Permanent Residence Permit by Investment in Cyprus
Feod Group has for many years provided a full range of services for obtaining permanent residence in Cyprus, by an investment in Cyprus and obtaining permanent residency.
The company has accredited Cypriot lawyers
✓ Obtaining unlimited residence permit for the entire family
✓ No requirement for permanent residency in Cyprus
✓ In 2021, new investment options were added: residential and commercial real estate, business, investment funds
✓ Ability to obtain EU citizenship after 7 years of residency
If you are in Cyprus and you require our advice or support for your needs, kindly make a request and call Feod Group offices in Larnaca + 357 99 849 525 (WhatsApp)
Permanent Residence Permit by Investment
The program for obtaining an indefinite residence permit in Cyprus is available for citizens from non-EU countries with an investment of 300,000 euros or more.
Previously, Cyprus permanent residence for investment could only be obtained by purchasing residential real estate.
But in March 2021, the Minister of Interior adopted a number of changes in the procedure for obtaining permanent residence.
New criteria in obtaining a Permanent Residence Permit by Investment in Cyprus 2021
The applicant must invest the amount of at least €300,000 (not including VAT) in one of the following categories:
1A: Purchase of a residential property (house or apartment) from a developer.
- The purchase must be a first sale unless the purchase took place before the 07/05/2013.
- At the time of the application, at least €200,000 (not including VAT) must be paid.
- In addition, it is possible to purchase up to 2 properties for the total investment amount of €300,000. It is also noted that in case 2 properties are purchased, these do not have to be bought from the same developer.
- The applicant must prove that the income is derived from abroad in case the investment is according to 1A above. In addition, the annual income of the spouse of the applicant can be combined with the income of the applicant.
1B: Investment in immovable property (except houses/apartments) such as offices, shops, hotels etc. or a combination of these of the total amount of at least €300,000.
- The investment can be resale.
1C: Investment in the capital of a Cyprus company with activities in Cyprus and at least 5 employees.
- The company must be registered and operate in Cyprus and also have a physical office in Cyprus.
- The investor and his/her spouse may be shareholders in companies registered in Cyprus and receive dividends. They can also be director (without salary) in such companies.
1D: Investment in funds (AIFS, AIFLNP, RAIF)
Other criteria and requirements for obtaining permanent residence by investment
• Note: It is noted that the real estate purchase may be accepted even when made in the name of a legal person, provided that the applicant and/or his/her spouse are the sole shareholders or the ultimate beneficial owners of it, and that this legal person is legally established in the Republic of Cyprus or other member state of the European Union or European Economic Area.
• In addition to the above, the applicant must illustrate that he/she has an annual income of at least €30,000 (plus €5,000 for every dependent person, plus €8,000 for each parent). The income may derive from salary, pension, dividends, deposits, rental income etc.
• In case the investment is according to paragraphs 1B, 1C or 1D above, the annual income of the applicant or part of it can be derived from within the Republic of Cyprus.
• The Investor and his/her spouse must submit a confirmation of a clean criminal record from their country of origin.
• The Investor and his/her spouse should confirm that they do not intend to be employed in Cyprus in any direct or indirect manner except in the position of Directors in a company which they intend to invest under 1C above.
• In case the investor will invest under 1B, 1C or 1D, he/she must present evidence of residence in Cyprus such as title deed or rental agreement.
Dependent Family members
• Single children between 18-25 years old which are students and which are financially dependent on their parents, may apply, without fulfilling any personal financial requirements. In this case the parents will need to prove additional income of at least 5,000EUR for each dependent child.
• The permit will remain valid even after the holder has exceeded the age of 25 and even if he/she is no longer single and/or financially dependent on his/her parents. It is however noted, that their future spouse and/or children will not be entitled to obtain the Permanent Residency Permit.
• The parents of the couple are also eligible to acquire the Permanent Residency Permit, without any further investments. However, the couple must prove additional income of at least 8,000EUR for each parent.
• Permits may be granted to adult children who are not financially dependent provided that the investment amount will be higher: If there is only one adult child, the investment should be doubled (i.e. €600,000) if two children, €900,000 etc. In addition, the adult child must show evidence that she/he has an annual income of €30,000.
Feod Group has been providing a full range of services in obtaining permanent residence in Cyprus, both at the stage of selecting and buying real estate, and at the stage of applying and receiving a residence permit in Cyprus.
How Feod Group can support you in obtaining permanent residence in Cyprus?
Over the years, Feod Group has assembled a team of professionals who can assist and support you in obtaining Cypriot citizenship or residence permit.
Our knowledge of Cyprus law and current practice in Cyprus and professional experience are at your disposal.
- discussion of the conditions of the program with a Cypriot lawyer, signing a Client Agreement;
- selection of investments according to client’s criteria, full legal due diligence of transaction;
- accompanied viewings of real estate by accredited international property expert of Feod Group;
- meeting with the client in Cyprus and providing detailed explanations regarding: procedures, documents for investment, legal due diligence of transactions, reviewing the contract of sale, clarification of the law and protection of the interests of the client during the purchase procedure until the rights of the property owner;
- transaction support by an accredited Cypriot advocate;
- registration of sales contract within the Land Registry;
- filing and obtaining permission of the Council of Ministers of the Republic of Cyprus for the purchase of real estate by a client;
transfer of the Property Title (Title) in the name of the buyer;
- preparation of documents for submission to the immigration services of the Republic of Cyprus and other state and commercial authorities.
Cyprus, geographically located between East and West is an ideal hub, both for business and family. It offers ideal climate, safe business environment and minimum 360 days of the year perfect weather, as well as being a Christian Orthodox country.
Feod Group provides together with its Cypriot partners a unique professional service to their clients.
To receive more detailed information about the program in obtaining a residence permit in Cyprus, please contact us for a consultation conducted by the Feod Group, Cyprus Director – Chryso Christothidou.