Cyprus

It is noted that any alienation of the holder of the Immigration Permit from the investment he/she has made without its immediate replacement with another of the same or greater value which must meet the conditions set out in the present procedure, will result in the cancellation of the Immigration Permit based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.

It is also noted that the funds used for the investment must be proved to have been transferred to Cyprus from abroad, from the applicant’s or/and his/her spouses bank account, provided the spouse will be included as a dependent person in the application. The investment amount should be paid from the applicant’s bank account to the seller’s account in a Cyprus financial institution.

It is important also to note that, the applicant should, in addition to the investment required, be able to prove that he has at his disposal a personal secure annual income of at least €50,000. This annual income increases by €15,000 for his/her spouse and by €10,000 for each of his/her or his/her spouse’s dependent minor child. This income should derive from abroad and may include salaries or wages, pensions, dividends from shares, bank deposits interest, rents, etc., which can only be proved through a tax return declaration from the country he declares tax resident, in cases where the applicant chooses to invest in residential property. In calculating the total amount of income, the spouse’s income may also be taken into account.

The annual income of the applicant can be proven either through his/her tax return declaration from the country where he/she declares tax resident or through official certificates from an independent Certified Accountant.

In cases where the applicant chooses to invest in assets other than residential properties, his total income or part of it may also come from sources coming from activities within the Republic.

The Immigration Permit is issued to the applicant and it covers his/her spouse and their children under the age of 18 as dependent persons.

Two separate Immigration Permits may be granted to each spouse, if desired, provided that a separate application is submitted and the relevant fee is paid, without being required for the other spouse to satisfy the criteria of this policy.

It is noted that, if for any reason the Immigration Permit granted to the investor is cancelled, this will result in the cancellation of the spouse’s Permit based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.

Unmarried children between the ages of 18 and 25, who have proved that they are students of tertiary education abroad at the application’s submission date and are financially dependent on the applicant, can submit their own, separate application for an Immigration Permit with the payment of the relevant fee. In such a case, the father or mother and/or both parents together must present an additional annual income of €10,000 for each such dependent child.

If the children wish to study in any Institution of Tertiary Education in the Republic, they have to submit through the Institution an application for acquisition of a temporary residence permit in the Republic as students, according to the provisions of the relevant legislation (EU Directive).  After completing their studies in the Republic, they will be able to submit their own application for an Immigration Permit, as mentioned above with the payment of the relevant fee, regardless of their age and with the condition that the parents will present an additional annual income of €10,000 for every such child.

The mentioned Permit remains valid even if the holders have exceeded the age of 25 years and even if they do not remain unmarried and/or students and/or financially dependent on their parents.  It is noted that their future spouses or underage children cannot be included as dependent persons on this Permit.  It is important to mention that, if for any reason the Immigration Permit granted to the investor/parent is cancelled, this will result in the cancellation of the child’s Permit, based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.

The residence right of such permits is of unlimited validity, for the holder and his/her adult dependents. The residence permit (card), however, has an expiry date of ten years from the date of its issuance and must be replaced with its expiration.

The residence permit which is issued to the underage dependents is valid until the age of 18.

In any case, other conditions have to be satisfied

Cyprus tops the charts being amongst the top 5 safest countries in the world and stands out as the safest country for the young people out of 184 countries according to the data published by the World Health Organization (WHO).

Cyprus is a world-class educational and research Centre of Excellence with high-quality academic institutions, offering a large variety of fully accredited study programs in English, attracting thousands of international students each year. The country has the highest number of ranked Higher Education institutions per 1mn population in the EECA region (QS World University Rankings), while a vast range of multilingual international schools in all cities, offer American, British, French, and Russian curriculums from pre-primary all the way to secondary education.

Quality healthcare is provided both through the National Healthcare System, as well as private healthcare facilities with state-of-the-art medical services, that offer the highest quality in patient care, while the country has been ranked 21st out of 169 countries in the latest Bloomberg Healthiest Country Index.

It is an island with a rich history, heritage, and culture, harmoniously blending influences from both Eastern and Western civilizations, going back more than 10,000 years, and has developed from a stone-age settlement to a modern and thriving European Union State. Cyprus offers its residents the choice to enjoy a vibrant and dynamic lifestyle in multicultural cities or to embrace a more peaceful and relaxing way of life while living in picturesque villages in the countryside.

Cyprus has been awarded 69 Blue Flag beaches, the highest per capita award in the EU (Eurostat), and has been consistently ranked for its crystal-clear waters and excellent water quality within the EU, receiving a perfect score of 100% at 112 swimming spots around the island according to the European Environment Agency’s (EEA) latest report.