Cyprus Permanent Residency Criteria
Obtaining a Cyprus Permanent Residency by investment is a simple, easy and fast procedure with no extreme requirements or trouble. The steps are clear and easy and the residency can be obtained within 2 months. The applicant does not have to be present for the application and can be represented by legal representatives.
- The applicant must buy a new property for the minimum amount of €300.000 plus VAT.
- The first €200,000 + VAT must be paid by the date of filing of the application to be able to apply.
The Financial Aspect
- Proof of an annual secured income of a minimum amount of €30.000 coming from abroad.
- The applicant must maintain a fixed deposit in a Cyprus bank of a minimum €30,000 for three consecutive years. The money in the bank account should be transferred from abroad.
- This amount increases by €5.000 for each of the applicant’s dependents, that is their spouse and children, and by €8.000 for each of the applicant’s and/or their spouse’s parents.
- Have a clean criminal record from their country of residence.
- Declaration that the applicant and their spouse do not intent to work in Cyprus.
- The applicant must visit Cyprus once within the first year to register biometrics. Then they must visit Cyprus once every two years.