1. The process – from the date of the submission of the application – takes only 2 months.
  2. Applicant and his/her family are included in the Immigration Permit and they are not forcedto live in Cyprus. They have to visit at least once every two years.
  3. The applicant should purchase a property (house, apartment or any other building) in Cyprus, for a minimum value of €300.000 + VAT (if any).
  4. It is not necessary for the applicant to have a purchase of a single property buthe/she can combine properties, as long as the total amount is for a minimum value of €300.000 + VAT (if any).
  5. The immigration permit covers applicant’s spouse and also children under the age of 18. Additionally it coversunmarried children aged 18 to 25, that are students at a University and are financially dependent on the applicant – with proof. At the age of 25 and above the exact permit will be valid for a lifetime without any other additional documents.
  6. Applicant and/or his/her spouse must proof via documentation that they have an ensured minimum annual income of €30.000 and that they have an increase of € 5,000 per person respectively from sources coming from abroad (salaries, pensions, dividends, fixed deposits, rents).
  7. The parents of the applicant and of his/her spouse are able to apply and obtain the Permanent Residence Permit by showing an extra 8,000 euros each on the main applicant’s income certificate.
  8. A minimum capital of €30.000 has to be deposited into an account and to be committed for at least three years. Also, the applicant should submit a confirmation letter from a financial institution in Cyprus that he/she has deposited the above capital into an account. Last but not least it must be proved that the exact amount has been transferred to Cyprus from abroad.
  9. Any documentation required by the checklist of the Cyprus Government must be submitted by the applicant and his family included in the Immigration Permit
  10. The applicant and his/her spouse shall confirm that they do not tend to be employed in Cyprus, but that they might be shareholder(s) in a Company registered in Cyprus and that the income from the dividend profits of such a company in Cyprus, do not considered as an hindrance for the purpose of obtaining an immigration permit.

Timeline of Application

  1. 2 months for compliance
  2. 1 week for preparation & submission
  3. 2 months for the processing time
15 Reasons to Buy Property in Cyprus
15 Reasons to buy Property in Cyprus

 

For more information and guidance please email Inter-M Properties – Real Estate Agents, at info@intermproperties.com or visit our website at www.intermproperties.com Tel. +357 25 660092 – Fax +357 25 660097.