4.1 Permanent Cyprus Residence

Cyprus Residence Program

PERMANENT RESIDENCE CYPRUS PROGRAM

“For all applicants who invest in Cyprus to secure their personal freedom”

Cyprus and its Mediterranean lifestyle offers a variety of pleasant amenities and is about finding the perfect balance of business, leisure, food, a safe place to live for the family and a country that offers a fast track solution to a Cyprus Residence that lets you and your family settle easily in Cyprus and eventually travel freely within the European Union.

The Cyprus Residence Program provides you with the freedom to live permanently in Cyprus. The Cyprus Residence lets you travel freely within the Schengen area.

Once you have made your decision to start looking for a property in Cyprus take advantage of our FLY-BUY Program to obtain the Cyprus Residence Permit. VIP Cyprus Residence Service is unique in the industry.

We are offering VIP viewing trips . Please ask our UAE or Cyprus office for details.

Our Fly-Buy Trips provide our clients with the ideal experience. Bringing together all our resources ‐ Local Market Knowledge, Top Quality Properties and Legal Advice. This is not just a meet and greet service. We are with you every step of the way.

Cyprus Residence Program

Area/Size

9,251km2

57 Blue Flag

beaches

High standard
of education

Excellent
healthcare

Days

360

Currency

Euro

total population

1.1m

Oficial languages

English, Greek

Requirements and conditions

  1. Accelerated process (only 2 months) from the date of the submission of the application for Residence Residence.
  2. No need to reside in Cyprus as long as the applicant and his family included in the Cyprus Residence Immigration Permit, visit Cyprus at least once every two years.
  3. To be eligible for the Cyprus Residence Program the applicant should be an owner of a property (sold for the first time by a development company) in Cyprus, a house, an apartment or any other building, for a minimum value of €300.000 + VAT (if any).
  4. Options in property purchase – i.e. two independent housing units or one housing unit and a shop or one housing unit and an office as long as the total amount is for a minimum value of €300.000 + VAT (if any).
  5. The immigration permit issued to an applicant covers his spouse and children under the age of 18. The said permit is also applicable for unmarried children aged 18 to 25 who may prove that they are students at a University and are financially dependent on the applicant. The said permit will be valid for life aSter the age of 25 without any other supportive document.
  6. Documentation as proof that the applicant and/or his spouse have a secured minimum annual income of €30.000, (increase by €5,000 for each dependent person) from sources originating from abroad (salaries, pensions, dividends, fixed deposits, rents a.s.o.).
  7. The parents of the main applicant and those of his spouse are also able to apply and obtain the Permanent Cyprus Residence Permit by just showing an extra 8,000 euros each on the main applicant‘s income certificate.
  8. The applicant should submit a confirmation letter from a financial institution in Cyprus that he has deposited a minimum capital of €30.000 into an account, which will be pledged for a period of at least three years. It must be proved that the said amount has been transferred to Cyprus from abroad.
  9. The applicant and his family included in the Cyprus Immigration Permit must submit with their application, all documentation needed as per the checklists provided by the Cyprus Government
  10. The applicant and his spouse shall confirm that they do not intend to be employed in Cyprus but it is to be noted that the applicant and/or his spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining a Cyprus Immigration Permit.

Benefits of the Cyprus Residence Program

  • Cyprus Residence Permit is permanent and no need for future reconsideration. It is a lifetime permit.
  • Permanent Cyprus Residence applies to the entire family (parents, children, grandparents).
  • Cyprus Permanent Residents have the right (under certain conditions) to apply for a Cypriot passport following their physical presence for a total of 5 years within a 7 year period.
  • Once the Permanent Cyprus Residence Permit is obtained the applicant and his family included in his Immigration permit will be entitled to apply for a Schengen Visa through any Schengen European Embassy. It is very important to note that Cyprus is expected to enter the Schengen Zone soon.
  • Cyprus Residence Program
  • Cyprus has a relaxed, stress-free lifestyle with the lowest crime rate in Europe
  • No Inheritance Tax applies in Cyprus
  • Cyprus offers an ideal family environment, enabling your children to benefit from excellent schools and universities while healthcare and infrastructure are all state-of-the-art
  • Cyprus is one of the most popular destinations for setting up companies with only a 12.5% corporate tax rate, and double taxation treaties with almost 60 countries
  • Risk free Freehold property ensures permanent property rights

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Highly favourable tax regime

Corporate
tax rate

Intellectual
Property
Tax rate

Tax on sale
of shares

Tax on dividends
to shareholders

60 double
taxation
treaties

Non-Dom

Inheritance
tax

International ranking

Value Penguin Safest Countries in the World 2015

(Among smaller Countries, 5th worldwide)

Higher education and training out of 144 countries.

(World Economic Forum Report 2015-2016)

Best relocation destination. Knight Frank Global Lifestyle Review 2013

(out of 23 countries)

Index of Economic Freedom.

(Europe, out of 44 countries, 42 globally out of 178)

Forbes Best Countries for Business Index 2015

(out of 144 countries)

Cyprus Residence

Welcome Home
With a Cyprus Residence you can have multiple places to call home. Work, enjoy a safer life, protect your family, let your children study in Paris, Rome, Frankfurt or anywhere else in Europe. When it comes to finding a living space or simply working, you won’t find yourself short on options. Consider this a very reliable safety net for the most important aspects of your life.

Be Free

Hamburg Paris Rome Dubai
The right of freedom of movement is a fundamental human right. If your current passport doesn’t allow for visa-free travel or residence in another country, you and your family are restricted, in many ways. When you have the Cyprus Residence, you are flexible. Enjoy a safer life, protect your family, let your children study in Hamburg, Paris, Rome or anywhere else in Europe. The legal benefits of the Cyprus Residence have tremendous importance in the daily lives of individuals.

The Place

An invironment to prosper
The country is located in the Mediterranean Sea, a short distance from Lebanon, Turkey, the Greek Islands and Egypt. Cyprus enjoys an idyllic Mediterranean lifestyle, beautiful beaches, 340 days of sunshine a year with welcoming friendly people in a relaxed environment. Cyprus is a safe country to live in. With its excellent flight connections and first class airports Larnaca and Paphos, the island is perfectly placed for business and travelling within and beyond the European Union.

Legal Conditions and Conditions of Use