Cyprus Residency by Investment

About Cyprus

An island country in the eastern Mediterranean Sea, Cyprus is strategically positioned at a crossroads between Europe, Asia, and Africa. Cyprus is a top tourist destination boasting beautiful beaches, nature, and history. Not only is Cyprus an ideal place for tourism, or residence known for their high standard of living and year-round sunny weather, but for businesses and investors too.

Cyprus is one of the fastest-growing economies in Europe known for its effective and transparent regulatory and legal framework along with favorable tax regimes. With the suspension of the Cypriot Citizenship by investment program, the residency program has become increasingly popular among investors. Cyprus offers a fast-track process to being a permanent residency in 2 months and eventual citizenship in 5 years if certain conditions are met.

Prime Minister:
Faiz Sucuoğlu

Government:
Presidential representative democratic republic

Economy:
Service-based

Currency:
Euro

Capital City:
Nicosia

Population:
Over 1.2 million

Language:
Greek, Turkish with English widely spoken

Members of:
European Union,United Nations,Commonwealth


Benefits

Please be advised the residents under the Cyprus Golden Visa program are not permitted to work in Cyprus, however, they can own shares in a Cypriot company and earn dividends.


Visa Free Countries

While Cyprus is part of the European Union, it is not part of the Schengen Area and thus applicants do not have free access to the Schengen Area through their Cypriot residency cards. The application is currently pending to become a member of the Schengen Area.


Eligibility

Applicants proceeding with the residency by investment program must be at least 18 years of age, hold a clean criminal record, and show proof of funds coming from abroad (not sourced within Cyprus). Applicants are required to provide personal documentation such as passports, national IDs, birth and marriage certificates as well as proof of investment.

Important notes:

  • Applicants must sign a sworn statement stating they will not see employment within Cyprus.
  • Cypriot residency can be revoked if applicants obtain permanent residency in another country.



Full Requirements Checklist


Investment Options

Investment of at least
EUR 300,000 in one
of the following

  • EUR 300,000 in property acquisition plus VAT
    • Maximum of 2 properties
    • Properties must be first-time sale-purchased directly from the developer
  • The share capital of a physical company registered and operating in Cyprus, which employs at least five people
  • Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF)

Bank
Deposit

  • 30,000 Euro investment in fixed deposit in a Cyprus bank for at least 3 years
  • Additional investment in fixed deposit for dependents:
    • Spouse: EUR 5,000
    • Children: EUR 5,000
    • Parents / grandparents: EUR 8,000

Proof of
Income

  • Investors must show proof of annual income of at least EUR 30,000
  • Additional proof of income for dependents:
    • Spouse: EUR 5,000
    • Children: EUR 5,000
    • Parents / grandparents: EUR 8,000

Addtional Fees


Process

1. Speak with one of our advisors to determine the best solution for you and your family. We will discuss the various residency options along with the process and investment options of each program. We offer tailored solutions to assist and meet your goals.

2. We will conduct our initial due diligence check to ensure that you do not currently hold any criminal charges and are eligible to proceed with the Cyprus Golden Visa program. To process the initial due diligence check, a copy of passports for all applicants over 16 and a copy of proof of address (such as a utility bill) are required.

3. Offshore Circle requires a non-refundable retainer to supply application forms and work on your application file.

4. Offshore Circle will assist in obtaining a Cypriot bank account, as well as fulfilling the preferred investment option. We will also provide a customized and itemized list of requirements to ensure you meet and comply with all requirements set by Civil Registry and Migration Department.

5. Offshore Circle will submit the application on the client´s behalf at the by Civil Registry and Migration Department for the initial review which will then be passed on to the Minister of Interior for final approval.

6. The typical processing timeframe is 2 months from the date of application. Upon approval, applicants are required to submit their biometrics.

7. Within a 1 year off approval (or any time during the application process), all applicants are required to attend the biometrics appointment in person in Cyprus and receive their permanent ID cards.

8. All applicants must visit Cyprus every 2 years for at least a day to maintain residency status.

Speak with one of our advisors to determine the best solution for you and your family. We will discuss the various residency options along with the process and investment options of each program. We offer tailored solutions to assist and meet your goals.

We will conduct our initial due diligence check to ensure that you do not currently hold any criminal charges and are eligible to proceed with the Cyprus Golden Visa program. To process the initial due diligence check, a copy of passports for all applicants over 16 and a copy of proof of address (such as a utility bill) are required.

Offshore Circle requires a non-refundable retainer to supply application forms and work on your application file.

Offshore Circle will assist in obtaining a Cypriot bank account, as well as fulfilling the preferred investment option. We will also provide a customized and itemized list of requirements to ensure you meet and comply with all requirements set by Civil Registry and Migration Department.

Offshore Circle will submit the application on the client´s behalf at the by Civil Registry and Migration Department for the initial review which will then be passed on to the Minister of Interior for final approval.

The typical processing timeframe is 2 months from the date of application. Upon approval, applicants are required to submit their biometrics.

Within a 1 year off approval (or any time during the application process), all applicants are required to attend the biometrics appointment in person in Cyprus and receive their permanent ID cards.

All applicants must visit Cyprus every 2 years for at least a day to maintain residency status.


Frequently Asked Questions


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