6 Ways to Get Cyprus Residency By Investment Program

The Republic of Cyprus, located on the eastern side of the Mediterranean Sea, has a considerable economy in the European Union. While it is well-known for its high tourist appeal worldwide, it is also one of the best-performing countries in terms of Human Development. What more could an investor ask for? Cyprus ticks virtually all of the important boxes, and its Permanent Residence by Investment Program eliminates the one source of concern shared by all investors: administrative lags. The program’s provisions were changed in 2021 to improve the application procedure.

Cyprus Residency by Investment Program allowed foreign investors and their families to obtain residency in Cyprus by making a qualifying investment in the country. Please note that government programs and regulations might change, so it’s essential to verify the current requirements and conditions with official sources or reputable immigration consultants. Here are the general steps involved in the Cyprus Residency by Investment Program:

1. Eligibility: Ensure that you meet the program’s eligibility criteria, which may include having a clean criminal record, good health, and sufficient funds for the investment.

2. Investment Options: Choose one of the qualifying investment options:

a. Real Estate Investment: Invest a minimum of €300,000 in residential property. The property must be new and purchased from a development company.

b. Other Real Estate Investment: Invest a minimum of €300,000 in other real estate, such as commercial properties, hotels, or infrastructure projects.

c. Bank Deposits: Deposit €30,000 in a Cypriot bank account and maintain the deposit for at least three years.

d. Business Investment: Invest at least €200,000 in a Cypriot company that operates within Cyprus. The business should have a physical presence and employ at least five Cypriot or EU citizens.

e. Combination of Investments: You can combine the above options to meet the minimum investment threshold.

3. Application Process: Submit the necessary documents, including a clean criminal record certificate, health insurance, proof of investment funds, and any other required paperwork.

4. Approval and Residency: Once your application is approved, you will receive a residency permit, which allows you and your family to live in Cyprus. The residency permit is typically valid for two years and can be renewed as long as you maintain the investment.

5. Permanent Residency or Citizenship: After holding the residency permit for a certain number of years (usually five years), you may be eligible to apply for permanent residency or citizenship, depending on the specific program rules.

6. Seek Professional Advice: The process of obtaining residency through investment can be complex, so it is advisable to seek assistance from a reputable immigration consultant or lawyer who is familiar with Cyprus’ laws and regulations.

Remember to stay up-to-date with the latest requirements and changes in the Cyprus Residency by Investment Program to ensure a smooth application process.

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