Cyprus is a unique place on the map where any more or less wealthy person can realize his dream of living in a house by the sea.
And in the literal sense, in the house - housing, the cost of which is comparable with the investment rules, does not have to be a luxury villa. Many people buy ordinary apartments in resort towns and receive a residence permit along with them. However, this position is optional - the newcomer decides for himself whether he needs a temporary residence permit.
If we are talking about using housing during arrivals for vacations, weekends and holidays, then you can do without a residence permit. Visa is enough, and is attached to the purchased property. It gives the right to stay in Cyprus for 90 days every 6 months. In other words, 180 days a year. This is very convenient for people who like to live in two houses and spend the cold season not in their own country, but in a much more gentle climate.
But, if your intentions are more serious, then by buying a house, villa, apartment or apartment in a high-rise building (or even a commercial facility!), You can get a residence permit in two months.
Is it beneficial? Yes. For many, the decisive fact is that the corporate tax in Cyprus is only 12.5%, there is no inheritance tax at all, double taxation has been removed in 57 countries, and a view is issued for an unlimited period.
Can Belarusians and Russians get residence permits? And what should they do?
The minimum amount of your investment in the budget of Cyprus should be 300 thousand euros. The applicant makes an injection into the economy of the country in one of the following forms:
- buys housing from the developer (for an accelerated residence permit, only the first sale, the price is from 300 thousand and, if any, VAT);
- buys a commercial facility - a store, office, warehouse, hotel, etc. Here you can buy not a new property (no matter how many times it was sold before) or several properties for the same amount;
- becomes a shareholder of a market participant based and physically present in Cyprus (with a staff of 5 people);
- invests in companies like RAIF, AIF and AIFLNP.
And, if this is about you and you are ready to start obtaining a residence permit by purchasing real estate / object / shares, use the program of accelerated or regular obtaining a new Cypriot status.
The expedited format is as follows:
- We pay a minimum of 200,000 euros without VAT from the assessment of the purchase;
- We provide confirmation that the contribution is not made from money earned within the country;
- We confirm the income in the amount of 30 thousand euros per annum + 5 thousand for the spouse (s) and each financially dependent family member (and for the applicant's parents for 8 thousand euros);
- We document the absence of a criminal record in the spouse (s) and adult children;
- We attach a statement that the spouse and adult children do not apply for vacancies in Cyprus.
The spouse and minor children of the applicant receive a residence permit automatically, as well as adult children under 25 who are students.
If you want a residence permit for your adult children and their families, then the value of the property must exceed 600,000 euros for 1 child and 900,000 for two. Each family must show an annual income of at least €30,000 (plus €5,000/€8,000 for each dependent family member).
Is it possible to buy not new or inexpensive housing, but also get a residence permit?
Yes, but the procedure will be carried out in the usual way, not in an expedited format. In other words, having bought a house or apartment on the secondary market, or worth less than 300 thousand, you must submit a package of documents, which will include confirmation of your ownership rights, income outside Cyprus and the availability of money in his bank.
The minimum income is 10 thousand for the applicant and at least 5 thousand for each dependent family member.
How long will your application be considered? From 12 to 14 months.
Advantages of obtaining a residence permit in Cyprus:
- Residence permit in Cyprus is permanent and is issued for life.
- Valid for the whole family.
- Gives the right to obtain a Cypriot passport (if you have lived in the country for 7 years).
- The opportunity to relax in the best resorts whenever you want.
- The opportunity to live comfortably in a safe country with a wonderful climate, quality healthcare and a good education system.
- There is no need to permanently stay in Cyprus (with the exception of visiting the island once every two years)
- Getting a European education in the best universities in Cyprus