Acquiring an Immigration Permit
All third country nationals who meet the criteria and terms set out in the scheme are eligible for acquiring an Immigration Permit for Cyprus
A non-Cypriot citizen, who meets the following criteria may apply for the acquisition of an Immigration Permit:
- Deposit minimum capital of €30.000 into a bank account in Cyprus, which will be pledged for a period of at least three years
- Provide evidence of a secure annual income of at least €30.000 (+€5.000 for every dependent person – spouse and children – and +€8.000 for every dependent parent or parent-in-law)
- Purchase residential real estate of total market value of at least €300.000 (+VAT). Payment receipts submitted with the application should amount to at least €200.000 (+VAT)
Other Terms and Conditions:
- The Immigration Permit does not allow the undertaking of any form of employment in Cyprus.
- Holders of an Immigration Permit must visit Cyprus once every two years.
- Spouse and financially dependent children: Immigration Permits are also issued for the investor’s spouse and all financially dependent children (up to 18 years old – or between 18 and 25, provided that they are unmarried, students), upon payment of the relevant fee.
- Parents/ Parents in Law: The applicant’s parents may also be granted an Immigration Permit with the submission of an application and payment of the relevant fee.
- Non-financially dependent children: An Immigration Permit may also be granted to non-financially dependent children of the applicant over the age of 18, provided that the market value of the acquired real estate attributed to each child is at least €300.000 (+VAT).
Our Firm’s members have extensive experience and knowledge in assisting high-net-worth individuals to apply for Immigration Permits. Our Firm’s legal team is able to advice you and provide you with all necessary and useful information in relation to the submission of the application, the procedure and the requirements.
- Explain you the procedure step-by-step
- Consult you on the requirements of the application
- Assist you in collecting the relevant required documents
- Draft and review the required agreements and collect the required documents
- Submit the application to the authorities on your behalf
- Keep you informed about the process after the submission of the application