THE CYPRUS PERMANENT RESIDENCY SCHEME
Cyprus offers an attractive Permanent Residency Scheme, issuing permanent residency rights on the island – and easy access to the rest of the EU by extension – to qualifying non-EU individuals in exchange for specific investment requirements.
Applicants may receive permanent residency upon purchasing a minimum of €300.000 + VAT on immovable property in Cyprus. The purchase may be completed via one new property or two new properties from the same developer with a total price of €300.000, excluding VAT.
The issuance of Cyprus Permanent Residence Permit is completed within approximately two months and covers all family dependents, including children under 25 years old.
The Cyprus Permanent Residency Scheme offers the following advantages:
- Issued within 2-3 months
- Lifelong residency is guaranteed (no need for prolongation processes)
- Qualifies for all family dependents including children
- There is no obligation to reside in Cyprus for at least 3 months a year (as is the case in other EU countries with similar schemes). You must visit Cyprus just once every two years
Rey Properties offers a carefully selected portfolio of qualifying properties and fully manages the application process required to obtain a Permanent Residence Permit in Cyprus.
CYPRUS EU CITIZENSHIP BY INVESTMENT
Under the new investment plan, investors can now obtain a Cypriot Passport / EU Citizenship through a stand-alone application, by investing a minimum of €500,000 in residential real estate – to be registered as the applicant’s formal permanent residence – and an additional €2 million in any form of real estate. The additional investment of €2 million may be for the purchase and/or construction, and/or creation of developments such as commercial projects and/or development in the tourist sector and/or other infrastructure projects.
The spouse of the investor has the right to apply for the citizenship simultaneously with the investor. The children of the investor are entitled to apply for the citizenship but their applications are submitted after the investor has acquired the Cypriot citizenship.
The applicant’s parents are also entitled to apply for a Cypriot Passport / EU Citizenship by exception, provided that they own a lifetime residence of at least €500.000 (excluding VAT). The application is submitted after the investor has acquired the Cypriot citizenship.
The adult children of an investor are considered as financially dependent if they are students up to the age of 28 and are attending an institution of higher education aiming to obtain a diploma or an undergraduate degree or a master’s degree.
Rey Properties has an extensive portfolio of properties ideal for the investment specifications, including income producing properties, VAT-free properties, sea view villas and luxury flats. We are committed to assisting you throughout the entire residency process and will ensure timely issuance of all documents and passports for all family members.