Cyprus, an island nation located in the Eastern Mediterranean, offers a perfect blend of rich cultural heritage, strategic geographical location, and a favorable business environment. Known for its high quality of life, excellent healthcare, and stunning landscapes, Cyprus is a member of the European Union, providing easy access to both European and Middle Eastern markets. With its attractive tax regime and investor-friendly policies, Cyprus has become a popular destination for individuals and families seeking residency through investment, offering a stable and prosperous environment for both living and business.
Criteria for Qualification
To qualify for the Cyprus Residency by Investment Program, applicants must meet the following criteria in addition to making a qualifying investment:
- Character and Conduct: Applicants must demonstrate good character and have no criminal record.
- Criminal Record: All applicants must provide a clean criminal record from their country of origin and any country where they have resided in the past 5 years.
- Health: Applicants must be in good health and provide proof of health insurance for themselves and their dependents.
- Income Requirements: Applicants must show an annual income of at least €50,000 from sources outside Cyprus, with an additional €15,000 for each dependent adult child or parent and €10,000 for each minor child.
- Due Diligence: The application is subject to strict due diligence procedures to verify the legality and source of the funds being invested.
Why Choose Cyprus?
Cyprus offers a high quality of life, strategic access to both European and Middle Eastern markets, and a favorable tax regime, making it an appealing destination for investors. Here are the primary benefits of the Cyprus Residency by Investment Program:
- Fast Processing Time: The residency permit can be obtained within 6-8 months, offering a swift route to permanent residency.
- No Physical Residency Requirement: Investors are not required to live in Cyprus to maintain their residency permit, although they must visit the country at least once every two years.
- Family Inclusion: The residency program allows the inclusion of the investor’s spouse, dependent children of any age, and dependent parents.
- Strategic Location: As a member of the European Union, Cyprus offers excellent access to both European and Middle Eastern markets.
- Low Taxation: Cyprus has one of the most favorable tax regimes in Europe, with no inheritance tax and low corporate tax rates, making it attractive for businesses and individuals alike
Application Process and Validity
- Processing Time: The application for Cyprus residency typically takes between 6-8 months.
- Validity: The residency permit is valid for 5 years and can be renewed upon expiry, provided the investment is maintained and the applicant continues to meet the income requirements.
Investment Options
Applicants can choose from one of the following qualifying investment options to obtain permanent residency in Cyprus
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- Minimum investment: €300,000 (plus VAT) in residential or commercial property, or land development projects.
- The property must be new and purchased from a developer.
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- Minimum investment: €300,000 in a Cyprus-based company that employs at least 5 Cypriot citizens.
- The company must contribute to the economic development of Cyprus.
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- Minimum investment: €300,000 in Cyprus-registered AIFs or financial assets in Cyprus-based companies.
- The AIF must be registered and regulated in Cyprus.
Updated yearly, the Arton Index is an overall assessment and comparative benchmark of the country and its investment program.
1,205,575
Population Growth: 1.38%
34,400 USD
GDP (per capita)
GDP (purchasing power parity)
29.26 billion USD
170
Visa free countries
LOCATION
South Eastern Europe, island in the Mediterranean Sea
CAPITAL
Nicosia
DIFFERENCE
UTC+2
TOTAL AREA
9,251 sq. km.
AGE DEMOGRAPHICS
0-14: 15.58%, 15-24: 14.37%, 25-54: 46.99%, 55-64: 11.26%, 65+: 11.8%
LANGUAGE
Greek (official): 80.9%, Turkish (official): 0.2%, English: 4.1%, Romanian: 2.9%, Russian: 2.5%, Bulgarian: 2.2%, Arabic: 1.2%, Filipino: 1.1%, Other: 4.3%, Unspecified: 0.6%
RELIGIONS
Orthodox Christian: 89.1%, Roman Catholic: 2.9%, Protestant/Anglican: 2%, Muslim: 1.8%, Buddhist: 1%, Other (includes Maronite, Armenian Church, Hindu): 1.4%, Unknown: 1.1%, None/Atheist: 0.6%
GOVERNMENT TYPE
Republic of Cyprus: presidential democracy
CURRENCY
Euro (EUR)
EXCHANGE RATE
1 USD = 0.9214 EUR