The Cyprus Residency by Investment (RBI) program is one of the most popular residency programs providing easy access to all of Europe, and a clear path to Cyprus Citizenship.
With over 13 years of experience in all areas of international immigration and in-house world-renowned Cyprus immigration attorneys, we at Migratesmart provide a ‘single point of contact’ for all services related to Cyprus, including establishing a business. Our LRS & FEMA advisory for foreign outward remittances, ensures that you are compliant with all government rules & regulations.
Residency by Investment (PR)
Cyprus has become an increasingly popular destination for non-EU nationals seeking Permanent Residency in an EU-member state. Cyprus Permanent Residency is one of the easiest and fastest routes into Europe, where most cases are completed within a period of 2 months.
Our services for acquisition of your Permanent Residence (PR) Permit includes the following :
- Providing a detailed overview of the process
- Advice on making the right real estate investment
- Opening a Bank Account
- Preparation of the Permanent Resident visa application and its submission
- Liaising with the “Ministry” and applying for the Cyprus Residence Permit for all applicants
- Liaising with the “Department” for issuance of the Cyprus Residence Permit once the application is approved by the Ministry
Our vast Cyprus property portfolio includes residential & commercial properties that meet the criteria for Cyprus Citizenship and offer a high Return on Investment (ROI). We only work with the leading, most reputable and financially strong developers and property owners in Cyprus to make sure our clients investments are secure. Properties pass through our strict due diligence procedures.
Our property acquisition services include the following –
- Review property options based on the client’s requirements
- Tour of pre-selected properties
- Search at the Land Registry for the chosen property to ensure it is free from mortgages and encumbrances
- Negotiation of price and transaction conditions
- Draft or review and amend the “Contract of Sale” to ensure that the contract protects the client
- Attend to the relevant tax authorities and settle the taxes and stamp duties
- Register the “Contract of Sale”
- After-sales support/management of the property/rentals
A member of the EU, Cyprus has a long established reputation as a “Center of Excellence” for international business activities & retains unique clusters of expertise & service capabilities to support every investment. Key factors that make Cyprus an attractive destination for investment are its strategic location, free-market high income advanced economy, highly educated and qualified workforce, investor-friendly environment, reliable legislative & regulatory framework, stable tax system, and safe & stable conditions prevailing in the country.
A recent law notified by the Cyprus parliament in January 2021 provides for a fast and efficient way to establish a business in Cyprus. Your can establish a new company or branch/subsidiary of your foreign company, sometimes in as little as 7 working days. It also allows foreign companies to hire an increased number of foreign staff in key positions and for the grant of Residence Permits to family members of such staff.
A company can undertake any business activity. However, some industries might require a Special Permit. We can assist you with all of the formalities.
Cyprus also provides for a specified tax exemption on remuneration earned by employees in Cyprus for a period of 5 years. There is also an advantageous NON-DOM status that may be applicable to new tax residents, and all applicants can enjoy access to the National Healthcare System & to a high level of education at all levels for their children.
Our Business Services encompass every aspect of incorporation and operations of your business in Cyprus.
For more about the Cyprus business environment, read here
- Strategically located – close to Europe, Northern Africa, Middle East and Asia
- 5th best relocation destination in the world – Knight Frank
- Excellent Healthcare and Education systems
- English is widely spoken
- Residence Permit granted within 2 months
- Permits are valid forever, with no requirement for renewals
- No age, education, business/management experience or language proficiency required
- No Residency requirement – only have to visit Cyprus once every 2 years
- Can apply for Long Term Residency status after 5 years
- Can apply for Citizenship after 7 years, subject to certain conditions being met
- Hub for thousands of offshore companies
- All company incorporation formalities can be completed within 7 days
- Lowest Corporate Tax Rate in the EU @ 12.5%
- Member of European Union (EU)
- Visa-free access to 174 countries
- Main applicant must be over 18 years of age
- Applicants must provide proof of having a clean criminal record
- Can include Spouse, children under 18 years of age and parents of both the main applicant & spouse
- Purchase new immovable property of value of at least EUR 300,000 plus VAT (value lower if applying under Category F)
- Deposit a minimum of EUR 30,000 into a Cypriot bank account for 3 years (lower if applying under Category F)
- Provide proof of annual income of at least EUR 30,000 p.a. (additional income requirements for dependents). If applying under Category F, provide proof of annual income of EUR 10,000
- Applicants & dependents cannot be employed in Cyprus
- Applicants and dependents can be shareholders in a company and can receive income from the dividends of such company
- You can invest through an existing foreign company or set up a new company
- Existing companies must have a minimum turnover of EUR 500,000 per year for 3 of the last 5 years
- New companies must provide a 5-year business plan
- Must invest at least EUR 200,000
To apply, simply contact us. We will answer all your questions and provide you with all guidance you need to begin your process. Click on the “Contact Us” button below and fill out the information. We will contact you immediately and assist you with all that you need to do.
Talk to a certified investment expert today.