Cyprus Permanent Residency Visa - Cyprus Passport by Real Estate

Cyprus Passport By Real Estate :

Cyprus Permanent Residency Visa :

Background

The fast-track (Category F) permanent residence permit has been introduced in pursuance of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of Interior, having notified the Council of Ministers, has decided to issue an Immigration Permit to applicants from third countries who wish to invest in Cyprus provided they meet the requirements.

Financial Criteria & Conditions :

Minimum of €300,000 in property net of Tax

Can be one or two new properties.
Must be sold for the first time from the same development company.
At least 1 must be residential while the other one can be residential, a shop of a surface of up to 100sq.m. or an office of a surface of up to 250sq.m.
Payment must be a transfer from abroad to a Cypriot financial institution.

Create a long term deposit of €30,000

Minimum of €30,000.
Transferred from abroad to a Cypriot financial institution.
Must be pledged to a Cypriot financial institution for at least a three year period.

Secure annual income of at least €30,000

Investor must prove secure income over €30,000 per year from businesses outside of Cyprus.
Income may include salaries from employment, pensions, dividends from shares, fixed deposits, rents etc.
This requirement is increased by €5,000 for every dependent person.
This requirement is increased by €8,000 for every parent of the applicant.

Benefits of the Program :

The Permanent Residency VISA is forever

There is no need for renewal as long as the applicant still owns the property/ies worth €300,000 in Cyprus.

This VISA allows the holder to travel to Cyprus

No extra documentation is required.

The whole family can be issued the Permanent Residency VISA

Married couples, children under the age of 18 and parents of the applicants are also eligible for the PR VISA.
Unmarried children between the ages of 18 and 25, provided they are students or undergraduates and are financially dependent on the applicant. The VISA permit is still valid even if the holder has exceeded the age of 25 years old.

Property can be replaced

The investor can sell his/her property and still keep the VISA as long as he/she replace the property with another worth at least €300,000.

The VISA is issued within 2 months

Swift and simple procedure

DOCUMENTS :

Main Applicant

Valid passport
Original letter from a financial institution in Cyprus of a deposit of €30.000, pledged for three years
Declaration of a secured annual income from abroad of €30.000 at least
Title of ownership or contract of sale of a built property in Cyprus of a minimum market value of €300.000 - If the title of ownership has not been obtained yet, the applicant must submit the contract of sale duly stamped and proof of payment of at least €200,000.
Detailed biography (CV)
Official statement of no intention to work in Cyprus
Health insurance policy
Clean criminal record

Spouse, Children and Parents (if applicable)

Health insurance
Marriage Certificate
Birth Certificates
Required documents for dependent children age 18-25
Valid passport
Detailed biography (CV)
Official statement of no intention to work in Cyprus
Letter of enrollment at tertiary education
Documents issued by a foreign authority should be translated to either English or Greek and duly authenticated