Project Description<\/p>\n
\u2022 Policy Nature: Non-EU citizens can apply for permanent residency through a fast track by making a qualified investment (primarily through property purchase) under section 6(2) of the Foreigners and Immigration Regulations. Upon approval, they will receive permanent residency status, with a residency card valid for 5 years and renewable indefinitely. There is no mandatory residency requirement (only a visit to the EU every two years is required).
\n\u2022 Purchase requirements: Investment of no less than 300,000 euros (excluding VAT) is required to purchase one of the following types of properties: (i) Purchase one or more brand-new residential properties (apartments or villas) from the developer. These properties must be sold for the first time and second-hand properties are not eligible. (ii) Purchase commercial properties (offices, shops, hotels, etc.), whether new or second-hand. (iii) Purchase newly built mixed-use residential and commercial properties with a value of no less than 300,000 euros.
\n\u2022 Payment requirements for property purchase: Payment must be made from an overseas account in your name, and you must provide proof of payment of at least \u20ac200,000 to the immigration authorities at the time of application. In addition, you must deposit at least \u20ac30,000 in a fixed-term deposit in a Cypriot bank for a period of at least three years.
\n\u2022 Annual income requirement: The main applicant must prove that he or she has a stable and legal overseas income of no less than 50,000 euros per year (which can be composed of salary, pension, rent, dividends, etc.). The spouse applying alone needs to provide an additional 15,000 euros per person, and for each additional minor child, an additional 10,000 euros per person is required.
\n\u2022 Permanent residency benefits: Indefinite residency, free movement within the Schengen Area (Cyprus is moving towards Schengen accession), free public education for children and preferential access to private schools, and eligibility to apply for Cypriot citizenship (passport) after seven years of legal residency. Note: Permanent residency does not allow holders to be employed (receive a salary) locally, but the main applicant can serve as a non-executive director of the invested company or operate a wholly foreign-owned enterprise.
\n\u2022 Target audience: Primarily non-EU investors, retirees, and families wishing to obtain EU permanent residency through stable residence. After holding permanent residency for 7 years, one can apply for a passport and enjoy all the rights of an EU citizen.<\/p>\n
Key advantages: Permanent residency obtained in one step, no residency requirement, high-quality education for children, real estate with both investment and self-occupancy value, and zero language and educational requirements.<\/p>","protected":false},"excerpt":{"rendered":"
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