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Cyprus Golden Visa - Residency By Investment Program

Overview of Cyprus Golden Visa - Residency By Investment Program

The introduction of the Cyprus Permanent Residency Permit Fast Track in 2013 aimed to draw foreign direct investment to the nation. Through property investment within the region, international individuals have the opportunity to acquire Permanent Resident Permits (PRPs) without undergoing the extended procedures typical of regular immigration protocols. This initiative enables the acquisition of permits within a mere two-month period, establishing it as one of the swiftest and most uncomplicated investor visa schemes in Europe.

How to obtain Cyprus Golden Visa

Real Estate Investment

To qualify for the Cyprus Investment Programme through real estate investments, you must purchase at least EUR 300,000 (excluding VAT) in a new residential property (or two properties).

A married couple can invest in two different properties, one of which is residential, from the same developer, provided that the combined value exceeds €300,000 and that the properties pertain to certain conditions.

The applicant can later rent out the property as a source of income.

Why Choose Cyprus?

Tax Advantages: Cyprus provides permanent residents with an exceptionally advantageous tax environment, including no global income, inheritance, or property taxes and an incredibly low corporate tax rate of 12.5%.
High Quality of Life: Cyprus is a stunning Mediterranean island nation boasting a gorgeous Mediterranean climate, exquisite beaches, rich history and culture, high standards of living (with excellent healthcare, education, infrastructure, etc.), as well as outstanding infrastructure (especially water supply and drainage systems).
EU Membership: Cyprus is a member of the European Union, giving permanent residents freedom of movement within its borders. They may reside, work, study, and travel freely across its member countries.
Stable Economy: Despite challenges, Cyprus has maintained a relatively stable economy and financial system. This stability provides a secure environment for investment.
Skilled Workforce: The country boasts a well-educated and skilled workforce, contributing to the productivity and efficiency of businesses operating there.

Cost of living in Cyprus

Cyprus in 2023 typically offers lower costs of living compared to other European nations. However, costs can differ depending on your lifestyle and location. Here is a breakdown of some of the expenses that should be anticipated.

Rent

Renting in Cyprus is generally cost-effective compared to other European countries. A one-bedroom apartment located within the city center will typically range between EUR500-EUR800 monthly; cheaper options can often be found in smaller towns or suburbs.

Food

Groceries for one person should cost between EUR20-EUR30 daily. Dining out costs between EUR15-20 at mid-range restaurants.

Utilities

Utilities in Cyprus are also relatively affordable. Electricity, water, and gas bills typically range between EUR100-EUR200 monthly for a one-bedroom apartment.

Transportation

Transportation costs in Cyprus can vary depending on how you decide to get around. Public transit can be relatively inexpensive; an annual pass for public transport typically runs around EUR30, while taxi rides from the airport into city centers often cost less than EUR25.

Entertainment, Personal Care and Healthcare Costs in Cyprus

Entertainment costs can be relatively cost-effective with movie tickets costing approximately EUR10 and beer at bars costing approximately EUR5. Personal care expenses are similarly affordable, with haircuts costing approximately EUR 15 per session, while gym membership fees range between EUR 40 – 50 monthly. Healthcare in Cyprus is provided universally and is free for both citizens and permanent residents.

Key Facts

Capital

Nicosia

Languages

Greek | Turkish | English widely spoken

Currency

Euro (EUR)

Population

1,260,138 (2024)

What are the eligibility criteria to apply for the Cyprus Golden Visa?

Minimum networth €300,000
No criminal record
Age 18 years old and above
No deportations / visa refusals

Cyprus Golden Visa Required Documents

Copy of all pages of passport for all family members (passport should be valid for at least 2 years)
Copy of birth certificates of children
Copy of marriage certificate
Health insurance policy
Detailed resume of main applicant (CV)
Police certificate for main applicant (issued from the country of origin)
Supporting documentation of a secured annual income from a legitimate source derived from outside of Cyprus. Details about such documentation when adding different dependents are to be communicated by Migrate World.
A statement of deposit showing a €30,000 minimum deposit in a Cypriot bank account, which will be held for a period of 3 years.
An official statement confirming that applicant does not intend to work in Cyprus. However, the applicant and/or his wife are entitled to be shareholders and receive income from the dividends of a company registered in Cyprus without affecting their application or permit (details to be communicated by Migrate World)
A declaration from the parents stating that they are willing to support dependent children over 18 years old
Registration certificate from an educational institution to prove that dependent children are in full time education
Signed client agreements

NOTE: The government of Cyprus might request additional documents and/or information not listed above.

How Many Dependents Can be Included in a Single Application?

The applicant seeking the Cyprus Golden Visa has the right to include not only their parents but also the parents of their spouse, along with dependent children up to the age of 25. For adult children, it is required that they are unmarried, pursuing higher education, and financially reliant on the applicant.

Starting investment for Cyprus Residency is € 300,000

"Obtaining Cyprus residence with Migrate World was quick and hassle-free. Their efficiency and expertise in navigating the process made all the difference. Highly recommend!"
– Ibrahim

"I chose Migrate World for Cyprus residence, and it was the right decision. Their team's guidance and efficiency surpassed my expectations. Now enjoying the beauty of Cyprus hassle-free.”
– Salim

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I have a minimum of $ 200,000 USD ready to invest.

Step by Step procedures and time frame for obtaining Cyprus Permanent Residency

Initial Consultation: A complimentary consultation with us where we explain all the different options available.
Preliminary Check: Migrate World performs a preliminary security check before officially making any agreement as a guarantee that the applicant’s record is clean from any case that the government might reject his/her application for.
Agreement and Fees: Fees include legal, due diligence, government, and application processing fees. Real Estate Investment Migrate World assists the investor in securing a qualifying property purchase worth €300,000 (excluding VAT) or more in Cyprus.
Collect Documents and Submit Files: We will help obtain/translate and authenticate all necessary documents. A file is then prepared and submitted to the Civil Registry and Migration Department.
Application Revision: The application is examined and reviewed, and a decision regarding the applicant’s approval is formulated by the Ministry of Interior within 2 months.
Permanent Residency Issuance: Once approval has been granted, the applicant must visit Cyprus within one year to obtain the actual permit card.

NOTE: The timeline is an estimate only, processing time depends on the complexity of each file.

How do I Avoid Mistakes When Applying for the Cyprus Golden Visa?

When embarking on the journey to obtain Cyprus residency, entrusting your application to a reputable migration agency like Migrate World can be the strategic advantage you need. Our seasoned experts are well-versed in the intricate details of the application process, ensuring meticulous adherence to the country’s stringent requirements. With a track record of successful outcomes, Migrate World offers personalized assistance, saving you valuable time and minimizing the risk of errors that could delay or hinder your application. As your dedicated partner, we not only simplify the complexities but also provide you with up-to-date insights, empowering you to make informed decisions.

Program Summary

Learn more about the country and it's citizenship by investment.

Similar Residence by Investment Programs

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Benefits of Cyprus Golden Visa

Processing time is approximately 2 months
Grants permanent residency that is valid for 10 years
No language requirement
No nationality restriction
Right to live and settle in Cyprus
Right to apply for EU citizenship after 7 years
Inclusion of parents of both the main applicant and spouse and dependent children up to the age of 25 (Adult children must be unmarried, attending higher education, and financially dependent on the applicant).

How can the Migrate World Help You?

Migrate World team offers essential support to clients pursuing the Cyprus Golden Visa. With expert guidance, personalized solutions, and thorough assistance in documentation, investment choices, application, due diligence, and post-approval steps, Migrate World ensures a smooth and successful journey toward obtaining Cyprus permanent residency. Clients benefit from their expertise, minimizing complexities and maximizing the likelihood of a favorable outcome.

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Malta Citizenship By Investment

Rest of the World
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Does Cyprus provide a Golden Visa?

Yes, Cyprus provides a golden visa. This program is available for investors who are willing to invest in real estate in Cyprus. As opposed to other EU residency programs, Cyprus is currently able to provide permanent, not temporary, resident permits to investors.

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Frequently Asked Questions

Can I buy a Cyprus passport?

Technically, a Cyprus passport cannot be purchased. However, investors can invest a minimum of €300,000 and gain permanent residency in the nation. They are eligible to seek citizenship and a passport from Cyprus after seven years of legal residence there.

Is Cyprus visa-free for UAE residents?

Yes, UAE nationals can visit Cyprus without requiring a visa

Do I qualify for the Cyprus Golden Visa if I have a clean criminal record?

Yes. The Cyprus Golden Visa program permits investors with clean criminal records to apply, though investors must undergo a criminal background check during their application process. If an investor does have an arrest record, however, he or she may still qualify if they can show that conviction is irrelevant to applying for the Golden Visa program.

Can I apply for the Cyprus Golden Visa if I do not reside in an EU country?

Yes, anyone who meets the eligibility requirements may apply for the Cyprus Golden Visa program. It is open to citizens of non-EU nations as well.

How long does it take to obtain a Cyprus Golden Visa?

The processing time for Cyprus Golden Visa applications is approximately 2 months.

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Cyprus Golden Visa - Residency By Investment Program

Overview of Cyprus Golden Visa - Residency By Investment Program

How to obtain Cyprus Golden Visa

Why Choose Cyprus?

Cost of living in Cyprus

What are the eligibility criteria to apply for the Cyprus Golden Visa?

Cyprus Golden Visa Required Documents

How Many Dependents Can be Included in a Single Application?

Starting investment for Cyprus Residency is € 300,000

Step by Step procedures and time frame for obtaining Cyprus Permanent Residency

How do I Avoid Mistakes When Applying for the Cyprus Golden Visa?

Similar Residence by Investment Programs

Benefits of Cyprus Golden Visa

How can the Migrate World Help You?

Similar Citizenship by Investment Programs

Does Cyprus provide a Golden Visa?

Schedule a meeting with us

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