Residence permit, permanent residence and citizenship of Cyprus
Since 1992, Feod Group has been providing full legal support for relocation to Cyprus:
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The company has accredited Cypriot Advocates
Important: Obtaining professional advice at the first consultation with Feod Group will clarify the main issues on obtaining a residence permit, permanent residency and citizenship of Cyprus, the conditions for the purchase of an existing business in Cyprus, the terms of rental or purchase of real estate, taxes for residents of Cyprus, confirmation of the origin of funds, conditions of obtaining a Cyprus passport by investment, family reunion and many other issues.
- All consultations are conducted by qualified and accredited Cypriot lawyers.
- Consultations are conducted from our office in Cyprus, or via Skype.
Feod Group includes a English, Russian and Greek-speaking lawyers in Cyprus.
Obtaining a residence permit and immigration to Cyprus:
- Residence permit in Cyprus for financially independent foreigners (Pink Slip).
- Permanent residence in Cyprus for property owners.
- Residence permit and permanent residence of Cyprus for company owners in Cyprus.
- Corporate transfer of employees to Cyprus (Intra – Corporate Transferee).
- Citizenship of Cyprus by investment.
- Tax resident of Cyprus.
- Family reunion in Cyprus.
- Real estate for rent, buying a business or real estate in Cyprus.
- Education in Cyprus.
Residence permit in Cyprus for financially independent foreigners
The residence permit «Visitor» (also called «pink slip») is intended for those who wish to reside in Cyprus for more than 3 months.
Features of a residence permit in Cyprus for financially independent foreigners
- Consideration of the application is about 3 months, but the applicant has the right to stay in Cyprus while the application is pending.
- A minimum monthly income of € 2,000 per principal + 400 € per other family member must be confirmed.
- It is necessary to open an account with a bank of Cyprus in the amount of 25,000 € for the main applicant.
- To obtain a residence permit, it is also necessary to confirm the place of residence in Cyprus, it can be either rented or purchased residence.
- A residence permit is issued for 1 year and can be extended an unlimited number of times.
- It is possible to obtain a residence permit for all family members, including children and parents of both spouses.
Permanent residence in Cyprus for property owners
In Cyprus, there is an accelerated procedure for obtaining permanent residence for foreign citizens – buyers of Cypriot real estate worth from 300 thousand euros.
Features of obtaining permanent residence in Cyprus:
- Investment options: from 300 thousand € purchase of real estate + minimum deposit of 30,000 € in a Cypriot bank for a period of 3 years.
- Residence permit for the whole family: spouse, children under 25 years old, dependent parents of the applicant and / or spouse.
- Unlimited permanent residence is issued immediately.
- Citizenship: after 7 years of residence in Cyprus.
- The applicant and the family members included in the residence permit are required to visit Cyprus at least once within 1 year from the date of approval of the application and thereafter once every 2 years
Residence permit and permanent residence of Cyprus for company owners in Cyprus
Benefits for company owners in Cyprus
Cyprus has a number of indisputable advantages for conducting of business activities and opens up many opportunities for businessmen and their families:
- Cyprus is not included in any of the “black lists” of offshore jurisdictions.
- simplicity and speed of registration of any type of company.
- ease and transparency of conducting a business.
- low cost of maintaining the company.
- full integration into the European Union.
- low taxes (no tax on interest, no tax on dividends, reduced tax on royalties, no wealth tax , etc.)
- Information about the beneficiaries of a registered Cyprus company is confidential and is not kept in an open register.
- family immigration to Cyprus.
- free or reduced cost for education at universities and schools in Europe for children.
Features and requirements of business immigration to Cyprus
- A registered company in Cyprus must comply with the Substance rules.
- Only a resident who has a stable income, as well as an open account in a Cyprus bank, can obtain a residence permit through a business in Cyprus.
- Availability of housing in Cyprus. Even in the case of opening your own business, it is necessary to confirm the fact of Cyprus ownership or long-term lease.
- Confirmation of the integrity of the applicant: absence of violations of the EU visa regime, absence of deportations, lack of criminal record.
- Residence permit in Cyprus is issued for 1 year with the possibility of extension. After 5 years – permanent residence, and after 7 years – it is possible to obtain Citizenship and a Cyprus Passport.
We accompany all clients’ actions related to registering or purchasing businesses in Cyprus, and at the same time we provide a full range of services for obtaining immigration status for the entire family of the client.
Corporate Transfer of Employees to Cyprus (Intra Corporate Transferee)
Intra-corporate transferees (ICT) — the programme is intended for managers and employees of a company whose head office is located outside of Cyprus and other EU countries. In accordance with this programme, an employee of the parent company is transferred according to a simplified scheme to a branch of a company registered in one of the countries of the European Union.
Conditions and requirements for the Intra-corporate transferees for employees in Cyprus:
- It is necessary to prove and confirm that the companies belong to the same group of enterprises.
- Confirmation of official labour relations with the Company, which sends an employee to Cyprus for at least 12 continuous months immediately preceding the date of the internal transfer.
- An employment contract and letter of appointment from the employer, certified by the Ministry of Labour of Cyprus.
- Proof that a third-country national has the professional qualifications and experience that a company in Cyprus needs.
- The salary is not less than the average economic level of this professional profile in Cyprus.
- Lack of criminal record in the country of citizenship.
- Medical insurance validity in Cyprus.
Advantages of corporate transfer of employees to Cyprus:
- No need to obtain a work permit and prove the absence of suitable resident candidates.
- No requirements for the minimum annual turnover of the company.
- Better mobility of ICT card recipients within the European Union.
- The applicant’s family members can also obtain a residence permit: children under 18 years of age, and the spouse.
Cyprus citizenship by investment
The program for obtaining Cyprus citizenship by investment in 2020 is one of the simplest and definitely the fastest in the European Union: within 6 months from the date of application – a Cyprus passport.
The effectiveness and progressiveness of the programme lies in the protection and return on investment, the ability to increase capital under certain conditions.
- the investor and his family receive all the rights of an EU citizen
- no requirements for permanent residence in Cyprus
- significant tax benefits + tax resident status
- the right to reside and work in any country of the European Union
Investment options for obtaining citizenship of Cyprus:
- Investments from € 2,000,000 in residential or commercial real estate.
- Purchase, creation or participation in a business in Cyprus (investments from 2,000,000 €), in which at least 5 EU citizens obtain employment plus purchasing a residence in Cyprus amounting to 500,000€
- Investments from € 2,000,000 in financial assets, such as: bonds, securities plus purchasing a residence in Cyprus amounting to 500,000€
- Investments in Cyprus shipping industry
- Combining investment options.
Cyprus tax resident
Conditions for obtaining tax residency in Cyprus
- The applicant must live in Cyprus for at least 60 days during the tax (calendar) year;
- The applicant must maintain a permanent residence (real estate) in Cyprus, which may be in his possession owned or rented;
- The applicant must not be a tax resident of any other state or stay in any other state for a period or periods exceeding 183 days in relation to any year when Cyprus tax resident status is requested;
- The applicant must conduct business in Cyprus or be employed in Cyprus or be a director of a company registered in Cyprus at any time during the tax year. Such business, employment or management must be maintained until the end of each year in which the status of Cyprus tax resident is requested.
Family Reunion in Cyprus
1. Visa to Cyprus for the purpose of marriage.
A foreigner who wishes to marry a citizen of Cyprus must provide the documents defined by law, namely:
- confirmation of the absence of a previously registered marriage in Cyprus (Affidavit);
- confirmation of the absence of a previously registered marriage in the country of which the applicant is a citizen;
- various certificates (of birth, divorce, etc.) issued in accordance with the requirements of Cyprus law.
Usually, the date of the wedding ceremony is appointed no earlier than 15-60 days from the date of submission of all documents to the municipality.
2. Cyprus residence permit for spouse.
In order to obtain a residence permit as a spouse of a Cyprus citizen, it is also necessary to provide a number of documents and evidence of the actual joint residence of the spouses. After three years of being a spouse / citizen of a Cypriot citizen, it is possible to apply for citizenship.
3. Reuniting Parents with Children
Our Cypriot lawyers within Feod Group are highly experienced and accredited through Cyprus Bar Association and English Law Society
Real estate for rent, buying a business or real estate in Cyprus
• Property for rent in Cyprus.
Feod Group cooperates with leading property developers and real estate agencies in Cyprus and provides services for the selection of apartments, houses, villas for rent to non-residents. Our Cypriot real estate lawyers will provide full due diligence, carry out all the necessary formalities for signing a long-term lease of real estate.
• Buying Property in Cyprus
Our qualified specialists and Cypriot advocates/lawyers will prepare your documents for the purchase of real estate, check the documents of the seller, to ensure no encumbrances.
• Buying a business in Cyprus
Feod Group will provide you with services for selecting a business, its technical, financial and legal audits with a detailed report, will provide services for the corporate scheme and tax planning for the purchase of commercial real estate in Cyprus.
We will select a business or property according to your criteria.
Education in Cyprus
Feod Group experts will help you choose an educational institution in Cyprus and a course that meets the applicant’s intentions. An educational institution can be selected from among our trusted partner educational institutions, as well as any other officially recognized by the state.
In addition, Feod Group offers a unique Educational Concierge service, which covers all issues related to education in Cyprus.
Feod Group is one of the leaders in organizing study abroad programs.
Why clients choose Feod Group
Since 1992, Feod Group has been providing a wide range of legal, business and immigration services in Europe, the USA and other countries of the world.
The company has accredited western lawyers, experts in various fields of law and jurisdictions of the world.
Having offices in Europe and the USA, Feod Group provides rapid paperwork and maximum customer comfort.
We provide our clients with related services, such as relocation and adaptation abroad, organizing family relocation abroad, enrollment of children in schools and many other services.
For the initial analysis of your request, Feod Group recommends to obtain a professional consultation from English and Cypriot experts, at which you will receive detailed information about Cyprus programmes .
We will be happy to be of service to you!