Cyprus Golden Visa Program: Cyprus Residency by Investment

Residency & Golden Visa Program of Cyprus

Time to citizenship

4 - 6 months

Minimum Investment

€150,000

Type of investment

Real Estate with Donation and Government Contribution

Visa free Countries

Schengen countries

Overview of Cyprus

Known as the “Jewel of the Mediterranean”, Cyprus is known for its welcoming residents, idyllic weather, sunny beaches, and stunning scenery.
Language

Language

Greek & Turkish

Currency

Currency

Euro

Land

Total Area

9,251 km2

Capital

Capital

Nicosia

Government

Government

Presidential Republic

Population

Population (2022)

1,207,359

Residency & Golden Visa Program of Cyprus

The fast track Cyprus Permanent Residency Permit was launched in 2013 to attract foreign direct investment into the country. By investing in property on the island, foreign nationals can obtain Permanent Resident Permits (PRP) without the lengthy process required for normal immigration. Permits can be obtained in just two months, making this one of the fastest and simplest investor visa programs in Europe. Applicants are required to purchase a new-build property for a minimum value of €300,000 + VAT, which can be rented to provide income. Investors also need to deposit a minimum of €30,000 into a Cypriot bank, which will be held as a form of bond for three years. An additional €5,000 needs to be added to the deposit per dependent. Cyprus does not require investors to permanently live in the country, and the permit can be maintained by visiting at least once every two years. However, applicants that want to apply for citizenship will need to reside in Cyprus for at least seven years and will need to spend a full 365 days in the country before applying.
Family

Which Family Members Can Be Added in the Same Cyprus Golden Visa Application?

  • Spouse
  • Dependent children under the age of 18
  • Unmarried children between the ages of 18 and 25 that are financially dependent on the investor and have a minimum of six months remaining study
  • Dependent parents and parents in law

Residency & Golden Visa Benefits of Cyprus

  • Visa-free access to all Schengen countries
  • Investors are not required to permanently reside in the country
  • Taxation is low, and Cyprus has international double taxation agreements.
  • Investors and their dependents can live, work, and study in Cyprus
  • Permanent residency processing is very fast, taking only two months.

Real Estate Investment in Cyprus

The Cyprus residency-by-investment-program allows individuals and family dependents to secure permanent residency in Cyprus through real estate investment. Applicants are required to invest €300,000 into brand new real estate bought directly from the developer, which can either be lived in by the investor and his family or rented out. The investment can be split into a maximum of two properties, but the combined value should reach or exceed €300,000. The properties can be individually owned by the main applicant, jointly owned by the applicant and spouse, or owned by a company where the applicant and spouse are the beneficial owners.

Golden Visa Cost of Cyprus

Real Estate Investment

€300,000

Value-added Tax (VAT)

5% (for first purchased property used for personal use)
19% (for property not purchased for personal use)

Qualifying Investment

€30,000 (plus €5,000 per dependent)

Application fees

€500

How to Qualify for the Cyprus Golden Visa?

  • Applicants must be 18 years of age or older
  • Investors must be a third-country national – not an EU/EFTA citizen
  • Applicants must have no criminal record and must not have had property frozen by the EU as a result of sanctions
  • Applicants must have a have an annual income of at least €30,000 (plus €5,000 per dependent) from outside of Cyprus
  • Investors must be in possession of adequate health insurance

Citizenship and Passport of Cyprus

Citizens of Cyprus enjoy excellent advantages. The country enjoys the warmest weather in the Mediterranean part of the EU, and the locals are friendly and speak English. It has excellent infrastructure and a high standard of educational institutions and healthcare facilities. It also offers a favourable tax regime, and investors can benefit from a growing economy and excellent business opportunities. Permanent residency applicants can apply for citizenship after seven years on the condition that they reside in Cyprus and spend a full 365 days in the country before applying for citizenship.

Reach us to learn all about Cyprus Program, Application Details and Visa-Free Countries

Over the past several years, the government of Cyprus has been successfully working on expanding its list of Visa-free countries. For now, holders of a Cypriot passport have Visa-free access to 174 countries.

FAQ’s About Residency & Golden Visa Programs of Cyprus

Is Cyprus safe to visit?
Cyprus is considered to be very safe. However, travelers should observe general safety precautions.
How much does it cost to invest in Cyprus Citizenship?
Applicants are required to invest €2m into real estate in order to obtain Cyprus citizenship.
How can I get Cyprus citizenship?
Golden Visa holders can apply for citizenship after seven years on the condition that they reside in Cyprus and spend a full 365 days in the country before applying for citizenship.
Does Cyprus allow dual citizenship?
Cyprus does allow citizens to hold dual citizenship, so Golden Visa applicants are not required to give up their existing citizenship.
How do I get a Golden Visa for Cyprus?
To get a Golden Visa for Cyprus, applicants need to invest €300,000 into brand new real estate bought directly from the developer, which can either be lived in by the investor and his family or rented out. The investment can be split into a maximum of two properties, but the combined value should reach or exceed €300,000.

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