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GET YOUR FREE CONSULTATION FOR CYPRUS GOLDEN VISA
300,000
Minimum investment amount
2 MONTHS
Application processing time
1 DAY
Minimum stay every 2 years
8 years
You can apply for citizenship
ABOUT CYPRUS
Cyprus is the third largest island in the Mediterranean and is a member state of the European Union. It is expected to join the Schengen Area in 2025. It has a population of approximately 900,000 of mainly Greek origin, with a smaller Turkish community and some other minorities. It uses the Euro as its currency.
The capital is Nicosia, located in the island’s centre. The main coastal towns are Limassol, Paphos and Larnaca. Official languages are Greek and Turkish but Greek and English are mostly spoken. The economy is mainly based on tourism and financial services.
Originally settled by the Greeks 6,000 years ago, Cyprus has successively been ruled by the French, Venetians, Ottoman Turks and British over the last nine centuries. It became a republic in 1960. All these foreign influences have left their mark on the rich cultural identity of the island.
Since 1974, the island has been divided in two, with the northern part controlled by Turkey. Reunification talks have been ongoing but have so far failed to yield any results. EU citizens are free to move throughout the island. Citizens of non-EU countries who enter the island through the Turkish-controlled northern part will not be allowed to cross the border into the South. If entering through the southern ports or airports, non-EU citizens may move throughout the island.
Cyprus offers excellent healthcare facilities, one of the world’s highest standards of education and a reasonable cost of living. Its Mediterranean climate ensures 320 days of sunshine per year.
WHO CAN GET A CYPRUS GOLDEN VISA
NON-EU NATIONALS
Applicants must not be nationals of any other EU state.
CLEAN CRIMINAL RECORD
A clean criminal record is required in Cyprus, as well as the applicant's country of origin and their current country of residence.
FAMILY MEMBERS MAY BE INCLUDED
The application can include the main applicant, their spouse and any children under the age of 18. Unmarried children aged 18 to 25 who are studying full time in Cyprus can also be included through a student visa.
MINIMUM INVESTMENT IN CYPRUS
A minimum investment of €300,000 must be made through one of the permitted options detailed below.
MINIMUM ANNUAL INCOME
The main applicant will need to demonstrate overseas income of at least €50,000 per year. This increases by €15,000 if the spouse is included and €10,000 for each dependent child. The spouse’s income can be taken into account in this calculation.
Investment options for the CYPRUS Golden Visa
INVESTMENT IN REAL ESTATE
INVESTMENT IN COMPANY SHARES
It is possible to qualify for the Cyprus golden visa by investing a minimum amount of €300,000 in the share capital of a company registered in Cyprus.
The company must maintain a physical presence in Cyprus and employ at least 5 staff.
INVESTMENT IN A FUND
The third route to a Cyprus golden visa is by making an investment of at least €300,000 in a fund which is regulated by the Cyprus Securities and Investments Commission (CySEC) and is a member of the Cyprus Investment Funds Association.
This can be an Alternative Investment Fund (AIF), a Registered Alternative Investment Fund (RAIF) or an Alternative Investment Fund with Limited Number of Persons (AIFLNP).
CYPRUS Residency TAX CONSIDERATIONS
Procedures for CYPRUS Golden Visa Program
COMPLETE YOUR INVESTMENT
If investing in property, a contract will be executed with the developer or seller, which is then deposited with the Land Registry.
Whether investing in property, company shares or a fund, the minimum amount of €300,000 plus VAT (if applicable) will need to be paid before the visa application can be submitted. The funds must originate from the applicant's personal bank account outside Cyprus.
All investments can be carried out remotely, including property, without the applicant needing to visit Cyprus.
Compliance checks will be carried out at this stage by the bank to which your payment is sent so as to verify the legitimate source of the funds.
You will be required to register with the Cyprus tax authorities and to obtain a Cyprus tax identification number.
SUBMIT YOUR APPLICATION
Once you have made your investment, we will prepare your golden visa application.
We will advise you of all the documents required, which should be issued in English or Greek. If issued in another language, a certified translation will be needed.
We will then submit your application.
MEET WITH IMMIGRATION AUTHORITIES
The processing of your golden visa application will take approximately two months.
Once your application has been approved, all applicants will be required to visit the Cyprus immigration authorities in person.
Photos and fingerprints will be taken during the meeting, including children under the age of 18.
Passports will need to be presented, so that the visas may be affixed.
YOU CAN NOW LIVE IN CYPRUS!
Your Cyprus identity card with a 10-year validity will be issued on the spot at the time of your meeting with the immigration officials.
You will receive a permanent residence permit, allowing you to remain in Cyprus indefinitely, provided you continue to hold your investment. This will need to be confirmed on a yearly basis.
A health insurance certificate will also need to be submitted every year if you are not covered by the country's General Health System.
Every three years, all applicants will need to submit fresh clean criminal records from their country of origin and residence.
Client Reviews
Frequently Asked Questions
Can I bring my family with this visa?
Yes you can! The Cyprus golden visa covers the main applicant, their spouse, children under the age of 18, and also unmarried children aged between 18 and 25 who are in full time education in Cyprus.
What is the minimum investment for the Cyprus Golden Visa?
The minimum investment required is €300,000. This can be for the purchase of a residential or commercial property, or an investment in the shares of a Cyprus company employing at least 5 staff or in an approved investment fund.
DO I HAVE TO PAY VAT ON MY PROPERTY PURCHASE?
VAT applies at the rate of 19% on all purchases of newly-completed properties.
If buying a newly-completed residential property exclusively for your own personal use, the rate is reduced to 5%. This is limited to the first 130 sqm of built-up area, up to a value of €350,000 and provided the total transaction does not exceed €475,000.
WHAT IF BUY RESIDENTIAL PROPERTY FOR MY PERSONAL USE AND THEN DECIDE TO RENT IT OUT?
At the time of buying your property, you will pay 5% VAT. If you later decide to rent the property out, you will be required to pay top-up VAT.
If you have held the property for less than a year, the top-up VAT will amount to 14%. This is reduced by 1.4% for each year that you hold the property. Once you hold it for 10 years, you may freely rent the property out without paying any top-up VAT.
How long does the process take?
Your Cyprus golden visa application will take approximately two months to process, once submitted.
Can I work or start a business in Cyprus with this visa?
There are limited employment possibilities. If choosing to invest in the shares of a Cyprus company, then the applicant and their spouse can work as directors in that company. They can also act as unpaid directors in other companies in which they own shares.
How do I become a tax resident of Cyprus?
If you spend 184 days or more in a year in Cyprus, you will automatically become a tax resident.
It is also possible to obtain tax residence by spending at least 60 days in a calendar year, provided that you do not spend 184 days or more in another country, are not tax-resident elsewhere, maintain a permanent home in Cyprus and carry out business or are employed or hold an office in Cyprus.
Can I also acquire permanent residence elsewhere?
Once you are a Cyprus permanent resident, if you acquire permanent residence in another jurisdiction at any time, you will lose your right to permanent residence in Cyprus.
CAN I GET A CYPRUS PASSPORT?
Residence permit holders are eligible to apply for citizenship after cumulatively residing in Cyprus for 8 out of the last 10 years, including the most recent 12 months. Absences totalling no more than 90 days during the final 12 months are permissible. Applicants must also maintain a place of residence in Cyprus and pass a basic Greek language test (A2 level).
In the case of highly-skilled applicants, who are employed in sectors deemed significant by the Council of Ministers or who hold the position of director in a Cyprus foreign interests company, the residence requirement is reduced from 8 to 5 years. This is further reduced to 4 years if the applicant holds a B1 level Greek language certificate.
As a Cypriot citizen, you will have unrestricted rights to live and work anywhere within the European Union.
