Process and Fees: Application reviewed by the Minister of the Interior. Process takes around two months. Government fee is EUR 500, plus EUR 70 for each family member mentioned.
Tax Benefits: Cyprus offers low personal and company tax rates (12.5%). No tax on income from dividends, interest, inheritance, gift, wealth, or immovable property. Capital gains exceptions apply.
Investment Opportunities: Investment options include real estate and business. Real estate investments show positive trends. Cyprus economy's outlook is robust with growth and resilience.
Important Note: The program offers permanent residency by investment, not citizenship. Citizenship by investment program ("golden passport") ended in 2020.
How We Can Help: Our team provides expert advice and assistance throughout the application process to maximize your success. Please note that this is a concise summary. For complete and detailed information, consult official sources or seek advice from professionals.