program
Cyprus Residency by Investment
Program Overview
Minimum Investment
N/A Donation
Minimum Investment
€300,000 Real Estate
Time to Residency
4-5Months
Visa Free Access
1 Countries & Territories
Cyprus Residency by Investment Requirements
As of 2016, the government of Cyprus allows applicants to obtain a permanent residency by investment.
To qualify, you are required to be over 18 years of age, in good health and without a criminal record.
Additionally, you are required to deposit capital in a financial institution in Cyprus, which will be pledged for 3 years.
You are also required to make a real estate purchase and provide proof of a secure annual income for yourself and all dependents.
Main Applicant Requirements
- 18+ years of age
- Good health
- No criminal record
- Successfully pass due diligence checks
- Confirmed investment sources
- All applicants must visit Cyprus at least once every 2 years
Eligible Dependents
- Spouse of the main applicant
- Children (biological or adopted) under 28 years of age
- Dependent parents
Cyprus Residency by Investment Benefits
Permanent Resident status
As a resident of Cyprus, you and your family can freely reside in the country.
Health & Education
As residents, you and your family will have access to the best universities and schools, and world-class healthcare.
Tax relief
Cyprus has one of the lowest taxation rates in Europe, with no foreign income tax, inheritance tax and withholding tax on interest earned.
Pathway to citizenship
If requirements are met, this residency program can lead to Cypriot citizenship.
Business opportunities
You can register a company or be a shareholder in any Cypriot company.
Dual Residency permitted
Cyprus allows dual residency, permitting you to keep your existing nationality and any other residencies.
CYPRUS | Residency by Investment
Legal Basis
Cyprus grants non-EU nationals the right to permanently reside in Cyprus with no renewal requirements. Permanent Residency is granted to third-country nationals, who apply under Regulation 6(2) of the Aliens and Immigration Regulations, provided that they fulfil the Financial Criteria.
Costs of Cyprus Permanent Residency
Minimum investment
EUR 300,000 + VAT
Minimum amount
EUR 30,000
Minimum amount income (main applicant)
EUR 30,000
Each dependent
EUR 5,000
Application Process For Cyprus Permanent Residency
Application Process
4-5 months
- Step 1Savory & Partners will pre-screen your passport copy for government pre-approval. A down payment of the professional fees is required to open your application. The response is in 24-48 hours.
- Step 2We will provide assistance and advice with regards to the collection of the documents required in the checklist for the Cyprus Visa application. A Meeting is then set up with dedicated Attorneys in Cyprus so that a “Power of Attorney “mandate is signed in the presence of a certifying officer.
- Step 3Savory and Partners will assist in the opening of a Cypriot bank account.
- Step 4We will guide you to the Cypriot property that fully satisfies your requirements (€300,000) and start preparing the property purchase documentation required to be presented for the Permanent Residency application. An initial payment of at least €200,000 must be made
- Step 5Once the sale agreement for the purchase of your property is signed and all other relevant documents gathered, the Permanent Residency application will be filed with the Migration Department. Approval can be expected within two months, and Permanent Residency is granted provided all requirements have been met.
- Step 6Once the Permanent Residency Permit has been granted, the applicant must visit Cyprus within one year to obtain the actual permit and passport stamps. The remaining 50% Savory & Partners fees are paid.
PORTUGAL | RESIDENCY BY INVESTMENT
READY TO APPLY?
Visa-free Countries for Cyprus Residency
Visa-free and visa-on-arrival countries
2 Countries & Territories
Visa-free access
- Bulgaria
- Romania
Client Success Stories
Success Stories - A safe and bright future
The problem
Our Indian client, a business owner and single parent was looking for long-term residency in a country that would ensure quality education and safety for his daughter. With a successful business set-up in his home country, he could not consider relocating as it would limit his growth opportunities. At the same time, he wanted to secure a bright future for his daughter ensuring world-class education but was also wary about her well-being and safety. Above all, recently divorced, it was challenging for the client to procure documents for his daughter.
The solution
When the client approached Savory & Partners, we considered the many sentiments involved including that of a father, a dedicated businessman and a single parent. We understood his requirement and prepared a strategy that would not only serve his personal life positively but would see his business grow by leaps.
We recommended Portugal, not just for the simplicity of obtaining a residence permit but its exceptional education system and healthcare. Portugal is known for its outstanding higher education institutions.
Portugal has a lot of different immigration options available. The passive income - the D7 visa, the newly christened Digital Nomad Visa and the option that is tailor-made for businessowners - the Portuguese D2 visa.
Our client could fulfill his residency requirements while also maintaining an active management role in his company without worrying about spending too much time outside of Portugal.
With residential flexibility of the Golden Visa, his daughter could relocate to Portugal immediately and he could fulfil his residency requirements while also maintaining an active management role in his company back home without worrying about spending too much time outside of Portugal. As of 2021, Portugal is globally ranked in the top ten in terms of ease of registering a company. Meaning our client would not only go ahead and bring his existing business to Portugal but could venture into new business opportunities across Europe.
Approaching Savory & Partners to undertake his residency application ensured that the client would have all the necessary documents for himself and his daughter ready on time. Our agents oversaw that all requirements for a successful due diligence were also fulfilled.
Download brochure
Content
- Cyprus Country profile
- Benefits of the program
- Investment requirements
- Investment process
Length
4 pages
Language
English & Arabic
size
1 mb
ABOUT CYPRUS
CAPITAL
Nicosia
TOTAL AREA
9,251 km²
POPULATION
1.251 million
LANGUAGE(S)
Greek, English
CURRENCY
Euro (EUR)
EXCHANGE RATE
1 USD = 0.92 EUR
GDP – PER CAPITA (2022)
USD 32,048
GDP – TOTAL (2022)
USD 29.25 billion
About Cyprus
Boasting a rich and diverse culture, Cyprus offers investors a safe and stable environment which is ideal for raising families. At the crossroads of Europe, Asia, Africa and the Middle East, Cyprus is the perfect setting for global travel. An important member of the European Union, it is also an active member of the British Commonwealth.
Officially known as the Republic of Cyprus, the nation has a population of 1.1 million.
Cyprus became a member of the European Union in 2004 and the British Commonwealth in 1961.
In 2008 the country adopted the euro, becoming part of the Eurozone currency union.
With a GDP of $28,000 per capita, the country is an advanced, high-income economy with a very high score on the Human Development Index.
Cyprus boasts an established offshore banking sector plus the lowest corporation taxes in the EU making for attractive international tax planning possibilities, plus many tax exemptions exist for non-residents with free trade within the European Union
The Island has signed double taxation treaties with 43 countries. The legal system is based primarily on English Common Law.
English is widely spoken and understood in business and everyday life.
Offering a warm Mediterranean climate, the island has over 340 days of sunshine per year.
An excellent education system with some high standard schools and universities and first-rate healthcare;
Tourism, financial services and shipping contribute significantly to the economy, and recently offshore gas fields have been discovered.
Real Estate yields and prices are rebounding strongly since reaching historical low price points during the global financial crisis.
Where is Cyprus?
Cyprus is the third largest and third-most populous island in the Mediterranean. It is east of Greece, north of Egypt, south of Turkey, and west of Lebanon and Syria.
CYPRUS | Residency by Investment
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