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FAQ on Permanent Residency in Cyprus by Investment

FAQ on Permanent Residency in Cyprus by Investment

Updated on Monday 14th August 2017

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faq-on-permanent-residency-in-cyprus-by-investment.jpgRelocation in Cyprus has been made much more attainable through the recently introduced procedures for obtaining the permanent residency which were simplified. Therefore, the country was able to attract more foreign investments. 
 
In this article, our lawyers in Cyprus answer some of the most frequently asked questions about the permanent residency in Cyprus by investment.
 

1. What is the permanent residency in Cyprus through investment?

 
The permanent residency in Cyprus through investment is an alternative way to obtain the Cypriot permanent residence by investors and their families.
 
This type of permanent residency is regulated by the provisions of the Regulation 6(2) of the Aliens and Immigration Regulations. Our Cypriot lawyers can provide further information on these regulations.
 
It is obtainable for individuals who wish to invest in the country with an amount which is much lower than that required for the Cypriot citizenship, if certain criteria are met.
 

2. What are the criteria required for the permanent residency by investment?

 
The criteria required to obtain the permanent residency in Cyprus by investment are:
 
Applicants must invest in real estate in the country;
The investment has to be of only EUR 300,000 in market value. Our Cypriot lawyers can offer more details on this matter;
The investment can be made by a business owned by the applicant and his or her spouse;
The investment can be in maximum two properties if they accumulate the amount required for this type of residency;
The properties bought by the applicant have to be new.
 

3. Does the applicant have to be present in Cyprus before applying for the permanent residency by investment?

 
The applicant of the permanent residency by investment in Cyprus does not have to be present in the country.
 
The application for such permanent residence may be processed without the applicant being physically in the country on his or her behalf through a power of attorney issued by the person in question in the name of our attorneys in Cyprus.
 
Do you have more questions about the Cyprus permanent residence by investment? Please contact our law firm in Cyprus.

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