Cyprus is one of the most tax-efficient jurisidictions within the EU, uses English widely as the official second language, is safe, modern and strategically postioned. It is set to join the Schengen zone in the EU in the forseable future and this will furhter increase the demand for Cypriot PRP.
The Ministry of Interior of Cyprus offers an efficient route to obtain the Cyprus Permanent Residence namely, the Fast Track Route, which we outline below in further details. This is not to be confused with the Standard Route (Category F) that is also available.
Visitor Visa to Enter Cyprus (5 to 10 Days)
The investor may chose to visit Cyprus to undertake a real estate property viewing and meet with local agents although their physical presence is not mandatory.
Documented Evidence (4 to 6 Weeks)
The investor must provide all pertinent documentation to apply for the Golden Visa including:
1. Clear Criminal Record from their home country and other jurisdictions they have resided in during the past 10 years (minimum);
2. Proof of secured source of funds of EUR 30,000 per annum minimum;
3. Contract of real estate purchase(s) in total valued at EUR 300,000 for an individual (and his/her spouse);
4. A three-year fixed deposit of EUR 30,000 in a Cyprus bank account, with funds sourced from abroad;
5. Documents from the country of origin of the investor’s family dependents, these can be a spouse, unmarried dependent children of either spouse under the age of 21 or parents/grandparents of the investor or his/her spouse.
Application Review (2 Months)
The investor will need to submit biometric data;
The application review will take up to 2 months after which the competent authorities will announce their decision and issue the Golden Visa valid for so long as investor visits within a 2 year period.
To find out more about the Cyprus Golden Visa fees and disbursements please click the button below.
Do get in touch to book a Free 60 Mins Discovery call to discuss the best option suited to you/your client’s needs.