Permanent Residence in Cyprus
Cyprus Permanent Residency
An enhancement of the Programme has been long now expected and we are glad that this way the Government is showing its intention to support foreign investments and retain the Cyprus PR Program for the long run in order to support the economy.
In summary, the changes introduced are as follows:
- The most important and positive amendment is that the requirement for the applicants to have a personal bank account in Cyprus and set up a fixed deposit of EUR 30.000€ for 3 years has been abolished.
- The new Programme is including other investment options to the investors in addition to the option of residential real estate. The new investment options are as follows:
- Investment in real estate (residential units) of at least EUR 300.000€ plus VAT (new units only). The investors may purchase up to two units.
- Investment in real estate (except for residential units), such as offices, shops, hotels or similar developments or a combination of the aforementioned, of at least EUR 300.000€
- Investment in share capital of a Cypriot Company with activities and staff in Cyprus of at least EUR 300.000€
- Investment in shares of a Cypriot Undertaking for Collective Investments (such as AIF, AIFLNP, RAIF) of at least EUR 300.000€.
The new criteria are in effect as from today.
** Remote applications are still being received and applications are being approved before the clients need to Visit Cyprus - for more information on our Remotes buying process please contact us
Please do not hesitate to Contact us for more details of investments in real estate in Cyprus