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Cyprus (EU)

Permanent Residency Program by Property Investment : Cyprus

Become an EU PR under 90 days

Cyprus Residency by Investment

Cyprus is an attractive place to reside, with a warm and stable climate and a convenient geographical position in the eastern Mediterranean. The fast-track (Category F) permanent residence permit has been introduced by Council of Minister's decision in May 2013. This procedure (based on the provisions of Regulation 6(2) of the Aliens and Immigration Regulations), enables the granting of a permanent residence permit to foreigners who intend to invest in the Republic provided that the following requirements are met:

  • Residential or other property with minimum market value of EUR 300,000 purchased in Cyprus.
  • Secured annual income from abroad and from sources other than employment in Cyprus.
  • Funds transferred from abroad and deposited in a Cyprus Bank in a three year Fixed Deposit Account. The residence permit holder must visit Cyprus at least once every two years to maintain his status.
CYPRUS
Benefits of the program:
  • An express procedure to get PR within 90 days*
  • Once Cyprus enters the Schengen zone (expected in 2016), Cyprus permanent residence (PR) permit holders will have the right to travel freely in the zone.
  • Eligibility is not limited to the investor, primary applicant only, but also to his immediate family. Minor children (up to the age of 18) are getting the permit automatically under parent’s application along with financially dependent children at the age of 18 – 25 who are single.
  • Relocation to Cyprus not required. Cyprus PR holder need to enter Cyprus once every two years to maintain the permit.
  • The PR holder and family have a 'second home' in Cyprus.
  • Actual residence in Cyprus may lead to eligibility for Cyprus citizenship by naturalization, currently after 7 years.
CYPRUS

Disclaimer : The information shared is best to the knowledge of the organisation and is based on the information provided by its strategic partners

EU Citizenship by Property Investment : Cyprus

Become an EU PR under 90 days

CYPRUS
Cyprus Citizenship by Investment

The Cypriot Government has established a number of incentives to attract foreign direct investment into the country. One of these is a citizenship-by-investment program that grants full Cypriot citizenship to those that invest more than EUR 2.5 million in real estate and who meet certain other requirements. Successful applicants gain the right to live, work and study in all 28 EU member countries. Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception, if s/he meets one of the following economic criteria presented below. The qualification may either be done personally or through a company/companies in which s/he acts as a shareholder or even as a high-ranking senior manager:

  • Investment in Government Bonds of atleast EUR 5 million.
  • Real Estate investment of atleast EUR 2.5 million.
  • Investment in Financial Assets of Cypriot Companies or Organizations of atleast EUR 2.5 million.
  • Become Cypriot (EU) citizen and obtain a Cypriot passport through naturalization, making it more accessible and affordable than ever.
  • EU passport holders are entitled to enter, reside, study and work in the European Union, Iceland, Liechtenstein, Switzerland and Norway.
Investment Criterion
  • €2.5 million investment in residential real estate (the investment can be in a single property or portfolio)
Benefits of The Program
  • Passport issued within 3 months
  • No physical residency requirement
  • Passport issued to the investor, their spouse and dependent children upto the age of 25, provided they are in full time in education
  • Cyprus allows Dual Citizenship
  • All nationalities eligible
  • No Language requirement, medical test or interview
  • Exit Strategy after 3 years
  • Citizenship is passed on by descent, thus offering a legacy to future generations
  • No tax consequences, unless opt to become tax resident in Cyprus Pure Invest, no donation required
Benefits of Cyprus EU Citizenship
  • Unrestricted right to live, work, travel and study anywhere in European Union
  • Visa free travel to 158 countries
  • Free trade within EU, business access to 500 million EU citizens
  • Cyprus has no inheritance tax, has a highly favourable corporate tax structure and a comprehensive double tax treaty network
EU Citizens:
  • Enjoys the rights in Switzerland, Iceland, Lichtenstein and Norway which participate in the European Economic Area (EEA)
  • Have the right to attend schools / universities within any EU country for free or with reduced tuition rates, as applicable
  • Have the right to protection by the diplomat or consular authorities of any EU country in a third country (country outside EU) where your home country is not represented by a consulate
Conditions
  • The main investment may be sold after 3 years : however the investor must always maintain/ purchase a property with a value of at least €500,000
  • Property purchased upto 3 years to the instruction of the legislation will count towards the required investment
  • Applicants must hold a clean criminal record from the country of origin and their name must not be on the list of persons whose property is ordered to be frozen within the EU
Process
  • Review and select real estate investment
  • Preparation of Citizenship application- the client will receive a detailed application package and document checklist
  • Acquire pre-approval
  • Citizenship application submitted to Government
  • Issue of Cypriot citizenship
  • Naturalization of children
Tax Free
  • One of the lowest corporate taxes in Europe (12.5%)
  • No Capital Gain tax on properties purchased between 16th July 2015 and 31st December 2016
  • Non-domiciled Cyprus tax residents (i.e. those individuals who have not been tax residents for the last 17 years out of 20) are not subject to dividend tax, taxes on rental income and on bank loan deposit interest generated worldwide and in Cyprus.
  • No Inheritance tax.
  • The new amendment to the law introduces the concept of 'non-domiciled' persons and provides that defense tax is applicable only on Cyprus tax resident persons who are also domiciled in Cyprus. This means that individuals who are NOT DOMICILED in Cyprus, and regardless of whether they are Cyprus tax residents, will now NOT BE SUBJECT to defense tax (tax on dividends, bank deposit interest, rental income) on a worldwide income and income generated in Cyprus.
  • An individual is considered as domiciled in Cyprus by way of domicile of origin or by domicile of choice. In order to be considered as domiciled in Cyprus, an individual has to spend 17 out of the last 20 years as a tax resident of Cyprus.
  • New Non-Domicile Tax Resident principle --- interest for investors who have obtained (or wish to obtain) Cyprus citizenship (passport of the EU member state) by investment program. As you may know, there were no tax implications on those receiving passports if they resided outside Cyprus and did not become tax residents in Cyprus. Their income/dividends were taxed by their countries of tax residence just like before they had obtained Cyprus citizenship. And now they can move to Cyprus, become tax residents (which means they do not have to pay taxes in other countries) and be exempted from paying taxes on dividends, bank deposit interests and rental income earned worldwide and in Cyprus, since they are still considered as Non-domiciled tax residents.
CYPRUS
Permanent Residency Program by Property Investment : Cyprus

Become an EU PR under 90 days

Cyprus Residency by Investment

Cyprus is an attractive place to reside, with a warm and stable climate and a convenient geographical position in the eastern Mediterranean. The fast-track (Category F) permanent residence permit has been introduced by Council of Minister's decision in May 2013. This procedure (based on the provisions of Regulation 6(2) of the Aliens and Immigration Regulations), enables the granting of a permanent residence permit to foreigners who intend to invest in the Republic provided that the following requirements are met:

  • Residential or other property with minimum market value of EUR 300,000 purchased in Cyprus.
  • Secured annual income from abroad and from sources other than employment in Cyprus.
  • Funds transferred from abroad and deposited in a Cyprus Bank in a three year Fixed Deposit Account. The residence permit holder must visit Cyprus at least once every two years to maintain his status.
CYPRUS
Benefits of the program:
  • An express procedure to get PR within 90 days*
  • Once Cyprus enters the Schengen zone (expected in 2016), Cyprus permanent residence (PR) permit holders will have the right to travel freely in the zone.
  • Eligibility is not limited to the investor, primary applicant only, but also to his immediate family. Minor children (up to the age of 18) are getting the permit automatically under parent’s application along with financially dependent children at the age of 18 – 25 who are single.
  • Relocation to Cyprus not required. Cyprus PR holder need to enter Cyprus once every two years to maintain the permit.
  • The PR holder and family have a 'second home' in Cyprus.
  • Actual residence in Cyprus may lead to eligibility for Cyprus citizenship by naturalization, currently after 7 years.
CYPRUS

Disclaimer : The information shared is best to the knowledge of the organisation and is based on the information provided by its strategic partners

EU Citizenship by Property Investment : Cyprus

Become an EU PR under 90 days

CYPRUS
Cyprus Citizenship by Investment

The Cypriot Government has established a number of incentives to attract foreign direct investment into the country. One of these is a citizenship-by-investment program that grants full Cypriot citizenship to those that invest more than EUR 2.5 million in real estate and who meet certain other requirements. Successful applicants gain the right to live, work and study in all 28 EU member countries. Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception, if s/he meets one of the following economic criteria presented below. The qualification may either be done personally or through a company/companies in which s/he acts as a shareholder or even as a high-ranking senior manager:

  • Investment in Government Bonds of atleast EUR 5 million.
  • Real Estate investment of atleast EUR 2.5 million.
  • Investment in Financial Assets of Cypriot Companies or Organizations of atleast EUR 2.5 million.
  • Become Cypriot (EU) citizen and obtain a Cypriot passport through naturalization, making it more accessible and affordable than ever.
  • EU passport holders are entitled to enter, reside, study and work in the European Union, Iceland, Liechtenstein, Switzerland and Norway.
Investment Criterion
  • €2.5 million investment in residential real estate (the investment can be in a single property or portfolio)
Benefits of The Program
  • Passport issued within 3 months
  • No physical residency requirement
  • Passport issued to the investor, their spouse and dependent children upto the age of 25, provided they are in full time in education
  • Cyprus allows Dual Citizenship
  • All nationalities eligible
  • No Language requirement, medical test or interview
  • Exit Strategy after 3 years
  • Citizenship is passed on by descent, thus offering a legacy to future generations
  • No tax consequences, unless opt to become tax resident in Cyprus Pure Invest, no donation required
Benefits of Cyprus EU Citizenship
  • Unrestricted right to live, work, travel and study anywhere in European Union
  • Visa free travel to 158 countries
  • Free trade within EU, business access to 500 million EU citizens
  • Cyprus has no inheritance tax, has a highly favourable corporate tax structure and a comprehensive double tax treaty network
EU Citizens:
  • Enjoys the rights in Switzerland, Iceland, Lichtenstein and Norway which participate in the European Economic Area (EEA)
  • Have the right to attend schools / universities within any EU country for free or with reduced tuition rates, as applicable
  • Have the right to protection by the diplomat or consular authorities of any EU country in a third country (country outside EU) where your home country is not represented by a consulate
Conditions
  • The main investment may be sold after 3 years : however the investor must always maintain/ purchase a property with a value of at least €500,000
  • Property purchased upto 3 years to the instruction of the legislation will count towards the required investment
  • Applicants must hold a clean criminal record from the country of origin and their name must not be on the list of persons whose property is ordered to be frozen within the EU
Process
  • Review and select real estate investment
  • Preparation of Citizenship application- the client will receive a detailed application package and document checklist
  • Acquire pre-approval
  • Citizenship application submitted to Government
  • Issue of Cypriot citizenship
  • Naturalization of children
Tax Free
  • One of the lowest corporate taxes in Europe (12.5%)
  • No Capital Gain tax on properties purchased between 16th July 2015 and 31st December 2016
  • Non-domiciled Cyprus tax residents (i.e. those individuals who have not been tax residents for the last 17 years out of 20) are not subject to dividend tax, taxes on rental income and on bank loan deposit interest generated worldwide and in Cyprus.
  • No Inheritance tax.
  • The new amendment to the law introduces the concept of 'non-domiciled' persons and provides that defense tax is applicable only on Cyprus tax resident persons who are also domiciled in Cyprus. This means that individuals who are NOT DOMICILED in Cyprus, and regardless of whether they are Cyprus tax residents, will now NOT BE SUBJECT to defense tax (tax on dividends, bank deposit interest, rental income) on a worldwide income and income generated in Cyprus.
  • An individual is considered as domiciled in Cyprus by way of domicile of origin or by domicile of choice. In order to be considered as domiciled in Cyprus, an individual has to spend 17 out of the last 20 years as a tax resident of Cyprus.
  • New Non-Domicile Tax Resident principle --- interest for investors who have obtained (or wish to obtain) Cyprus citizenship (passport of the EU member state) by investment program. As you may know, there were no tax implications on those receiving passports if they resided outside Cyprus and did not become tax residents in Cyprus. Their income/dividends were taxed by their countries of tax residence just like before they had obtained Cyprus citizenship. And now they can move to Cyprus, become tax residents (which means they do not have to pay taxes in other countries) and be exempted from paying taxes on dividends, bank deposit interests and rental income earned worldwide and in Cyprus, since they are still considered as Non-domiciled tax residents.
CYPRUS