Residency by Investment
Time To Residency
Costs of Cyprus Permanent Residency
Applicants must prove that they have made the following investments
1) Purchase or ownership of a residence
2) A Bank deposit in a Cypriot Bank, pledged for 3 years
3) Proof of income
The applicant should prove at least €30,000 income for himself and plus €5,000 for each dependent on:
- An applicant may purchase up to 2 residential units (apartments or houses), or 1 residential unit and 1 shop with an area of up to 100m² or 1 residential unit and an office with an area of up to 250m²
- Residences or apartments may be independent of each other but both must be sold by the same
- The property must be new (not a resale)
- All investment funds must be proved to have emanated from abroad.
- A Declaration is signed by the applicant/spouse that there is no intention to be employed in Cyprus. The applicant and/or his wife could be shareholders and directors in a company registered in Cyprus.
- All applicants must visit Cyprus at least once every 2 years.
- All applicants must have a clean criminal record.
- Unmarried children between the ages of 18 and 25, provided they are students and financially dependent on the applicant, can submit their own application to obtain the Permanent Residency Permit on the basis of the main applicant’s investment
Savory & Partners professional fees, official application forms, certification of citizenship and passport, courier & other disbursements are the only other costs associated. A full-itemized quotation with no hidden costs is provided.