``Fast-Track``

Cyprus Permanent Residency via the
“Fast-Track”

Procedure by investment

(Fast Track Permanent Residency under Regulation 6(2))

Obtaining Cyprus Residency Provides an Array of Benefits

Immigration Permit under Regulation 6 (2) grants a Non-EU national the right to permanently reside in Cyprus, with such permit applying for life, without any renewal requirements;

Permanent Residency Permit can be extended to the whole family: the applicant’s spouse, their children and their parents;

Fast track application procedure – all submitted applications can be reviewed and approved within 3 months from the date of submission;

Obtaining the Cyprus Permanent Residency Permit (PRP) provides the opportunity to obtain the Cyprus citizenship after completing 5 years (total of 1825 days) of legal stay in Cyprus;

Cyprus is an ideal location for international business: it has a favourable corporate tax structure, a comprehensive double tax treaty network, stable economy, high level professional services industry with a highly trained professional labour force, English language widely spoken from the vast majority of professionals in Cyprus;

High quality of living with guaranteed sunshine: low cost of living, top 5 safest country in the world (Value Penguin 2015), high quality of healthcare, 320 days of sunshine per year;

PRP holders might be eligible to apply for becoming Cyprus tax residents with the advantage of being exempt from taxation of dividends and interest earned for a period of 17 years after becoming Cyprus tax resident, as well as exempt from tax on profit arising from the sale of securities that include shares, bonds, debentures and others;

No Inheritance Tax.
Create. Submit. Enjoy.

Procedure and Processing Time

Legal, secure and durable
The Permanent Residency application and legal documents must be prepared and submitted to the Civil Registry and Migration Department. The applications are reviewed and grants final approval within 3 months from the date of filing.
Received
The Cyprus Permanent Residency Permit (PRP) can be received within 3 months of the submission of the application, if all necessary investment criteria have been met, as per below.

Types of Investment in order to obtain the Cyprus Permanent Residency

The applicant must make an investment of at least €300,000 in one of the following investment categories:

(A) Investment in a house / apartment
Purchase of a house or apartment for at least €300,000 (plus VAT). This should not be a resale property.
(B) Investment in real estate (excluding houses / apartments)
Purchase of other types of real estate such as offices, shops, hotels or similar developments or a combination of these with a total value of €300,000. These properties can also be resold
(C) Investment in the share capital of a Cyprus Company with activities and personnel in Cyprus
Investment worth €300,000 in the share capital of a company registered and operating in the Republic of Cyprus, with proven physical presence in Cyprus and employing at least five (5) people.
(D) Investment in shares of Cyprus Investment Funds (AIFs, AIFLNPs, RAIFs)
Investment worth €300,000 in units of Cyprus Investment Funds.

Any disposal by the permit holder of their investment without the immediate replacement with another investment that would qualify under the aforementioned criteria and of the same or greater value will lead to the cancellation of the permit.

(for points A and B above)

Notes about Investment in a property in Cyprus for €300,000

The sales agreement must be registered with the Land Registry with an initial payment of €200,000 plus VAT. Such payment must be made to the bank account of the seller in Cyprus, with the funds transferred from overseas account of the applicant.
The presence of the applicant is not mandatory at the time of the purchase, and can be facilitated by his/her legal representatives. The delivery date of the property is not relevant, and therefore residential properties under construction at the time of application can be included.
If the applicant wishes to sell the residential property, he/she must replace it with another that has equal or higher value.
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Annual Income

The applicant must provide evidence of annual income of at least €30,000 originating from abroad (increased by €5,000 for each dependent included in the application, and €8,000 for each parent or parent-in-law).

This income may come from salaries or wages, pensions, dividends, fixed deposits, rents, etc. coming from abroad (if qualifying under point (A) above – namely, investment in a house / apartment). In calculating the total income, the income of the applicant’s spouse can also be taken into consideration.

In cases where the applicant qualifies under one of the other options, his total income or part of it may also be derived from sources coming from activities within the Republic.