Q & A
Cyprus Residency by Investment
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Q
What is the Cyprus Golden Visa Program?
A
The Cyprus Golden Visa Program is the Cyprus Permanent Residence Permit, whereby one is able to acquire a Cyprus Permanent Residency by making a specified quantum of investment in Cyprus Property. |
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Q
What are the “investment criteria” required?
A
(a) Bank deposit in a Cyprus bank of a specified amount for 3 years. |
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Q
Are there any Age requirements?
A
The applicant must be at least 18 years old. |
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Q
Are there any educational, work experience or language proficiency requirements?
A
No. |
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Q
Who are eligible to apply?
A
Applicant, spouse, unmarried & dependent children up to the age of 25 & applicant’s parents and parents-in-law. |
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Q
Are there any residency requirements?
A
No. Applicants are only required to visit Cyprus only once every two years. |
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Q
How long is the Cyprus Residence Permit valid for?
A
Valid for life. No requirements for renewal. |
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Q
Does the Cyprus Residence Permit allow me to apply for Republic of Cyprus Passport?
A
Yes. This is possible if you can prove 7 years of legal & continuous residence. |
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Q
How long does it take to get a Cyprus Permanent Residence Permit?
A
Two months from the date of submission of application. |
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Q
Does the applicant need to show, at any time, that he/she took actual possession of the invested property?
A
Not necessary. |
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Q
Can the applicant rent out the property?
A
Yes. |
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Q
Can I apply for a Cyprus Permanent Residence Permit on my own?
A
No. An application for the Cyprus Permanent Residence Permit must only be submitted by an authorized representative of the Cyprus government. |
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Q
Is there any due diligence carried out on the main applicant & dependants?
A
Yes. Due Diligence is carried out by both us at Migratesmart® and by the government of Cyprus. The period of due diligence depends on the circumstances of each clients. |
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Q
How can Migratesmart® help us?
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Our partnerships with leading & highly reputed law firms in all countries that we operate in, or provide services for, enables us to provide end-to-end solutions & services to our clients. We can take care of every aspect of your Cyprus Immigration Investment & Permanent Residency process & ensure you derive maximum benefit from our expert knowledge & advice. |
