Residency Programs
Cyprus
FACT-SHEET
CYPRUS
LOCATION: Cyprus is a popular tourist, business, education and retirement destination.
TimeZone
GMT+2
Population
1,193,808
GDP
21.69 USD Billion
Currency
Euro
Religion
Christians:89.1% Roman Catholic:2.9% Protestant:2.0% Islam:1.8% Others:4.1%
BENEFITS
Investment:
€300,000 + Costs
Time to Residency:
2 – 3 months
Visa Free within Schengen Countries
Why CYPRUS?
- It is not necessary to reside in Cyprus, but a visit once every two years is required.
- No Inheritance taxes.
- High-standard educational institutions and healthcare facilities.
- Final approval of PR (on a fast-track basis) within 2 to 3 months from date of filing the application.
- 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.
REQUIREMENTS
- 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 a confirmation letter from a Cyprus bank that they have deposited a minimum capital of EUR 30,000 from abroad into an account that will be locked for three years.
- The applicant must provide supporting evidence of a secured annual income of at least EUR 30,000 deriving from abroad.
- Investment Option
- Permanent residency EURO 300,000 + Costs