Residency By Investment Cyprus

Residency By Investment Cyprus

Description

Cyprus Residency by investment

 

QUICK FACTS
LOCATION Is located in the Mediterranean sea. To the south of Turkey, to the west of Syria and Lebanon, to the northwest of Israel, and to the southeast of Greek mainland.
POLITICAL STATUS a unitary presidential representative republic
CAPITAL Nicosia
POPULATION 1,170,125
SIZE 9,251 km2
LANGUAGE Greek – Turkish
CURRENCY Euro (EUR)
TIME (GMT+2)
DATE OF INDEPENDENCE 1 October 1960
GOVERNMENT TYPE Unitary presidential constitutional republic
LEGAL SYSTEM Cyprus law adopts precedents derived from the English Common Law for Stability and Finalism. The Republic of Cyprus is a democracy with a presidential system of government. The President is elected for a term of five years directly by the people in secret ballot with universal suffrage.

 

INTRODUCTION: 

The Republic of Cyprus is an independent island State, Nicosia is the capital. Cyprus has a long and ancient history where the island was inhabited more than 10,000 years ago in ancient times. It was one of the most powerful and rich countries in the Mediterranean, and the ideal location made it a very desirable piece of land for other countries.

Over the years, many countries fought for Cyprus to be their own including the Ottoman and British empires. However, in 1960 Cyprus finally gained its independence from Britain and became the Republic of Cyprus.

The country has beautiful sandy beaches that attract tourists from all over the world where the terrain on the island is mostly rocky. There are two mountain ranges on the island: the Kyrenia and the Trudos Mountains. The latter is particularly interesting with its highest peak being the legendary Olympus Mountain which reaches an impressive height of 1.951 meters.

 

Investment criteria:

Applicants can grant Cyprus permanent residency by chose one of the potential routes:

GOLDEN VISA CYPRUS

 

Application criteria

  1. Purchase a residential property of a total value of 300,000 Euro +VAT.
  2. Maintain a 3 year fixed deposit with a Cyprus Bank of a minimum 30,000 Euro with funds that have originated outside Cyprus.
  3. Provide proof of an annual income of 30,000 Euro minimum which has been originated from abroad, an additional 5,000 Euro for each dependant and 8,000 Euro for each parent included on the application.
  4. The main applicant and dependents must declare their intention of not been employed in Cyprus. Eligible dependents include the spouse, parents of the main applicant, and spouse’s parents as well as children up to the age of 27.

 

BENEFITS OF CYPRUS RESIDENCY PROGRAM: 

  1. Easy access to EU Schengen.
  2. Low tax rates and free trade within the EU, No inheritance tax , zero property tax and lower vat 5%.
  3.  Good living and a first class healthcare system.
  4. Excellent Educational.
  5. Safety, Cyprus is a peaceful and politically stable country.
  6. High quality living standards.
  7. Acquired property is freehold property.
  8. Full confidentiality in carrying out the procedures.
  9. Beautiful beaches, pleasant mild climate, rich culture and heritage
  10. Lowest crime rate in Europe.

 

Benefits of the program:

  1. Processing time 2 months
  2. No language requirements.
  3. Include the family in the application
  4. Suitable tax rates

 

THE MAIN STEPS TO GET CYPRUS RESIDENCY:

The process may be simplified into the following steps:

 

Step 1

Visit Cyprus as a first step, as NTL will arrange the offers for real estate investment, and meeting with a legal representative. 

Step 2

Buy the property after choosing the appropriate.

Step 3

Submission of Documentation after buying the real estate

 Step 4: 

Issuance of Permanent Residency.

Step 5

You are require to visit Cyprus with all family members once every two years 

STEP 6: 

Granting the Residency Permit and ID Cards

 

ECONOMIC RESIDENCY:

  • Applicants can secure permanent residency in Cyprus through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires investment of just €300,000 into property to gain the Cyprus residency permit. 

The residency visa is granted within two months and covers the whole family. It includes parents of the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse.

 

The permanent residency programme offers ease of travel throughout the European Union and it requires just one visit to Cyprus by all family members once every two years. 

 

  • The investment may be made by a company for which the main applicant and spouse are beneficial owners. The investment can be in to a maximum of two properties provided they reach the €300,000 permanent residency limit. The properties purchased must be brand new.

 

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