✓ Business registration and acquisition services in Cyprus
✓ Tax optimization in Cyprus
Cyprus Permanent Residency through Investment in 2024
Cyprus legislation offers a unique opportunity to obtain permanent residency in the EU through investments, providing indefinite residency for the whole family, flexibility in living conditions, and access to a favorable tax system, making Cyprus an attractive place for living, business, and investments.
Permanent residency programs in Cyprus through investment are divided into two main categories:
1.Fast Track Permanent Residency (Category 6.2)
Permanent residency is granted with investments starting from 300,000 euros in real estate, companies, and investment funds. Known as the “Cyprus Golden Visa,” this investment program offers non-EU citizens the opportunity to obtain permanent residency in Cyprus within about 2-4 months. The first residency card is issued immediately for 10 years with the possibility of renewal.
2. Permanent Residency in Cyprus under Category F (Slow Track Permanent Residence Permit)
It involves investments in real estate up to 300,000 euros, but the processing time for the application takes from 12-24 months.
Benefits of Cyprus Permanent Residency through Investment
✓ Indefinite Permanent Residency: Unlike other investment programs in EU countries, Cyprus grants permanent residency outright, rather than temporary residency. The initial residency card is valid for 10 years with the option of renewal.
✓ Residency for the Whole Family: Permanent residency extends to the entire family, including spouses and children.
✓ Minimal Residency Requirements: There’s no need to permanently reside in Cyprus – it’s sufficient to visit the country once in the first year and then once every two years thereafter.
✓ Remote Document Submission: The possibility of submitting residency card documents in Cyprus by a lawyer, without the applicant’s personal presence.
✓ Flexibility of Stay: The option to live in Cyprus permanently or visit at any time for leisure.
✓ Tax Optimization: Cyprus residents can benefit from a favorable tax system, including low personal income tax rates, a corporate tax of only 12.5%, 0% tax on dividends, as well as no inheritance tax, gift tax, or annual property tax.
✓ Rental Income: Properties can be rented out, providing a stable passive income.
✓ No Language Requirements: There’s no need to know the Greek language to obtain permanent residency.
✓ Citizenship Acquisition: Upon meeting the conditions, one can obtain Cypriot citizenship in just 5 years. A Cyprus passport allows visa-free travel to 181 countries or visa-on-arrival entry.
Investment Options for Cyprus Permanent Residency (Fast Track)
The conditions for obtaining residency in Cyprus through investments remain attractive and accessible for investors in 2024. There are several options for obtaining permanent residency in Cyprus through investments, providing investors with flexibility and choice based on their financial goals and preferences.
1.Purchase of Residential Real Estate
This could be a residential property, such as a house or apartment, purchased for a minimum price of 300,000 euros plus VAT.
Investing in real estate in Cyprus is the most sought-after option because property investments on the island offer a unique combination of stability and reliability. This contributes to long-term capital preservation and growth, attracting both investors seeking to acquire housing for personal use or for rental income purposes.
Additionally, Cyprus does not impose an annual property tax, and property owners are not required to pay additional expenses for owning and using their property.
The property must be new and purchased from a developer. It is possible to purchase two properties from different developers.
Purchasing secondary real estate is not allowed to participate in the fast-track permanent residency program.
Real estate can be purchased through a company provided that the company is registered in the name of the applicant and/or the applicant and spouse, and that they are the sole shareholders with full ownership rights.
Real estate can be rented out.
2. Investment in Commercial Real Estate
Investing in commercial real estate, such as offices, shops, or hotels, for a total amount of at least €300,000 (excluding VAT).
A combination of multiple properties is possible, and the purchase of commercial real estate is available in both the primary and secondary markets, allowing investors to choose the most suitable properties for their investment strategies.
3. Investments in Cypriot Companies totaling €300,000
The company must be registered and operating in Cyprus, and have a physical office in Cyprus.
The company must employ at least 5 employees.
The investor and their spouse can be shareholders of companies registered in Cyprus and receive dividends. They also have the right to work as Directors in such companies.
4. Investments in Cypriot Investment Funds totaling €300,000
Permissible types of investment funds include AIF, AIFLNP, RAIF.
Other Requirements for Obtaining Cyprus Permanent Residency through Investment:
If the investor will be investing in commercial real estate, Cypriot companies, or funds, they must provide proof of accommodation in Cyprus (either owned or rented).
The applicant must confirm an annual income of at least €50,000 plus €15,000 for the second spouse and €10,000 for each minor child.
Applicants cannot work in Cyprus as employees, except for working as directors in the company they have chosen to invest in.
The Feod Group team in Cyprus possesses extensive practical experience in immigration procedures, selecting optimal investment strategies, and tax optimization!
Discover all the intricacies of obtaining permanent residency in Cyprus and receive professional consultation right now!
Permanent Residency in Cyprus under Category F (Slow Track)
The program for obtaining permanent residency under Category F offers property buyers the same benefits as the accelerated program, but entails a longer waiting period for application processing.
Property Purchase: There is no minimum property value requirement for this program, unlike the investment threshold needed for obtaining permanent residency in Cyprus. Instead, it provides flexibility in selecting properties across various price ranges, including the secondary market.
Annual Income: Applicants must demonstrate an annual income of at least 9,568 euros for themselves and 4,613 euros for each family member, although the Civil Registry and Migration Department may request additional amounts as needed. The income must come from abroad and may include salaries, pensions, stocks, and rental payments.
Bank Deposit in Cyprus: Depositing approximately 15,000 to 20,000 euros into a Cypriot bank account is required, which is not considered as collateral. This deposit can be utilized after the application is submitted.
Comparison of Permanent Residency Programs in Cyprus: Fast Track vs. Category F (Slow Track)
Fast Track Procedure
Category F (Slow Track)
Investment Options
Real Estate, Companies, Funds
Real Estate
Minimum Property Value
From 300,000 euros
No minimum property value specified
Purchase of Secondary Property Allowed
No
Yes
Financial Criteria
Applicant must demonstrate an annual income of at least 50,000 euros,
+ 15,000 euros for the spouse
+ 10,000 euros for each child
Applicant must demonstrate an annual income of at least 9,568 euros for the main applicant
+ 4,613 euros for each family member
Can an Applicant Work in Cyprus
Not allowed to work in Cyprus, but applicant can own a Cypriot company and receive dividends
Application Processing Time
Approximately 2-4 months
12-24 months
Step-by-step procedure for obtaining permanent residency in Cyprus through investment:
✓ Preliminary Financial Check
Conducting a preliminary check of the applicant and the source of funds (Due Diligence check) is necessary for ensuring the success of the case and reducing risks. This stage ensures compliance of all provided information with legal requirements and program rules, and helps eliminate possible obstacles and negative consequences in later stages of the residency status process.
✓ Choosing an Investment Option
The most common option is purchasing real estate in Cyprus. If you choose this path, you should visit Cyprus to inspect available properties or utilize the services of a representative for remote selection.
✓ Document Preparation
At this stage, all necessary documents for making investments and applying for residency status are collected. This includes various documents that may vary depending on the client’s individual situation: financial documents, a certificate of no criminal record, medical insurance, as well as documents confirming the applicant’s marital status and dependent family members. Feod Group lawyers perform a wide range of tasks, including completing government forms, document translation, and certification of copies.
✓ Application Submission
Applications are processed by the Civil Registry and Migration Department (CRMD). Clients do not need to be present in person to submit the application, as our lawyer in Cyprus can submit the application to the CRMD on behalf of the client by power of attorney. Processing of the application for obtaining Cyprus permanent residency takes about two months from the date of document submission.
✓ Receipt of Resident Cards
After approval, the applicant and their family members need to visit the CRMD to provide biometric data. Upon completion of all stages, the applicant and their spouse receive resident cards valid for 10 years, confirming their status as permanent residents of Cyprus.
It is important to consider that each step requires careful planning and adherence to established procedures for successful completion of the permanent residency process in Cyprus.
Our company's lawyers in Cyprus provide support to clients at every stage of this process, offering assistance with all legal matters!
Services and Legal Support by Feod Group
Our long-term experience and presence in Cyprus enable us to provide a wide range of services and qualified legal support on various matters.
Consultations on selecting the optimal Golden Visa program in the European Union, considering the client’s individual needs and investment opportunities.
Legal support at all stages of the process of obtaining residency status in Cyprus, including document preparation and interaction with immigration authorities.
Investment and financial consulting to determine the most advantageous investment opportunities in Cyprus.
Provision of legal and business services, including company registration, purchasing existing businesses, employee relocation, and opening bank accounts.
Tax optimization considering the new resident status and investment assets, including the development of tax minimization strategies.
Legal Support in Cyprus by Feod Group is a partnership aimed at achieving success and protecting the client's interests in the long term!
Cyprus Permanent Residency (PR) by Investment – FAQ
How to Obtain Permanent Residency in Cyprus through Investment?
You can obtain permanent residency in Cyprus through investments starting from 300,000 euros by purchasing residential or commercial real estate, acquiring shares in Cypriot companies, or investing in private investment funds.
Applicants must have an annual income of at least 50,000 euros, pass a reliability check, and prove the legality of the source of funds.
What does Cyprus Permanent Residency Offer to Investors?
Investors obtaining permanent residency in Cyprus through investment enjoy numerous benefits. These include indefinite right of residence, with a resident card valid for 10 years, providing stability and security. Moreover, minimal residency requirements allow investors to avoid the burden of continuous residence on the island. Tax optimization is another advantage, enabling residents to benefit from Cyprus’ favorable tax system. Finally, meeting certain conditions allows investors to obtain Cypriot citizenship and a passport in just 5 years, granting visa-free access to 181 countries worldwide.
How to Obtain Residency in Cyprus through Real Estate Investment?
An investor can obtain immediate permanent residency by purchasing real estate in Cyprus. Buying new residential property from a developer or commercial property worth at least 300,000 euros qualifies for accelerated application processing (within 2 months).
In addition to the above-described program for obtaining permanent residency in Cyprus through a real estate purchase of 300,000 euros, there is also a program for obtaining residency through real estate investment of at least 100,000 euros – Category F. However, the application processing time is at least 12-18 months.
Can Investors Rent Out the Property?
Yes, you can rent out the property and generate income. Feod Group in Cyprus offers property management services.
Why Invest in Cyprus in 2024?
The demand for investments in Cyprus in 2024 continues to remain stable. This is due to the stable economic and political situation, legislation that fully protects assets and capital, favorable tax benefits, high quality of life, safety, developed infrastructure, and an efficient healthcare system, making Cyprus an attractive destination for investors. In 2024, Cyprus remains an attractive investment destination, offering a wide range of opportunities for capital growth.
Luhina Iryna Head of department Visas and Immigration Ukraine
In 2006 graduated from the National Aviation University (NAU), Kiev with a degree in Philology, Translation. Irina Lugina has many years of successful work experience in large companies with a voluminous workflow. Within Feod Group specializes in: visa support by category for financially ...
In 2006 graduated from the National Aviation University (NAU), Kiev with a degree in Philology, Translation. Irina Lugina has many years of successful work experience in large companies with a voluminous workflow. Within Feod Group specializes in:
visa support by category for financially independent foreigners, visas for entrepreneurs and investors in the EU, Great Britain and the USA.
preparation and compliance of packages of documents for registration of companies in low-tax jurisdictions, opening bank accounts.
obtaining a residence permit and permanent residence in Ukraine on the basis of marriage and through company registration.
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.
