Fidescorp’s dedicated team, in cooperation with our global partners, provides a full range of immigration services covering the Cyprus programs, as well as the ones of other jurisdictions including Greece, Portugal, Spain, Antigua and Barbuda, St. Kitts & Nevis, Hungary, Austria, Malta, Switzerland, Hong Kong, Canada, UK and the US.
Our team will navigate you through the complex procedures and requirements and will make sure that the whole process will be seamless and hassle free.
Key Immigration Services:
- Cyprus Permanent Residency
- Cypriot Investment Program
- Greece residency
- Portugal residency
- Spain residency
- Antigua and Barbuda passport
- Kitts & Nevis passport
- Hungary residency
- Austria residency
- Malta passport
- Switzerland residency
- Hong Kong residency
- Canada, UK and US visas.
Cyprus Permanent Residency
Cyprus provides a very simplified scheme for 3rd country nationals that wish to obtain a Permanent Residence Permit in Cyprus. The Aliens and Immigration Regulations of 1972 outline the Categories under which the third country national may apply for an Immigration Permit. There are two ways to obtain a Cyprus permanent residence:
- Under Regulation 6(2) – via investment: usually granted within 2-3 months
- Category F (Regulation 5(f)): granted within 6- 12 months
The Cyprus Permanent Residence permit is granted to the applicant and his/her spouse and to their minor children up until the age of 25 years old. The permit is permanent and does not expire. The holders of this permit are not allowed to work in Cyprus, but they can own a business in Cyprus from which they will be receiving dividends.
The permit is revoked when the holder is granted permanent residence in another country and/or when he/she did not visit Cyprus for a period longer than 2 years continuously.
Regulatation 6(2) Procedure
Under this procedure, the applicant must:
- Purchase one or more newresidential (or combination) property(ies) of at a value of at least €300,000 (not including VAT)
- At least €200,000 (not including VAT) should be paid to the Vendor
- Proofs of transfer of €200,000 (not including VAT) from abroad must be provided
- The contract of sale must be deposited at the relevant District Land Registry
- Maintain a bank deposit of €30,000 in a Cypriot Bank, blocked at least for 3 years. It must be proven that €30,000 was transferred to Cyprus from abroad.
- The applicant should be able to prove at least €30,000 of annual income for himself and an additional €5,000 for each dependent family member (such income must be sourced from abroad)
- The applicant, his spouse and children from 18 years old should have and provide clean criminal record from the country of their origin. The period of validity of this document is three months.
Under the decision of the Minister of Interior of the Republic of Cyprus, dated on 07/05/2009, when a non EU Member buys a residence in Cyprus for himself and his family worth €300.000 or more, his application for Permanent Residence, Category F will be examined favourably.
This type of permit is granted to those 3rd country nationals, who possess and have fully and freely at their disposal a secured annual income of a minimum of €9,568.17 for a single applicant and €4,613.22 for every dependent person. The Civil Registry and Migration Department reserves the right to demand additional amounts.
Moreover, the Immigration Authorities will examine the stability and reliability of annual income during a long period of time.
Key Benefits of Cyprus Permanent Residence
- Excellent prospects for the future as Cyprus may enter the Schengen Zone of Europe allowing all Cyprus Permanent Residence holders to travel freely through Europe. At the moment it is very easy to receive a Schengen Visa once you have Cyprus Permanent Residence; the process takes approximately 30 minutes and the visa is valid for up to 2 years.
- Cyprus Permanent Residence holders have a right to much lower tuition costs in certain European countries because they are considered Permanent Residents of a European country.
- Children of Cyprus Permanent Residence holders are considered Chinese of Diaspora and are accepted into Chinese universities with lower credits.
- Cyprus Permanent Residence applies to the wife and husband as well as all children under the age of 25.
- Freehold Property
- No inheritance tax
Cypriot Investment Program
Under the program, all third country (i.e. non-EU) nationals are eligible to obtain the Cypriot citizenship, provided that:
To qualify for citizenship, applicants must fulfill one of the investment options below and hold it for three years in addition to meeting the following criteria:
- Possess a valid passport
- Hold no criminal record
- The main applicant’s property is not frozen within the boundaries of the EU
- Possess a residency permit in the Republic of Cyprus, for a period of six months before being granted citizenship
- Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT
- Invest €2 million in one of the below options
- Real Estate, Land Development or Infrastructure Project
Applicants may invest at least €2 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.
- Purchase, Creation or Participation in Cypriot Businesses or Companies
Applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.
- Investment in Financial Assets of Cypriot Companies or Organizations
Applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three years.
- Combination Investment
Applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.
they meet the criteria of the citizenship program. A Cypriot passport is an EU passport and its holder may benefit from the internal market, the opportunities and the stability of the European Union.
The applicant, if successful, will be able to transfer capital from any EU Member State to another, purchase property or invest in any activities of his/her choice. Furthermore, by holding a Cypriot passport, the applicant and his family may enter, reside, study and work in the European Economic Area (European Union, Iceland, Liechtenstein, Norway) & Switzerland without a visa. They also enjoy free access to the EU healthcare systems as well as European schools and universities.
The program’s benefits are particularly appealing for foreign investors as they entitle them to the following:
- The investor and his family can freely reside, work, study, have business in any of the EU-member states as well as in Switzerland, Liechtenstein, Norway and Iceland.
- Holder of Cyprus passport can travel visa-free (or visa on arrival) in 158 countries.
- Dual-citizenship is permitted. The investor may retain the citizenship of his/her country of origin.
- There is no requirement of physical residence in the country during or after the application procedure is initiated.
- No donation to the Cyprus government required.
- No language proficiency test is required.
- Right to own property in any EU member state.
- Fully transparent, fairly simple and fast procedure.
- Approval of citizenship application within approximately six months;
- Simultaneous submission of residency and citizenship applications.
- Parents of applicant qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
- Low tax rates and free trade within the EU.
- Strategic geographical location forming a bridge between the EU, Middle East and North Africa with direct access to the Mediterranean Sea.
- Safest country in the world with a population under 5 million.
- Excellent education system as well as first-rate health care.
- An outstanding holiday destination.