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The Cyprus Ministry of Interior has published new criteria regarding the attraction of foreign investors, aimed at filling the gap in the Cypriot economy following the cancellation of the Cyprus Investment Program in October.
The new investment program will allow foreign investors to obtain a residence permit in Cyprus if the below criteria are met. The applicant must meet one of the investment criteria specified below,as well as quality criteria. It is also necessary to prove that the money to be used for investment comes from abroad.
The applicant must proceed with an investment of at least €300.000 in one of the following categories:
! If the investor in question withdraws his investment without its immediate replacement with another investment of the same or higher value (provided that this investment also fulfills the requirement above), a procedure for removal of the Permit will commence.
! If the investment is made under options A1-2 above the application can be submitted with proof of payment of min €200.000 (exc vat).
! Evidence must be provided that funds are coming from abroad and are not the product of internal lending (i.e from CY bank).
In addition to the investment under points А1-4 above, the investor must prove that has in his/her possession insured annual income of at least €30.000. This income will be increased by €5.000 for each dependent member of the family and by €8.000 for each parent (either parent of the applicant or parent of his/her spouse). The total of this amount must too be from a source from abroad.
! For investments under categories A2-4 above, this total income or part of it can come from activities within the CY Republic (for example from rents obtained from the commercial space bought under A2 above).
! When the investment is done in A1 the investor can buy up to 2 units (apartment or house) provided that the total is min €300.000. Also, for properties under A1 the sale must concern properties sold for the first time.
Please note that PRIME PROPERTY GROUP offers consultancy services on all matters of real estate and investment program criteria fulfillment, so we can be there for you every step of the way! If you are considering emigrating to Cyprus and obtaining Cyprus permanent residency, you may choose us to do it for you! PRIME PROPERTY GROUP was established in 2003, and is the only company in Cyprus that provides customized "A-to-Z" real estate solutions for customers. Our professional services include business projects, such as consulting and handling permanent residence, which thereafter enables you to obtain the Cypriot (EU) passport via naturalization.
Prime Property Group is a pioneer in the real estate development field, providing one-stop services including real estate development and property management to the real estate market and its target customers. And the core advantage of Prime Property Group lies in the fact that this company is not only a real estate agent, but also a real estate developer. It has super economic strength and brand service awareness. It provides relevant services to international customers. Consultancy services on all matters of real estate and construction projects in Cyprus, including tailor-made villas, new apartments or town-houses, or projects adjacent to golf clubs.
Please contact Prime Property Group (https://www.prime-property.com/en/Contacts/) for detailed information about rent, sale or property management services.
Более подробную информацию о налогах и сборах при покупке недвижимости на Кипре вы можете получить на нашей странице.
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