In August 2012, the Government of the Republic of Cyprus introduced new legislation under the provisions of regulation 6(2) of the Aliens and Immigration Regulations 1972-2013, based on the Aliens and Immigration Law, Cap.105, which was revised in May 2013. This legislation enables non-EU nationals to obtain a Cyprus residence permit, with unlimited duration, within 60 days. The permit is valid for the entire family including dependent children over 18 years of age, subject to certain conditions being fulfilled. Furthermore, the process is extremely straightforward and can even be arranged through your representative, without your physical presence in Cyprus.
Cyprus Residency by Investment Video
Residency in Cyprus, a member of the European Union, offers many benefits, which is why the Government’s Residency-by-Investment Program has been so well received by non-EU citizens.
Cyprus Residency by Investment at a Glance
Having a second home in Cyprus will allow you and your family to enjoy so many factors that contribute to
an excellent quality of life:
- Simple criteria, compared to other destinations
- Process can be conducted from abroad
- 100% approval rate if all criteria are fulfilled
- Quick approval within 3 to 8 weeks maximum
- Lifetime residency for the whole family
- No language proficiency, academic qualifications or physical examination required
- Requirement for a short visit once every two years
- Schengen visa can be arranged in Cyprus within 7 days and is valid for 2 years
- Employment is not permitted, but permanent residents may be the shareholders of a locally registered company and benefit from it.
- Freehold property ensures permanent property rights and the opportunity to generate rental income.
- Residency is a stepping stone to full citizenship
Studying and working
One of the most valuable benefits of Cyprus residency is that it allows you to legally reside on the island indefinitely.
Residents’ children can attend any schools and may apply to all colleges and universities.
Tax Implications
Investors are not deemed to be residents for tax purposes unless they actually spend more than 183 days a year in Cyprus.
Furthermore, there is no inheritance tax in Cyprus, which means your property will pass to your children without any financial burden.
