|Nicosia||9,251 km²||1.17 million||Greek, English|
|CURRENCY:||EXCHANGE RATE:||GDP – PER CAPITA (2016):||GDP – TOTAL (2016):|
|Euro (EUR)||1 USD = 0.86 EUR||USD 23,324||USD 19.8 billion|
According to Cypriot law, a Non-European national who buys one or two properties (Residential) in Cyprus for himself and his family for a total value of €300.000 + VAT and more, he/she may apply for Cyprus Permanent Residency.
The Cyprus Permanent Residency Program is a fast track program whereby applications are processed within two months of filing.
Benefits of Cyprus Residency
Protected by the government citizenship law
Immediate access to 160+ countries without visa
Obtain irrevocable citizenship and passport
Take full control of your and your family’s wealth
Visa-Free Countries for Cyprus Residency
After obtaining Cyprus Citizenship you can travel to:
(Visa-free and visa-on-arrival countries)
Antigua and Barbuda
Bosnia and Herzegovina
Papua New Guinea
Saint Kitts and Nevis
Saint Vincent and the Grenadines
São Tomé and Príncipe
Trinidad and Tobago
United Arab Emirates
Steps of Cyprus Permanent Residency
SA Consultants will pre-screen your passport copy for government pre-approval. A down payment of the professional fees is required to open your application. The response is in 24-48 hours
We will provide assistance and advice with regards to the collection of the documents required in the checklist for the Cyprus Visa application. A Meeting is then set up with dedicated Attorneys in Cyprus so that a “Power of Attorney “mandate is signed in the presence of a certifying officer.
Savory and Partners will assist in the opening of a Cypriot bank account.
We will guide you to the Cypriot property that fully satisfies your requirements (€300,000) and start preparing the property purchase documentation required to be presented for the Permanent Residency application. An initial payment of at least €200,000 must be made
Once the sale agreement for the purchase of your property is signed and all other relevant documents gathered, the Permanent Residency application will be filed with the Migration Department. Approval can be expected within two months, and Permanent Residency is granted provided all requirements have been met.
Once the Permanent Residency Permit has been granted, the applicant must visit Cyprus within one year to obtain the actual permit and passport stamps. The remaining 50% SA Consultants fees are paid.
Costs of Cyprus Permanent Residency
Applicants must prove that they have made the following investments
1) Purchase or ownership of a residence
2) A Bank deposit in a Cypriot Bank, pledged for 3 years
3) Proof of income
The applicant should prove at least €30,000 income for himself and plus €5,000 for each dependent on:
- An applicant may purchase up to 2 residential units (apartments or houses), or 1 residential unit and 1 shop with an area of up to 100m² or 1 residential unit and an office with an area of up to 250m²
- Residences or apartments may be independent of each other but both must be sold by the same company
- • The property must be new (not a resale)
- All investment funds must be proved to have emanated from abroad.
- A Declaration is signed by the applicant/spouse that there is no intention to be employed in Cyprus. The applicant and/or his wife could be shareholders and directors in a company registered in Cyprus.
- All applicants must visit Cyprus at least once every 2 years.
- All applicants must have a clean criminal record.
- Unmarried children between the ages of 18 and 25, provided they are students and financially dependent on the applicant, can submit their own application to obtain the Permanent Residency Permit on the basis of the main applicant’s investment