How to Get Cyprus Residency

How to Get Cyprus Residency

How to Get Cyprus ResidencyIf you plan to move to Cyprus, open a company or buy a ready-made company, in 2023, you can apply for an investor visa by investing at least €300,000 in one of the following categories:

  • Real estate – a house or apartment at a rate of €300,000 (plus VAT). It is allowed to buy two or more objects for which the price is summed up.
  • Purchase of commercial real estate also gives the right to a visa investor in Cyprus – offices, shops, hotels or related objects.
  • Equity investment of a Cyprus company through shares or by opening a new Cyprus firm with a subsequent contribution to its authorized capital. The firm should be based and operate in the Republic of Cyprus, have a physical presence and a minimum of five employees.
  • Investment in the units of the Cyprus investment firm, opened in the form of AIF, AIFLNP, RAIF.

Additional requirements for an applicant for an investor visa on the island of Cyprus

The main requirements of the Cyprus investment program include, among others, when opening a company:

Income – not less than €30,000 per year + €5,000 for each family member (dependants) – €8,000 for each parent on the dependents of the applicant and/or his spouse. Income includes wages, pensions, dividends, fixed deposits, rent income. The source of profit depends on the investment object – only from foreign sources for real estate investments and from any other countries, including Cyprus when opening a firm and a local Cyprus company.

The list of applicants for an investor visa in Cyprus – the investor himself, the spouse and children under 18 years, unmarried children, students from 18 to 25 years, parents.

The amount of investment with the right to a residence permit – at least 300,000 euros.

Requirements for the company established in Cyprus – a real physical presence, a staff of 5 people.

Investor visa in Cyprus

The standard set of necessary documents for obtaining an investor visa in Cyprus includes:

  • copy of passport
  • marriage certificate
  • birth certificates of children
  • certificate of criminal record from the country of residence
  • documents confirming annual income from abroad
  • documents confirming that the investment capital came to Cyprus from abroad
  • if parents/legal parents apply – proof of kinship
  • if 18-25 year olds apply – proof of university education

All official documents must be translated into English and have an apostille or certified by the Ministry of Foreign Affairs.

Documents confirming the investments:

Real Estate: Contract of sale and proof of payment of at least €200,000.

  • A firm in Cyprus, its opening or acquisition of shares: a share purchase agreement, shareholders’ certificate and registration, business profile, Social insurance documents to confirm the employees of the company.
  • Investments in units (AIF, AIFLNP, RAIF): titles or other evidence of acquired units.

The period of consideration of the application is from 2 months, and after a positive response, the applicant must be in the country within 1 month for a final signature.

Characteristics and advantages of Cyprus visa investor

Cyprus investment visa provides the following advantages:

  • entry and residence in the country without restrictions
  • if the applicant has established a firm and visits Cyprus every two years, the visa will not expire
  • access to immigration when opening a company in Cyprus for all family members
  • right to health care within the general health system

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