Cyprus Business Immigration
Permanent Residency in Cyprus by Purchase of Property Valued 300,000 EUR. So, a minimum of $300,000 investment require for Cyprus business immigration. The time period for processing is two months.
Through Cyprus business immigration you got a permanent residency permit. This Permit provided to spouse and dependent kids up to 25 and parents/parents-in-law. As per Cyprus business immigration after seven years you are eligible to apply for citizenship in Cyprus. For each family member, the Cyprus Government fee is 500$. It is not necessary to renew the permit because it’s legitimate forever and there is no renewal fee.
Who Qualifies?
- The residency permit applies to the investor, their spouse, minor children, unmarried dependent adult children up to age 25 that are studying outside of Cyprus. Adult children that are over 25 but have studied in Cyprus and the parents
The investment
- Permanent Residency may be obtained through secure property investment.
- €300,000 investment in new residential real estate (in a single property or two properties)
Process
- Purchase a property with a €300,000 (net of vat) value in Cyprus.
- The Ministry of Interior shall inform the applicant/representative through the Civil Registry and migration Department of their decision within 2 months.
- The application will be examined by the Civil Registry and Migration Department and shall be submitted to the Minister of the Interior, through the Permanent Secretary of the Ministry, for a decision.
- Personal interviews are not normally necessary for this category of permit.
- Once the approval has been granted, the candidate must visit Cyprus within one year to gain the real permit card.
Fees Criteria
- The submission fee for per adult child is €2,000 and for a minor child is €80
- The Approval fee is €5,000 per adult child
- PR application fee is €500 for per family and 70 per person
Tax Criteria
- On the first property, Vat may be reduced to 5%
- purchase (first200m²), instead of 19%
- Extra taxes and duties roughly is €4,000
