Cyprus | Citizenship and residency for investment

Cost of investment: from 300 000 EUR

Permanent residence in Cyprus for investment can be obtained by buying real estate or securities of the country, or by opening a business and investing in it from 300 000 EUR.

Permanent residence holders may not pay taxes on foreign income, including from dividends and capital gains. The country also has no inheritance tax, low income and property tax rates.

The jurisdiction of Cyprus is one of the best places to transfer the tax residency of an international business or open a new company. The corporate tax rate in the country is only 12.5%.

After 5 years of living on the island, you can apply for Cypriot citizenship, and after another 2 years, get citizenship and a passport of Cyprus and travel without visas to 170+ countries of the world, including the European Union and the UK.

About the country

Processing time:

2 - 3 month

Time to citizenship:

7 years

The Republic of Cyprus joined the European Union on 1 May 2004 and the Eurozone on 1 January 2008. Cyprus is famous for its idyllic Mediterranean lifestyle, the freshest seafood, beautiful beaches, 340 days of sunshine a year and friendly people.

Cyprus offers a high standard of living, modern transport and infrastructure, excellent educational institutions, access to quality medical services, a stable government and a solid legal framework based on British law and fully aligned with EU directives. Cyprus is a favorite business location for international companies due to its strategic geographic location between Europe, the Middle East and Africa.

GET ALL THE ADVANTAGES THAT THE PROGRAM OFFERS

Simple living requirements - it is enough to visit Cyprus once every two years

Permanent residence can be obtained by the spouse (s) and children under 25 years old

The status of permanent residence in Cyprus is obtained for life.

It is only necessary to visit the island once to submit biometric data - after obtaining permanent residence

About 80 thousand Russians live in the country, there are shops with the usual products, kindergartens and schools with Russian as the language of instruction, and restaurants of Russian cuisine.

Life in the Mediterranean - mild climate, beautiful beaches and sun 320 days a year

After 7 years, the owner of the PR-card can obtain citizenship of Cyprus and travel without visas to 170+ countries of the world, including the European Union and the UK

Safe high-yield investment, with the prospect of income from the rental of real estate

Unlike many other immigration programs for investors, permanent residence holders in Cyprus can buy a share in a local business, open their own companies or transfer islands operating to the jurisdiction.

Favorable tax regime - no taxes on income in other countries, income tax and income tax. No inheritance tax

Cyprus for life

COST

An investor can choose from several investment options in the amount of EUR 300,000: invest in residential or commercial real estate, shares of Cypriot companies or shares of local investment funds.

If the applicant has chosen to invest in commercial real estate, then he will still need to buy or rent a property on the island. There are no space or cost requirements.

Investments can be returned only after the expiration of the permanent residence or after obtaining citizenship.

Option 1. Purchase of residential property:

An investor can buy one or two primary properties for a total amount of EUR 300,000 plus VAT. The standard VAT rate is 19%, but when buying a single home for your own residence, it is reduced to 5%. It is not possible to invest in resale property.

	One investor	Married couple	Family of 3 or more people
Purchase of residential property	From EUR 300 000	From EUR 300 000	From EUR 300 000
VAT (19%, for a single residence - 5%)	From EUR 15 000	From EUR 15 000	From EUR 15 000
Income verification	From EUR 30,000 per year	From EUR 35,000 per year	From EUR 40,000 per year + EUR 5,000 for each family member, starting from the fourth + EUR 8,000 per parent
Due Diligence	EUR 15 000	EUR 25 000	EUR 25 000 + EUR 10,000 for each family member over 12 years old
Registration fees	From EUR 70	EUR 140	EUR 210 + EUR 70 for each family member, starting from the fourth
Medical insurance	From EUR 2,000 per year	From EUR 4,000 per year	From EUR 6,000 per year + EUR 2,000 per year for each family member, starting

Option 2 Purchase of commercial property:

An investor can buy one or two commercial properties for a total amount of EUR 300,000 plus VAT. Primary or secondary market, it doesn't matter. Such objects can be, for example, offices, shops, hotels, or a combination of them for an amount of at least EUR 300,000.

	One investor	Married couple	Family of 3 or more people
Purchase of commercial real estate	From EUR 300 000	From EUR 300 000	From EUR 300 000
VAT (19%)	From EUR 57 000	From EUR 57 000	From EUR 57 000
Income verification	From EUR 30,000 per year	From EUR 30,000 per year	From EUR 40,000 per year + EUR 5,000 for each family member, starting from the fourth + EUR 8,000 per parent
Legal support of the transaction	1% of the transaction amount	1% of the transaction amount	1% of the transaction amount + EUR 500 for each additional face
Administrative fees	EUR 500	EUR 500	EUR 500 + EUR 500 for each child from 18 to 25 years old and parents of spouses
Registration fees	From EUR 70	EUR 140	EUR 210 + EUR 70 for each family member, starting from the fourth
Medical insurance	From EUR 170 per year	From EUR 380 per year	From EUR 380 per year + EUR 100 per year for each family member, starting from the fourth

Option 3 Shares of Cypriot companies:

Equity investment in a Cypriot company that conducts business and employs at least 5 people in Cyprus.

Option 4 Purchase of securities:

Investments in units of the Cyprus Collective Investment Organization in the form of AIF, AIFLNP, RAIF.

	One investor	Married couple	Family of 3 or more people
Investments to choose from: 1. Shares of local companies 2. Shares of local investment funds	From EUR 300 000	From EUR 300 000	From EUR 300 000
Income verification	From EUR 30,000 per year	From EUR 35,000 per year	From EUR 40,000 per year + EUR 5,000 for each family member, starting from the fourth + EUR 8,000 per parent
Administrative fees	EUR 500	EUR 500	EUR 500 + EUR 500 for each child from 18 to 25 years old and parents of spouses
Registration fees	From EUR 70	EUR 140	EUR 210 + EUR 70 for each family member, starting from the fourth
Medical insurance	From EUR 170 per year	From EUR 380 per year	From EUR 380 per year + EUR 100 per year for each family member, starting from the fourth

Objects for investment

All objects

Agnades Village 1 Polis

Cost of investment: From EUR 500 000

To the object page

Elegant View Paphos

Cost of investment:

To the object page

Park Avenue Residences Paphos

Cost of investment: From EUR 766 000

To the object page

Pelagos Beachfront Villas Paphos

Cost of investment: From EUR 900 000

To the object page

Onero Residences Paphos

Cost of investment: From EUR 180 000

To the object page

Venus Rock Golf Resort Premier

Cost of investment:

To the object page

Pearl Park Residences Paphos

Cost of investment:

To the object page

Calma Beachfront Villas Polis

Cost of investment:

To the object page

Primrose Seaview Apartments Paphos

Cost of investment:

To the object page

Galaxy Residences

Cost of investment:

To the object page

Requirements for candidates

The minimum age is 18 years
No criminal record
The absence of pending visa denials to countries with which Cyprus has a visa-free regime

PROCEDURE FOR OBTAINING CITIZENSHIP

Our goal is to simplify the collection of documents as much as possible. After evaluating a specific case, a MIRBEZVIZ lawyer prepares an individual checklist of documents for you.

1

Preliminary check

1 day

Due diligence is a mandatory step in any residency program for investors. It depends on its result whether the investor becomes a resident of the country.
2

Collection of documents

Up to 2 weeks

We will help you collect, translate and apostille documents, arrange medical insurance and conclude a real estate lease agreement. When everything is ready, we submit documents in Cyprus.

Main set of documents:

• A completed application form MIP1.

• Originals and copies of the valid passport of the applicant and his family.

• Biography of the main applicant.

• Declaration of income confirming an annual income of at least EUR 30,000.

• Investment confirmation.

• Confirmation of a permanent address in Cyprus.

• Declaration of absence of employment in the territory of Cyprus.

• Certificate of no criminal record from the applicant, wife or husband.

• Marriage certificate.

• Birth certificate.

• Medical insurance for the whole family.
3

Fulfillment of the investment condition

Up to several weeks

When buying a property, we submit documents to the Land Department of Cyprus, including an application to reduce the VAT rate to 5%. The investor transfers to the developer an amount of EUR 200,000 plus VAT.
4

Contacting the Cyprus Migration Service

1 day

Our representative submits all your documents to the Cyprus Migration Service .
5

Consideration of the application and obtaining permanent residence

2 months

The decision to grant permanent residence will be made within two months. Within a year after the approval of the application, the investor and his family must visit the island to submit biometric data and obtain permanent residence.
6

Additional services after obtaining permanent residence in Cyprus

After obtaining permanent residence in Cyprus, domestic issues will remain, you will have to communicate with banks, the migration service and other officials. We will help you get the necessary documents and make everything go smoothly.

We extend permanent residence

We will collect and submit the necessary documents, take over communication with officials.

Opening a bank account

We will help you choose a bank and prepare documents for opening an account.

Applying for tax residency

We send a request for tax resident status to the tax office after a standard stay in the country for more than 183 days a year or after 60 days for property owners who run a Cyprus company.

Obtaining permanent residence for family reunification

We will prepare the documents and submit an application if you want to transport your parents or close relatives to Cyprus.

Get a consultation

ACCESSIBLE WORLD

The status of a resident of Cyprus can be the first step towards obtaining a second citizenship. The Cypriot passport entitles you to visa-free entry to 173 countries of the world, including the EU and the UK.