During the past year the Government of Cyprus has introduced a number of new regulations and incentives, with the intention of attracting non–EU residents to invest through various options including buying property. In return, investors acquire either a Permanent Residency or Citizenship/Passport.
Permanent Residence Permit
The Island of Cyprus (a member of the European Union since 2004) has managed to attract many foreign property buyers. Many non-EU residents have chosen Cyprus during the past year for investing in an overseas property and have also been issued a Permanent Residency or Citizenship, thus gaining access to Europe. The reasons that many non-EU residents chose Cyprus for a holiday home, business investment or a permanent/retirement home are many. The most important reasons seem to be the fact that Cyprus is a gateway to Europe, has an exceptional standard for education on all levels, but is also a beautiful holiday/retirement destination.
The main criteria required to apply for an Immigration Permit in Cyprus are:
- Acquisition of property of a minimum of €300.000
- Clean criminal record
Citizenship/Passport in Cyprus
The main criteria are:
- Direct investment of €5.000.000
- Or Combination of investment of €2.000.000 and a donation of €500.000 to a government fund
- Or business activities for three years in Cyprus that result to a total of €1.500.000 towards expenses (taxes, fees, V.A.T, services) all paid in Cyprus.
New Criteria for Major Collective Investments
The Council of Ministers shall have the right on special occasions, to reduce the above criteria to:
- €2,5 million for investors, who demonstrably participate in a special collective investment scheme, provided that the total value of the investment is at least €12,5 million.
In all of the above cases the applicant should also meet the following requirements:
Acquisition of property of a minimum of €500.000
Clean criminal record
Our team
Our Management Services Division offers high quality properties together with all necessary administrative services required by non-EU citizens who may be interested in obtaining citizenship or residency in Cyprus. We have strong relationships with all the major players including financial institutions, banks, real estate agents and legal advisers. Our expertise Our Management Services Division provides the following in its complete service package:
- Intermediary services for acquiring immovable property in Cyprus.
- Advising on the application process.
- Answering possible queries that may arise via our lawyer.
- Drafting of the required application documents.
- Submitting on your behalf the application to the Cypriot authorities.
- Monitoring the status of the application’s review by the Cypriot authorities.
- Acting as your liaison with the Cypriot authorities during the examination/review of the application.