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Cyprus Permanent Residency

Cyprus Permanent Residency

 Cyprus Permanent Residency by Investment Cyprus offers a Permanent Residency program for non-EU citizens and their dependents, providing them with the legal status to reside permanently in Cyprus without limitations. This residency does not expire and does not require renewal. It's often referred to as a Cyprus immigration permit or unlimited residency. The program is based on Regulations 5 and 6(2) of the Aliens and Immigration Regulations. Fast-Track Option for Permanent Residency by Investment: To obtain Permanent Residency through investment, the applicant must invest a minimum of €300,000 in real estate. This option covers the entire family and has no expiration date. After residing in Cyprus for five years, permanent residency holders can apply for Cyprus citizenship. Requirements:
  • The investment must be in a new house or apartment, registered with the Land Registry, and paid in full (€300,000 plus VAT).
  • Alternatively, the investment can be made in shares of a Cyprus company employing at least five people or in units of certain Cyprus Investment Funds.
  • The applicant must show an annual secured income of at least €50,000 from abroad, with additional income requirements for spouse and children.

Other Types of Permanent Residency in Cyprus:
  • Permanent Residency by 5 years of legal stay in Cyprus.
  • Permanent Residency for EU citizens after 5 years of continuous legal residence.
  • Permanent Residency by marriage to a Cypriot citizen.

Benefits:
  • Permanent residency does not expire.
  • It covers the applicant, spouse, and children under 18 years old.
  • Holders can apply for Cyprus citizenship after 5 years of residence.
  • PR by investment allows shareholders to receive dividends from a Cypriot company.
  • It provides access to the General Healthcare System and free healthcare.
  • Fast-track process takes about two months.

Obligations and Restrictions:
  • Holders cannot work in Cyprus, except for certain business-related activities.
  • The residency must be verified annually by submitting specific documents.
  • Holders must visit Cyprus at least once every two years.
  • Certain residency categories have age limitations for dependent children.
  • PR does not grant visa-free travel to other countries.

Application Process:
  • Prepare required documents, including passport copies, marriage and birth certificates, criminal record certificates, proof of income, property documents, bank statements, etc.
  • Submit the application through a lawyer at the Civil Registry and Migration Department in Nicosia.
  • PR cards are issued upon approval and can be collected by the lawyer.
  • Fast-track applications are typically processed in about two months.

Government Fees:
  • Fast-Track PR program cost: €300,000 (plus applicable taxes).
  • Additional fees for registration of applicants, spouses, and dependents.

Our Services: Our team can guide you through the entire application process, from property purchase to document preparation and submission. Contact us for a consultation and information about our services.
 

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