Residence by investment programmes are becoming increasingly popular. And for a good reason—these programmes offer several benefits, including visa-free travel, living and working in the country of choice, and more. Cyprus, in particular, has an excellent residence by investment programme worth considering.
The Cyprus Permanent Residency (Fast Track) Programme grants the right to live in Cyprus to Non-EU nationals and their family members (subject to conditions). It is valid for life. A visit every two years is required to maintain Cyprus Permanent Residency and fulfil investment criteria.
Endevio assists in the fast-track residence procedure and can help you navigate the process and take advantage of all Cyprus offers.
Eligibility Requirements for Cyprus Residence by Investment
To qualify, the applicant must:
- Be over 18 years old
- A third-country national
- Have a clean criminal record
- Have good character
- Invest in any of the required investment options
Financial Requirements for Cyprus Residence by Investment
The applicant must invest a minimum of €300,000 (plus VAT where applicable) in either:
- House/apartment (first sale and from a real estate developer).
- Other immovable property (office, shop, hotel, or mix) can be new or resale.
- Investment in the share capital of a Cyprus company employing at least five persons.
- Investment in Cyprus fund (AIF, RAIF, AIFLNP).
- To maintain a three-year fixed deposit with a Cyprus bank of at least €30,000.
The applicant must also provide evidence of secured annual income of at least €30,000, originating from abroad (increased by €5,000 for each dependent included in the application and €8,000 for each parent of the main applicant and/or spouse).
Timeframe for Cyprus Residence by Investment
Approval for Cyprus residence by investment is granted approximately two months after submission of the application. The minimal residence requirements include visiting Cyprus once every two years.
