Cyprus

About Cyprus

Cyprus is an independent island country located in the eastern Mediterranean Sea, west of Syria and south of Turkey. It is the third largest island of the Mediterranean. Cyprus was once named the fifth most favorable country to live in. The island provides a perfect climate for summer holidays with an estimation of 300 sunny days each year. It has a hot and dry summer with a gentle coastline and clear sea. In 2008, European nations experienced severe downturn in economy. Since then, Cyprus launched a €300,000 business migrant policy in August 2012. From March 2014 onwards, Cyprus launched a €2 million special residence permitted scheme. Until 31 October 2016, the Cyprus government amended the immigration law that allows getting a EU passport through investing €2 million to purchase property in Cyprus.

Immigrate Conditions

A. Cyprus permanent residency scheme (invest €2,000,000)
Cyprus allows non-EU family to invest €2 million in property market as a condition to apply for permanent residency in as fast as two months. Permanent residency can be granted after half a year which then makes the applicant eligible to apply for a passport. Cyprus passport holders enjoy free visas to 157 countries, including most European regions.

Proposal 1:

• Invest €2 million in multiple residential properties and owned for not less than 3 years.
• Applicant are required to retain any unit value not less than €500,000 in order to keep the Cyprus passport. Other properties are allowed to be sold.
• Donate 150,000 Euros to government agencies.

Proposal 2:

• Invest €2 million in one residential property and owned for not less than 3 years.
• If the applicant wishes to sell the property, another residential unit value for not less than €500,000 must be purchased in order to keep the Cyprus passport.
• Donate 150,000 Euros to government agencies.

Proposal 3:

• Invest €2 million in multiple commercial residence buildings, or commercial real estate plus a residence unit which values not less than €500,000 and owned for at least 3 years.
• Residence unit of value for at least €500,000 must be kept.
• Donate 150,000 Euros to government agencies.

* * To keep the Cyprus passport, the legislative Consulate requires the applicant to own a residence estate of value not less than €500,000. If the applicant intends to sell his original investment property, another real estate of the same amount is required to be purchased as an exchange.

Qualifications:

• Principal applicant must be 18 years old or above,
• No criminal records
• Purchase family medical insurance

Family sponsorship:

• your spouse
• unmarried child under the age of 18
• dependent child of the age 18 –27 who is unmarried (require “School Attendance Certificate”)
• The main applicant’s parents, who are retired and financially dependent on the applicant

Processing Time:

• Cyprus passport is available as quick as 2 months

B. Cyprus permanent residency scheme (invest €300,000)
From August 2012, Cyprus has allowed non-EU families to invest €300,000 in property in order to apply for a permanent residency permit. Applicants can further apply for a Cyprus passport after fulfilling 5 –7 years of residency.

Proposal:

• Invest €300,000 in property estate under the name of applicant.
• Require both applicant and spouse to own property of €300,000 and provide proof ( sum of saving, estate, stocks).
• After receiving permanent residency permit, applicant is required to present income proof annually (applicant income reach €12,000 or each family member income reach €5,000).

Qualifications:

• Applicant is at least 18 years old
• No criminal records
• Owned €30,000 deposit in Cyprus
• Purchase family medical insurance
• Ensure oversea income is at least €30,000 per year. If there is a sub-applicant, additional €5,000 is needed

Family Sponsorship:

• Unmarried child below age of 18
• Dependent child aged 18 –25 who is a full –time student
• Parents of applicant can apply for long term residence visa

Residence Requirement:

• Visit Cyprus once every two years.

Processing Time:

• Permanent residency permit is available as quick in 4–6 months, Can apply for Cyprus passport after fulfill residence of 6 years.

Immigrate Advantages:

• No requirements on education and entrepreneurship; Allow dual nationality, applicant can retain origin identity; Allow renting out of invested property, which is a freehold estate;157 countries visa free; Freely travel to EU nations for business and trip; Free medication; British education system conjuncts to Britain universities and other EU constitutions; Would be able to join SchengenArea in short period of time; Low tax rate, oversea duty-free, no inheritance tax

Required Documents

1. 2 color photos
2. Passport ( Full-page copy)
3. Marital Certificate
4. Birth Certificate
5. No criminal Record (Applicable to applicant above 16 years of age)

Procedures

• Free consultation, preliminary assessment and data collection; Contract signing & pay deposit
• Invite and inspect approved properties in Cyprus,open a bank account,meet up with lawyer.
• After the trip, remit to Cyprus bank account for payment of property.
• Local Lawyer proceed migrant and property application.
• PlanA
  - The Immigration Bureau issues an immigration notification letter for an immigration application, and an approval letter is issued in about 6 months.
  - The main applicant and his/her spouse apply for Cypriot citizenship.
  - After the main applicant obtains the nationality, his/her children and parents can apply for the nationality.

  Plan B
  - The Immigration Bureau issues an immigration notification letter for an immigration application, and an approval letter is issued in about 2 months.
  - The whole family goes to the Judicial Immigration Bureau to make an appointment for permanent residence procedures.
  - 7 years later, you can apply for Cypriot passport; or if the main applicant invests up to 2 million euros, he/she and his/her family members can apply for citizenship (approved after 6 months).