New investment options of the Cyprus Permanent Residency by Investment Program
Published at: 14/04/2021 11:13 am
The minimum amount of investment is still €300,000 in 2021 for the Cypriot permanent residence permit in exchange for investment. The government introduced further investment options.
From 2021, the applicants can invest not only in new residential real estates. Investors from third (not EU) countries may opt to invest in commercial properties, including offices, hotels and shops.
Please note that the Republic of Cyprus's residency by investment scheme allows applying more family members as the usual EU immigration programs for investors. In Cyprus, the principal investor, the spouse and not only the children under 18 years old may apply. It is allowed to join under one application the financially dependent children up to the age of 25 and the parents and parents-in-law as well.
Advantages of the Cyprus Permanent Residency by Investment Program
- Cyprus is a Member State of the European Union, and the permanent resident status may lead to citizenship.
- The holders of the Cypriot permanent residence permit do not have to become tax residents there.
- However, staying annually for two months in Cyprus guarantees you tax residency and one of the lowest European taxes.
Another new investment option for the Cypriot permanent residence permit is that the applicant can invest in Cyprus companies having presence and local activities and creating at least five jobs.
The Cypriot government also introduced the investment in Cypriot UCTIS (UCITS are investment funds
The applicants must still prove a continuous annual income of at least €30,000, increased by €5,000 for every dependent applicant and by €8,000 for every dependent parent or parent-in-law.
Please note: It's no longer a must to deposit €30,000 in a Cypriot bank for three years!
Successful applicants still must confirm that they do not intend to get a job in the EU Member State, besides holding a directorial position in the company they invested in.
Do you want to know all the details of the Cyprus Permanent Residency by Investment Program? Please, click here!
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