Buy a brand-new house or apartment from a development company
- Property Purchase
- Permanent Residency
- Cyprus
Permanent Residency in Cyprus through Investment
The Cyprus Permanent Residency Program (Golden Visa) offers eligible individuals and their families the opportunity to reside indefinitely in Cyprus in exchange for an investment of at least EUR 300,000 in real estate.
The following criteria apply to investors looking for a Cypriot permanent residence permit (PRP):
Register sales agreement at the Land Registry
Pay at least €200.000 plus VAT from the total amount
Provide supporting evidence of secure annual income from abroad of at least €30,000. For a spouse and dependent children included in the application, an additional €5,000 per person must be added to this amount and €8,000 for each parent of the main applicant or their spouse.
Maintain a 3-year fixed deposit with a Cyprus bank of at least €30,000 transferred from abroad
Investors with Cyprus Permanent Residency are not required to move to Cyprus, they can visit an island at least once in 2 years.
About Cyprus
Cyprus is situated in the eastern part of the Mediterranean Sea as its third-largest island and connects Europe, Asia, and Africa. Cyprus is a doorway between West and East due to its’ location, educated English-speaking population, moderate cost of living, good airline and port service and great telecommunications. Cyprus’s high-income economy is classified amongst the 32 advanced economies of the world. The region has a rich history and the impact of the greatest civilizations. Cyprus enjoys a pleasant Mediterranean climate of long dry summers and mild winters. Cyprus is best known for its sunshine-packed coastal beaches, plus the island is also blessed with some stunning mountain ranges.
Benefits of Cyprus Permanent Residence
for Golden Visa Holders
No requirement to reside in Cyprus
You and your family are allowed to live in Cyprus without any limitation to how long you can stay. As a matter of fact, there is no minimum stay requirement either.
Permanent residence of the whole family
Along with the investor, all the close relatives including the spouse, children under the age of 18, and parents of both the applicant and the spouse can also receive and have the benefits of a Cyprus Golden Visa.
Access to modern and effective social benefits
Residents of Cyprus can take advantage of high-quality healthcare and educational services including universities, schools as well as hospitals, and clinics. It is obvious that these services are subject to charges.
Favorable tax system
There is no tax on global income, inheritance, and property. The corporate tax rate is 12.5%, one of the lowest in Europe.
Opportunity to rent out the investment property
Cyprus Golden visa holders have the option to rent out their purchased residential or commercial investment property and receive income in euros. Besides, the income will be increased when the residential properties are leased daily. In other words, investors can take the profit out of their investment along with obtaining a Cyprus residence permit.
A prospect of becoming a Cyprus citizen
Permanent residents are eligible to apply for citizenship after Five years of residence with consideration of their condition and providing the required documents based on the law.
Process and Timeline
1.
Along with the applicant’s condition, we ask for the required documents. All the documents need to be translated into Greek or English. Regarding the applicant’s nationality, they also need to be apostilled or legalized by the Consulate of Cyprus in their home country or the Embassy of Cyprus.
2.
We plan a trip to Cyprus to visit the available properties in person. Based on the applicant's nationality, it may be necessary to apply for a visa to enter Cyprus.
3.
In line with our rapid real estate investigation, our experts will advise you on the most legitimate and convenient investment options based on your desire.
4.
Before proceeding with the residence application, the applicant is required to open a local bank account and get the tax number.
5.
All the relevant documents will be collected under the supervision of our lawyers, and they need to be officially translated. In this step, all the property documents will be checked, and the purchase agreement contract will be arranged. Eventually, the property title deed will be issued in the name of the applicant.
6.
Once the applicant meets all the requirements, all the supporting documents will be submitted to the Civil Registry and Migration Department. No physical presence or interview is required during the application process.
7.
Once the application is approved, the applicant and their dependents will be invited to enter Cyprus and do their biometrics through the immigration certificate; in consequence, there is no need to re-apply for a visa to enter Cyprus.
8.
Permanent residence cards will be issued.
Turkey office
0090-552-6309000 (Whatsapp)
0090-552-7309000 (Whatsapp)
Turkey Address : Unit 1106, 11th floor, Nurol tower, Izzetpaşa Mah., Mecidiyeköy, Şişli, Istanbul, Turkey
Postal code : 34381
Greece office
+30-697-476-0777 (Whatsapp)
13 Possidonos Ave., Alimos 17455, Athens, Greece
Postal code : 17455
United Arab Emirates
00971-562-88-33-00
Level 3.The office 3. one central. Dubai World Trade Centre
Email⁚ coo@baltoji.com
White bird group is a team of professionals with more than 10 years of experience providing services in the area of residence and second citizenship planning, financial planning and tax consulting.
