Cyprus residency by investment in 2023

Cyprus residency by investment in 2023

 Cyprus Residency by Investment: Program Overview The Cyprus Residency by Investment program offers applicants and their families an opportunity to obtain an unlimited duration Cyprus immigration permit within two months. After five years of residency, investors can apply for Cyprus citizenship. Here are the key details of the program: Program Highlights:
  • Successful applicants and their families gain an unlimited duration Cyprus immigration permit within two months.
  • Citizenship application can be pursued after five years of residency.
  • Updated requirements as of May 2, 2023, include an increased secured annual income, exclusion of certain relatives from acquiring residence, and more.

Investment Options:
  • Minimum investment of €300,000 required.
  • Choose from options like buying residential property, purchasing commercial properties, investing in Cyprus company shares, or units of Cyprus Investment Organizations.
  • Income of €50,000 annually required, with additional income criteria for spouse and children.

Benefits of Cyprus Residency by Investment:
  • Enjoy unrestricted entry and stay in Cyprus.
  • Healthcare coverage under the General Healthcare System.
  • Limited right to work except as directors of companies in which investment is made.
  • Opportunities for employment and business.

Residency Requirements:
  • Investment of at least €300,000 in real estate or securities.
  • Demonstrated annual income of €50,000, with additional income for spouse and children.
  • Varying income source criteria based on investment option.
  • Dependent persons, including spouse and children up to 18 years old, can be included.

Cyprus Citizenship:
  • Citizenship application possible after five years of actual stay within a seven-year period.
  • Mandatory stay of 1825 days during the five-year period.
  • Updated documents required annually to maintain residency.

Additional Information:
  • Visa-free travel to EU countries and the Schengen zone not automatically granted due to Cyprus not being part of the Schengen zone.
  • Applicants must visit Cyprus once every two years.
  • Employment restrictions apply, but unsalaried director roles are allowed.
  • Detailed application process and required documents provided by the Civil Registry and Migration Department.

Investing in Cyprus property through the Residency by Investment program offers a pathway to long-term residency and potential citizenship, with a range of investment options to suit different preferences. Expert guidance is crucial to navigate the program successfully.