Cyprus Golden Visa Program
2 - 3 months
€300,000
Real Estate
Cyprus Golden Visa Program
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.
Which Family Members Can Be Added in the Same Cyprus Golden Visa Application?
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Spouse
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Dependent children under the age of 18
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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
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Dependent parents and parents in law
Cyprus Overview
Known as the “Jewel of the Mediterranean”, Cyprus is known for its welcoming residents, idyllic weather, sunny beaches, and stunning scenery.
Language
Greek & Turkish
Currency
Euro
Total Area
9,251 km2
Capital
Nicosia
Government
Presidential Republic
Population
1,207,359Cyprus Golden Visa Benefits
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One of the advantages of obtaining residency in Cyprus is the ease of obtaining a Schengen visa.
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Investors and their dependents can live, work, and study in Cyprus
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Investors are not required to permanently reside in the country
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Permanent residency processing is very fast, taking only two months.
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Taxation is low, and Cyprus has international double taxation agreements.
Cyprus Real Estate Investment
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.
Cyprus Golden Visa Cost
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
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Applicants must be 18 years of age or older
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Investors must be a third-country national – not an EU/EFTA citizen
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Applicants must have no criminal record and must not have had property frozen by the EU as a result of sanctions
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Applicants must have a have an annual income of at least €30,000 (plus €5,000 per dependent) from outside of Cyprus
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Investors must be in possession of adequate health insurance
Cyprus Citizenship and Passport
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.
Cyprus Visa-free Countries
Over the past several years, the government of Cyprus has been successfully working on expanding its list of Visa-free countries.
FAQs About Cyprus Golden Visa
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