- The process – from the date of the submission of the application – takes only 2 months.
- Applicant and his/her family are included in the Immigration Permit and they are not forcedto live in Cyprus. They have to visit at least once every two years.
- The applicant should purchase a property (house, apartment or any other building) in Cyprus, for a minimum value of €300.000 + VAT (if any).
- It is not necessary for the applicant to have a purchase of a single property buthe/she can combine properties, as long as the total amount is for a minimum value of €300.000 + VAT (if any).
- The immigration permit covers applicant’s spouse and also children under the age of 18. Additionally it coversunmarried children aged 18 to 25, that are students at a University and are financially dependent on the applicant – with proof. At the age of 25 and above the exact permit will be valid for a lifetime without any other additional documents.
- Applicant and/or his/her spouse must proof via documentation that they have an ensured minimum annual income of €30.000 and that they have an increase of € 5,000 per person respectively from sources coming from abroad (salaries, pensions, dividends, fixed deposits, rents).
- The parents of the applicant and of his/her spouse are able to apply and obtain the Permanent Residence Permit by showing an extra 8,000 euros each on the main applicant’s income certificate.
- A minimum capital of €30.000 has to be deposited into an account and to be committed for at least three years. Also, the applicant should submit a confirmation letter from a financial institution in Cyprus that he/she has deposited the above capital into an account. Last but not least it must be proved that the exact amount has been transferred to Cyprus from abroad.
- Any documentation required by the checklist of the Cyprus Government must be submitted by the applicant and his family included in the Immigration Permit
- The applicant and his/her spouse shall confirm that they do not tend to be employed in Cyprus, but that they might be shareholder(s) in a Company registered in Cyprus and that the income from the dividend profits of such a company in Cyprus, do not considered as an hindrance for the purpose of obtaining an immigration permit.
Timeline of Application
- 2 months for compliance
- 1 week for preparation & submission
- 2 months for the processing time
For more information and guidance please email Inter-M Properties – Real Estate Agents, at email@example.com or visit our website at www.intermproperties.com Tel. +357 25 660092 – Fax +357 25 660097.