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Cyprus Residency by Investment
Cyprus Residency by Investmentis an enticing and more attractive permanent residency option in Europe. This pathway can be constructive for those entrepreneurs and investors who are looking for a cheaper and faster option as opposed to the citizenship route. The pathway requires to purchase real estate property with a net value threshold of EUR 300,000 (INR 2.62 Crore). This route can also beneficial for those who don’t want to surrender their native residency and enjoy the benefits of both the countries. It is also as one of the cheapest way to acquire permanent Residency in Europe with 2 months of fast track processing time
Cyprus permanent residency Benefits
- Cyprus permanent residency is issued for lifetime to all the family members including (children, parents and in-laws)
- As explained earlier, the pathway has one of the fastest application process of 2 months
- You can be eligible for Cyprus Citizenship after 7 years of residency
- The country offers high standards of living, first-class healthcare, and an excellent education system.
- It has one of the lowest crime rates in Europe which makes the country safer haven for family.
- Apart from the real estate property, you can foray into other investment opportunities or own a business in Cyprus and receive dividends / profits
- You can find major opportunities in the industries such as shipping, tourism, financial services, and foreign investment.
- Cyprus does not impose tax on non-domiciled residents which means you can avoid the tax, if you maintain residence in another country. Further, there is no tax on dividends or inheritance.
- Permanent residents can obtain a Schengen visa within one week*
* Cyprus is not officially a part of Schengen Zone, therefore you would need a Schengen Visa to travel the Schengen countries. Cyprus Govt. has submitted the application to join the Schengen Zone, once approved then the Cyprus permanent residency visa holders can travel freely throughout Europe.
Application Process
Stage 1 – Property selection and purchase
- Must research and then you can visit Cyprus to view the shortlisted properties before purchasing
Stage 2 – Opening a bank account in Cyprus
- You need to open a bank in Cyprus and make a fixed deposit of minimum EUR 30,000 (INR 26.2 Lac)
Stage 3 – Documentation Preparation
- Need to arrange all the documents as per the detailed checklist. Our documentation team will provide all the help and support in arranging the documents.
Stage 4 – Application submission
- Submit all the documents along with application form to the Civil Registry and Migration Department.
Stage 5 – Approval and PR Card
- Once the application is reviewed and approved by the authority, you will receive immigration certificate and residency cards.
Processing Time And Fees
You can expect the application processing time as fast as possible under Cyprus residency by investment. The permanent residency can be attained within 2 months. The application fee is at EUR 500 (INR 44,000) upon the application submission and an additional EUR 50 (INR 4,400) for biometric process.
How amoldeglobalmigration can help for Cyprus Residency by Investment:
Cyprus permanent residency process is no cake-walk when it’s done without any professional help. You would require a team of documentation experts to navigate through the complex documentation requirements and legal process. We at Abhinav, provide legal advice on investment, application process, documentation, down to the smallest detail, etc. With 26 years of legacy in Business Immigration market, we have exceeding in catering our client’s needs straight out of our local knowledge of the market and understanding of political and cultural sensitivities.
- Provide complete support and advice on various business immigration options for Non-EU Investors including Permanent Residency Permits and Citizenship Applications.
- Advice and support on the investment option, legal Due Diligence on the process, and Investment portfolio for their Application.
- Guidance on documents to be furnished and assist them in collecting the documents from the authorities until the final step of the Application process.
- Complete assistance on the opening of Personal and Corporate Bank accounts, financial services, tax advice and investment opportunities.
- Complete support for real estate purchase, exploratory visit, investment evaluation, documentation submission, legal consulting methods and post landing services.
- We assist our client right from the beginning of the process, guidance and preparation of all required documents until the successful permanent residency
- After maintaining the residency, we provide further help on Cyprus Citizenship process
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