Cyprus

About Cyprus

Located in the southern part of the Anatolian Peninsula, Cyprus is a Mediterranean island renowned for its stunning golden beaches and pleasant tropical climate. It is a member of both the commonwealth and the Eurozone, with its ultimate location south of Turkey and west of Lebanon, with Egypt to the north and Crete to the east; Cyprus has emerged as an attractive choice for non-European and foreign individuals seeking a permanent residency.
Investing in a residential property is the easiest gateway to a Cypriot permanent residency.

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Facts About Cyprus

Location

Southeast Europe

Capital

Nicosia

Time Zone

GMT +3

Total Area

9,251 Km2

Population

1.24 million

Language

Greek & Turkish

Cost of Cyprus Visa by Investment

As an experienced agent in investor visa programs, First Express provides its clients with a comprehensive plan before taking any additional steps.

  • For the regular track, a minimum investment of EUR 100,000 is required through purchasing a residential property.
  • The fast track requires an investment of EUR 300,000 in real estate, which can be in the form of a residential property, office, shop, hotel, or a combination thereof, as long as the total investment amount meets the required threshold.
  • The processing and issuance duration of the Cypriot investor visa ranges between 18 and 24 months.
  • The fast track requires a significantly shorter processing time, between 3 and 6 months.

Requirements of Cyprus

To be eligible for the program, individuals must fulfill specific criteria related to their personal and financial backgrounds. These requirements ensure that applicants are able to contribute to the growth and development of Cyprus while enjoying the advantages of permanent residency and the rights it offers.
Applicant must be at least at the age of 18
A criminal record that is free of any offenses
A valid offshore bank account with a minimum balance of EUR 30,000
Official documentation proofing financial stability with a minimum annual income of EUR 30,000 and an extra EUR 5000 for each dependent child and EUR 8000 for the dependent parent
Including dependent parents as part of the application is restricted to Fast track programs exclusively.

The Timeline of Cyprus

The Timeline

1. Setting a business plan The Journey to earning Cyprus’ investor visa starts by setting a business plan and collecting the required documents.
2. Receiving the support letter An applicant should proceed in the remaining steps once receiving the letter of support from the authorized entity
3. Depositing the Stated investment Depositing the required investment for applying for the investor visa, which doesn’t exceed the administrative, legal, and government fees for submitting a residency application.
4. Residency Initiation Initiation of necessary residency for granting access to Cyprus’ various properties.

Benefits of Cyprus

  • Uniting Families
    An opportunity for family members, including children up to the age of 21 and parents, to be granted a permanent European residency permit
  • A Fresh Start
    Eligibility for living and working in Cyprus
  • Minimal Requirements
    Approval for a residence permit doesn’t include an interview or language test
  • Profitability Potential
    Unrestricted ownership of residential properties with the ability offering it for rent.
  • Flexible Taxation
    Exemption from taxes on income earned worldwide and owned properties
  • Higher Standard Of Life
    Availability of excellent healthcare and education systems
  • Restriction-free
    No requirement for constant physical presence, although maintaining the permanent residence demands at least a visit every two years
  • A Swift Process
    Rapid procedures with the fast track program that enables the issuance of permanent residency within a short period of 3 to 6 months; a regular program is available that requires 18 to 24 months for issuance.