Cyprus Golden Visa Program: Overview
The Cyprus investment program offers non-EU nationals a fantastic opportunity to obtain permanent residence in the country through investment.
Aside from obtaining permanent residence status, there are numerous benefits that come with this program, including favourable tax regimes for residents, access to high-quality education for dependent children, and a beautiful Mediterranean lifestyle with stunning beaches and rich cultural heritage.
To obtain Cyprus permanent residence, investors choose from four investment options, contributing at least €300,000[1]Cyprus Migration Department — Immigration Permits for Investors (Regulation 6(2)):
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Purchase of residential real estate.
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Purchase of commercial property.
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Buying shares in a Cypriot company.
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Purchase of securities.
Before you embark on the application, it's essential to have certain documents ready, such as your passport copy, criminal background check and CV. Besides, you must prove a secured annual income of at least €50,000 from abroad[1]Cyprus Migration Department — Immigration Permits for Investors (Regulation 6(2)).
Cyprus authorities do not publish a fixed processing time for Category 6.2 applications. Industry estimates put the fast-track route at around two months once the file is complete, though timing depends on case complexity[3]Koufettas Law — What Is Cyprus PR by Investment (Fast-Track 6.2)?.
Explore the benefits and drawbacks of the Cyprus investment program versus other Golden Visas
Сost of Participation in the Cyprus Golden Visa Program
The main applicant fulfils the conditions of one of the four investment options, contributing at least €300,000[1]Cyprus Migration Department — Immigration Permits for Investors (Regulation 6(2)) to the country's economy. Foreigners prefer buying real estate in Cyprus, such as residential properties from the developer or commercial premises.
The cost of obtaining permanent residence by investment in real estate includes VAT — 19% for the purchase of new properties, reduced to 5% on the first 130 m² of a qualifying primary residence valued up to €350,000[2]PwC Worldwide Tax Summaries — Cyprus Corporate Other Taxes, and a transfer fee of 3% to 8% of the property value when buying a resale property, waived where VAT has already been paid[4]Cyprus Department of Lands and Surveys — Calculation of Real Estate Transfer Fees.
Applicants also pay a €500 government administrative fee and a €70 fee for the Aliens Registration Certificate and residence card[5]Cyprus Migration Department — Immigration Permits (fees).
The investor shows financial solvency by confirming an income of at least €50,000 per year[1]Cyprus Migration Department — Immigration Permits for Investors (Regulation 6(2)). The minimal income increases depending on the family composition:
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€15,000 — for spouse;
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€10,000 — for minor children.
We compared investments in shares and stocks and evaluated the primary and extra costs for one person. Stocks and shares have the lowest cost, but they also carry a far bigger risk than investments in real estate. You can rent out real estate using the assets' passive income to eventually make up the cost difference.
Cost Comparison for One Person
Advantages of Cyprus Golden Visa Program
Cyprus has an excellent quality of life. The island nation offers beautiful beaches, sunny weather all year round, and delicious cuisine.
Most Cypriot citizens speak English, which makes it easier for immigrants to fit into society and run businesses smoothly.
Low crime rates , making it a safe place to live with children and doing business. You can enjoy peace of mind when your family and investments are secure.
Favourable tax regime . Cyprus offers a competitive corporate tax environment within the EU[6]PwC Cyprus — The Cyprus Tax Reform, alongside tax advantages for non-domiciled residents, including an exemption from the Special Contribution for Defence on dividends, interest and rental income[7]Cyprus Tax Department — Special Contribution for the Defence.
Unlimited residency. Once you obtain permanent residence, you'll receive a permanent residence card, allowing you to enter Cyprus and enjoy all the benefits of being a permanent resident.
Prospect to get citizenship. Cyprus Golden Visa holders may apply for citizenship only through standard naturalisation[8]Cyprus Ministry of Interior — Naturalisation by Years of Residence (Form M127). The Cypriot passport allows its holder to travel without visas to more than 170 countries, including the Schengen states, the UK and Canada, and live, work and study in any EU country freely.
If you're a non-EU citizen looking to obtain permanent residency or even Cypriot citizenship, the Cyprus Golden Visa program is an excellent option. The immigration process is straightforward, and you can gain residency by investing in residential property, Cypriot investment funds, or even Cypriot companies.
Cyprus offers a fantastic opportunity for non-EU citizens seeking permanent residency or citizenship in a safe, stable, and business-friendly environment within the European Union's jurisdiction.
Cyprus enjoys a pleasant Mediterranean climate of long dry summers and mild winters. The island has one of the warmest climates in the Mediterranean part of the EU
Application Process
Choosing an investment option
Immigration experts reveal the nuances of all investment types and advise the option considering investor wishes.
Immigration experts reveal the nuances of all investment types and advise the option considering investor wishes.
Collection of documents
Investors provise papers for personal identification and documents confirming the sources of the invested funds. The lawyer assists with medical insurance, real estate rental agreements, document translation and apostille, and other legal matters.
Investors provise papers for personal identification and documents confirming the sources of the invested funds. The lawyer assists with medical insurance, real estate rental agreements, document translation and apostille, and other legal matters.
Submitting the required documents
The applicant does not have to visit the island as agents in Cyprus can submit the documents. Cyprus authorities do not publish a fixed decision time for this route; the fast-track category is commonly estimated at around two months, though complex cases can take longer.
The applicant does not have to visit the island as agents in Cyprus can submit the documents. Cyprus authorities do not publish a fixed decision time for this route; the fast-track category is commonly estimated at around two months, though complex cases can take longer.
Application approval
The relevant government department issues a letter of approval of the application.
The relevant government department issues a letter of approval of the application.
Receiving a residence card
The investors must come to the island to submit biometrics. The Cyprus permanent residence card is issued about 40 days after biometrics.
The investors must come to the island to submit biometrics. The Cyprus permanent residence card is issued about 40 days after biometrics.
With all these steps completed, you'll be well on your way to obtaining permanent residence in Cyprus. It's essential to maintain financial stability and adhere to immigration requirements throughout the process.
For non-EU citizens, obtaining permanent residency in Cyprus offers a range of benefits, including the ability to gain residency in other EU countries, access to the island's jurisdiction, and the option to obtain Cypriot citizenship.
Cyprus offers a Golden Visa program that caters to wealthy individuals looking to invest in residential property, Cypriot investment funds, or Cypriot companies.
Conclusion
The Cyprus Permanent Residence Program offers wealthy individuals an opportunity to obtain residency through real estate, share capital investments or securities.
To obtain Cyprus permanent residence, investors choose from four investment options, contributing at least €300,000[1]Cyprus Migration Department — Immigration Permits for Investors (Regulation 6(2)).
The cost of obtaining permanent residence by investment in real estate includes VAT — 19% for the purchase of new properties, reduced to 5% for a qualifying primary residence[2]PwC Worldwide Tax Summaries — Cyprus Corporate Other Taxes, and a transfer fee of 3% to 8% when buying a resale property[4]Cyprus Department of Lands and Surveys — Calculation of Real Estate Transfer Fees.
The program's tax framework includes an exemption from the Special Contribution for Defence on dividends, interest and rental income for non-domiciled residents[7]Cyprus Tax Department — Special Contribution for the Defence, and capital gains tax that applies only to gains on Cyprus-situated immovable property[9]PwC Worldwide Tax Summaries — Cyprus Individual Other Taxes.
