– Three (3) year fixed deposit with a Cyprus bank of at least EUR 30,000 of funds originating from abroad – following the lapse of the 3 years, the applicant may use this amount as he/she wishes.
– Proof of annual income of at least EUR 30,000 originating from sources outside of Cyprus.
– Minimum Property investment of EUR 300,000 + VAT for a ‘first-time’ sale of residential property (house, flat etc) from a land developer in Cyprus. This amount may be used to acquire:
- 1 Residential Property or
- 2 Residential Properties or
- 1 Residential Property & 1 Shop or
- 1 Residential Property & 1 Office.
– Option to apply for and benefit from the Reduced VAT Co-Efficient Scheme (19% to only 5% VAT on Real Estate).
– At least EUR 200,000 must have been paid prior to the submission of an application for a permanent residency permit. The remaining amount may be paid at a later date.
– Applicant must visit Cyprus within 1 year of the date of issuance of the permanent residency permit to provide biometrics. Applicant must then visit Cyprus once every two (2) years thereafter.
– Clean criminal record.
– Applicant may benefit from receiving dividends from a Cyprus company.
