Q & A

Cyprus Residency by Investment

Q & A
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.


Q
What are the “investment criteria” required?

A

(a) Bank deposit in a Cyprus bank of a specified amount for 3 years.
(b) Proof of specified levels of current annual income.
(c) Investment in Cyprus property.


Q
Are there any Age requirements?

A

The applicant must be at least 18 years old.


Q
Are there any educational, work experience or language proficiency requirements?

A

No.


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.


Q
Are there any residency requirements?

A

No. Applicants are only required to visit Cyprus only once every two years.


Q
How long is the Cyprus Residence Permit valid for?

A

Valid for life. No requirements for renewal.


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.


Q
How long does it take to get a Cyprus Permanent Residence Permit?

A

Two months from the date of submission of application.


Q
Does the applicant need to show, at any time, that he/she took actual possession of the invested property?

A

Not necessary.


Q
Can the applicant rent out the property?

A

Yes.


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.


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.


Q
How can Migratesmart® help us?

A

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.