Cyprus Permanent Residency
Cyprus, officially known as the Republic of Cyprus is an island situated in the Eastern Mediterranean Region. Cyprus has a history dated long back to the prehistoric period where the earliest human activity happened to be in Cyprus. The immense development in the economic growth of the country has made Cyprus an ideal place for immigrants to settle in and lead a life with peace & harmony. Looking into the country’s immigration options, Cyprus Permanent Residency by Investment could be one ideal option which an individual who wishes to migrate to Cyprus should consider.
What is Cyprus Permanent Residency by Investment?
Cyprus Permanent Residency is the status that an individual gets which allows him/her to enter and live in Cyprus without obtaining a visa. The country is small but highly-developed and has a highly competitive tax system, a legal framework that is transparent and has an extensive network and a business-friendly environment bringing increased opportunities to its residents & citizens. The Cyprus Permanent Residency by Investment is where an individual has to invest in the Cyprus real estate sector and buy properties which allows him/her to become a permanent resident of that country.
Requirements to Migrate Under Cyprus Permanent Residency by Investment: -
- The individual who wishes to migrate to Cyprus under the Cyprus permanent residency by Investment should make a purchase of one or more properties in Cyprus valuing a minimum of at least €300.000
- He/she should be able to prove that they are free from convictions and provide a police clearance certificate from their origin country.
- The applicant should provide a statement stating that they do not have any intention to work in Cyprus.
- The individual who has obtained Cyprus Permanent Residency should visit Cyprus at least once in every two years which is one of the mandatory requirements.
Other Things You Should Know About Cyprus Permanent Residency by Investment: -
- The visa type that the individual gets immigrating to Cyprus is a permanent residence visa.
- The processing time required for Cyprus Permanent Residency by Investment is an approximate time period of two months.
- The individual requires to have a minimum of 7 years residence to qualify for Cyprus Citizenship. By immigrating under the Cyprus Permanent Residency by Investment allows him/her to apply for citizenship at any time.
- The individual has no language requirements that to be met.
- Cyprus allows its citizens to possess Dual Citizenship (Once becoming a citizen of Cyprus, he/she can also keep up their previous country’s citizenship status).
Benefits of Migrating Under Cyprus Permanent Residency by Investment: -
On migrating to Cyprus, an individual gets a numerous number of benefits which are listed below:
- The processing for permanent residency visa is quite fast unlike other countries.
- No minimum requirements to stay in Cyprus.
- Spouse & Children aged below 25 years can obtain Permanent Residents status and the family gets quality standards of living, free education & high healthcare facilities.
- The Permanent Resident status is valid for lifetime for an individual.
Cyprus permanent residency by investment is one of the ideal options an individual can opt for if he/she wants to experience a high standard of living. To know more about Cyprus Permanent Residency by Investment, get in touch with our team of experts.