A simplified and fast-track procedure for obtaining a permanent residence permit is only provided for buyers of new properties of the value at least €300,000 excluding VAT.
Investment Criteria
Fast track Residence Permit may be obtained through a secure property investment, the financial criteria are as follows:
- The Purchase Price must be at least 300,000 Euro (not including VAT) sold for the first time.
- At least 200,000 Euro (not including VAT) should be paid to the Vendor.
- Proofs of transfer of 200,000 Euro (not including VAT) from abroad must be provided.
- The applicant should also have a deposit of €30.000 pledged in a bank account in Cyprus for 3 years.
- The applicant should prove that has at disposal a secure annual income of at least €30.000.
In addition to make a financial investment applicants must also meet the following criteria/supply the following documents:
- Passport
- Curriculum Vitae
- Children’s Birth certificates
- Police clearance certificate from country of origin
- Marriage certificate (if applicable)
- Official Statements by the applicant and his/her spouse that they do not intent to undertake any sort of employment in Cyprus.
- Health Insurance Policy for the applicant and his/her dependents