We present the Cyprus Investment Program to non-Cypriot investors/businessmen and members of their families and we may further assist with all relevant aspects. The areas of investment may be one of the following:
Further, a combination of the aforementioned investments is permitted.
An investor may be a Beneficiary; a non-Cypriot citizen who meets one of the following economic criteria:
The Cyprus Investment Program encourages foreign direct investment and attracts high net worth individuals to settle and conduct business in Cyprus.
On the 16th of October 2020 the Government of the Republic of Cyprus has announced that the current Cyprus Investment Program shall cease to exist as of the 1st of November 2020.
The Ministry of Interior has informed the public that currently there are 586 pending applications undergoing examination and review. In addition, the Ministry has informed the public that any new applications for naturalization through the Cypriot Investment Program will be accepted until 12:00 noon of Friday, October 30th 2020, provided that these are duly completed and accompanied by all necessary documents and certificates. Any incomplete applications, will not be accepted for submission.
It has been speculated that a new investment program and new investment incentives shall be introduced under a strict and transparent environment to foreign investors, including incentives for investment in sectors like real estate.
On another note, given the fact that it is now expected that the market value of the real estate properties, residential as well as commercial, shall decrease, we foresee that new investment opportunities shall arise. Investors may benefit not only from the excellent opportunities to acquire premium real estate (residential and commercial) but also from the permanent residency program and if eligible, to apply and acquire a permanent residency in Cyprus.
The Ministry of Interior may issue an Immigration Permit to third country applicants, in cases where the following conditions are satisfied:
Investment / Financial Criteria:
Another advantage of the Permanent Residency program is that the permanent residency issued to an applicant covers his/her spouse and children under the age of 18. Unmarried children aged between 18 and 25, who prove that they are students in an institution of tertiary education abroad with at least six months of remaining study period from the date of the submission of the application and, furthermore, that they are financially dependent on the applicant, may submit a separate application to obtain an Immigration Permit with the payment of the relevant fee. In such a case, the father or mother and/or both parents together must present an additional annual income of €5.000 for every such dependent child.
An Immigration Permit may also be granted to the parents and parents-in-law of the applicant/holder of the permanent residency with the submission of an application and the payment of the relevant fee, with the condition that the applicant/holder of the permit presents only an additional annual income of €8.000 for every such dependent parent.
For children that are not financially dependent, other arrangements may take place.
It is noted that the applicant and/or his/her spouse may be a shareholder(s) in a Company registered in Cyprus, and the income from the dividends of such a company in Cyprus are not deemed to be an impediment for the purpose of obtaining an Immigration Permit.
Procedure & Timeframe:
Time schedule for issuing an Immigration Permit:
It is estimated that the procedure abovementioned for the examination of the application shall not exceed two (2) months from the date of the submission of a complete application.
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