Cyprus Golden Visa: Your Pathway to Residency in the EU

What Is the Cyprus Golden Visa?

The Cyprus Golden Visa program, formally known as the Cyprus Permanent Residency By Investment Program, was established as part of the country’s efforts to attract foreign investment and boost its economy. Introduced in 2013, this program aims to encourage non-EU nationals to invest in Cyprus by offering them and their families the opportunity to obtain permanent residence in the country.

A Brief Overview of the Cyprus Golden Visa Program

The Cypriot government issues the Permanent Residence Permit to non-EU citizens who are willing to invest in the country.

This permit opens a plethora of beneficial doors for the permanent resident, including the freedom to live, work and study in Cyprus.

All in all with this permit, one is entitled to the status of a “Freeman” of the European Union.

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Eligibility Criteria For Cyprus Permanent Residency How To Qualify?

To qualify for the Cyprus Permanent Residency Program, you must meet one of the investment routes below:

Property Investment

Minimum Investment: Invest in a new residential property in Cyprus that costs at least €300,000, not including the value-added tax.

• First-Time Sale: The property must be an initial sale, bought for the first time from a property development company.
• Annual Proof of Ownership: You may also be expected to submit proof that you still possess the capital once a year.

Bank Deposit

• Minimum Deposit: Hold and operate a Bank account in Cyprus that is a fixed deposit for three consecutive years with a minimum value of €30,000.

Cyprus Golden Visa Requirements

Annual Income

Minimum income: Provide proof of a verifiable annual income secured from sources other than Cyprus, no less than € 30,000.

Dependent increases: This amount is higher for dependents:

• Spouse: €15,000
• Minor child: €10,000
• Adult dependent: €5,000

Annual Proof of Income: Present evidence that you still earn the stipulated income annually.

Due Diligence

Fit and proper test: You are subjected to the Fit and Proper test to determine your character and fitness for permanent residency in the country.

Clean criminal record: Include an original and valid criminal record certificate.

Visits to Cyprus

Initial visit: Register your biometrics within the first year of being in Cyprus.

Subsequent visits: Consequently, Cyprus should be visited at least once every two years.

Important Information

Family members: They can apply and include their spouses and dependent children in the application.

Tax residency: Although Cyprus has many tax advantages, it is possible to be taxed in the country of origin as well.

Language proficiency: In Cyprus, it is not essential but it is always helpful to know Greek or English as a foreign language.

It should be pointed out that the requirements and the procedures themselves are subject to change over time. The information provided should be considered general and the latest information should be sought from a professional immigration advisor.

How To Get Cypriot Citizenship

In order to apply for gaining these privileges of Cypriot nationality, the applicant has to reside in Cyprus for 6 months per year in a total of seven years, as a holder of the permanent residence. The same applies to the dependents. In the last year, before they apply for naturalization, they have to reside in the country without any break.

After your application is granted you can be in a position to enjoy all the privileges of Cypriot citizens.

Is Cyprus a Member of the Schengen Area?

No, Cyprus is not currently a member of the Schengen Area, although it is part of the European Union. This distinction is important for those considering the Cyprus Golden Visa, as residency in Cyprus does not grant automatic access to travel within the Schengen Zone.

However, Cyprus has expressed its intent to join the Schengen Area in the future, which could enhance the benefits of the Cyprus Golden Visa program for investors seeking greater mobility across Europe.

Benefits of Cyprus Permanent Residency

Obtaining a Cyprus Permanent Residency Permit offers several significant benefits, including:

EU Residency

Another possible benefit of Cyprus Permanent Residency that can be singled out is the possibility to use all the rights of EU residents. This includes:

Visa-free travel: Most EU countries do not require a visa for permanent residents to enter and work on the foreign territory, thus increasing the chances of traveling to new places and conducting business.

Freedom of movement: Free movement of people means that residents are allowed to live, work and study anywhere within the EU.

Access to EU services: EU citizens are entitled to certain services in the member states inclusive of health facilities, schools and other social amenities.

“Trinity” Europe: EU member states + Eurozone countries + Commonwealth countries.

Quality of Life

Cyprus has a good standard of living climatically. There are not many complaints, it is warm, you can enjoy scrumptious food and find good work. Therefore, residents can indulge in a leisurely life, good health care and a proper education system.

Investment Opportunities

Some of the potential investment areas include Cyprus property as well as tourism. Currently, the country has a steady economy and has a good tax structure hence attracting many investors.

Family Reunification

Family members of the residents are allowed to join them in Cyprus which include the spouse, unmarried dependent children and dependent parents or grandparents. Hence, you can expect to lead a high quality and happy life with your family here in Cyprus.

Business Opportunities

The legal structure in Cyprus is very favourable for doing businesses and there are several schemes available to businessmen and investors. You can set up companies, apply for a loan and benefit from a well-trained labour force.

Education

Cyprus offers a good base for education and there are numerous international schools and universities, which keep on expanding year by year.

Healthcare

Cyprus is sufficiently developed in the provision of healthcare services with a fairly good network of public and private hospitals. People who live in the country, can get top quality treatment.

Cultural Heritage

Apart from the scenic beauty, Cyprus contains a rich history in cultural aspects with structures and archaeological sites dating back to the early years which include traditional villages and castle-like buildings. There are tours and events where it’s possible to learn about these particular sites including their history within the country.

Retirement Destination

Many foreigners consider Cyprus as an ideal place to retire because of the relaxed way of life, natural beauty and lower cost of living.

The Application Process

The Process of Obtaining Cyprus Permanent Residence

Below, we will outline the Visa process in detail. Those interested in applying for the program can reach out to our team for a complimentary consultation via the button below.

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Step 1: Initial consultation with Lincoln Global Partners

During our consultation we will discuss your specific case to understand your needs. We'll present to you how the Cyprus Golden Visa works and elaborate on the process. The required routes to achieve your residency goals will be described to you.

Step 2: Property Purchase

This crucial step is the acquisition of an appropriate property, which will be in accordance with the given investment profile. This involves property search exercises, traveling to Cyprus in order to view potential properties and bargaining with the owners or property developers.

Upon identifying a property of your desire, there are several aspects to consider on how to buy them, which involves signing of agreements, making payment and transfer of the property.

Step 3: Bank Deposit

After buying the property you will be required to open a fixed deposit account in any Cyprus bank. This involves producing other necessary documents including ID and address cards, as well as paying the minimum of €30,000 as a deposit. The deposit is to be kept for no less than 3 years and the accrual of three years interest.

Step 4: Submit Golden Visa Application

Liase with the lawyers to complete your Golden Visa request. Submission of all documents required.

Step 5: Pay Immigration Fees

Request a full cost breakdown to our team, to evaluate all required fees.

Step 8: Receive Your Residence Permit

After approval, you will be notified and must travel to Cyprus to complete the process, collect biometrics and receive your residency card.

Cyprus Golden Visa Required Documents

Once you’ve completed the property purchase and bank deposit, you’ll need to gather the necessary documentation to support your application. This may include:

• Visa forms
• Valid passport
• CV of the main applicant
• Tax returns
• Proof of annual income of at least €50.000
• Proof of the Investment
• Criminal record from the country of origin and/or residency
• Birth, marriage, divorce certificates
• Proof of employment
• Health insurance

Cyprus Golden Visa Cost

To qualify for the Cyprus Golden Visa program, one must showcase proof of funds of at least € 30,000 and complete a qualifying investment of € 300,000 in one of the eligible investment routes, as described above.

Other costs should be taken into consideration, some of the fees include:

• Certification fee for POA: €70,00
• Immigration application fee: €500 / family: principal applicant + spouse + minor children. Adult children: €500 /person.
• Card production fees: €70,00

Other costs are also involved, including legal fees, notorization fees, translation and certification fees.

Contact our team by clicking here to request a full and precise cost breakdown, according to your desired investment route.

Can I Include Family Members in the Cyprus Golden Visa Application?

Yes, family members are allowed in your golden visa application process. To include dependent children and spouse, the main applicant must showcase an additional proof of income of € 50,000, proof of marriage/ birth certificate and health insurance.

Apply for the Cyprus Golden Visa with Lincoln Global Partners

Lincoln Global Partners, an international investment migration firm is ready to assist you every step of the way with your Investor Visa application in Cyprus.

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Cyprus Golden Visa : Frequently asked Questions

Checkout our FAQ's or reach out to us directly via the contact form at the bottom of the page with further questions.Can I get residency in Cyprus if I buy a house?

Yes, you can obtain residency in Cyprus by purchasing a property. Under the Cyprus Permanent Residency Program (Golden Visa), you must invest a minimum of €300,000 (excluding VAT) in new residential or commercial real estate to qualify.

Can you get a golden visa in Cyprus?

Yes, Cyprus offers a Golden Visa through its Permanent Residency Program. By meeting the investment criteria and other conditions, you and your family can secure permanent residency in Cyprus.

How much money do you need to get residency in Cyprus?

To qualify for the Cyprus Golden Visa, you need to invest a minimum of €300,000 in real estate (excluding VAT) and demonstrate financial self-sufficiency with a secure annual income from abroad of at least €30,000. Additional amounts are required for dependents.

What are the tax benefits of the Cyprus Golden Visa?

Cyprus offers several tax advantages, including no inheritance tax, a favourable personal income tax rate and tax exemptions for income earned abroad for new residents. Non-domiciled residents may also benefit from no tax on dividends, interest or rental income for a certain period.

How can I obtain Cyprus Citizenship?

Cyprus citizenship can be obtained through naturalization after seven years of legal residency in Cyprus. Alternatively, citizenship by investment was previously available but has been suspended since November 2020.

Do I need to visit Cyprus to complete the Golden Visa?

Yes, you must visit Cyprus at least once during the application process to finalise property purchases and submit biometric data.

How Long Is the Cyprus Residency valid for?

The Cyprus Permanent Residency is valid indefinitely. However it must be renewed every five years for administrative purposes.

Can I purchase property and get the Cyprus Golden Visa?

Yes, purchasing property is the main pathway to obtaining the Cyprus Golden Visa, provided the property is new (not resale) and meets the minimum investment requirement of €300,000 (excluding VAT).

Can I qualify for the Cyprus Golden Visa by investing in commercial property?

Yes, you can qualify by investing in commercial property, such as offices, hotels or retail spaces, as long as the total investment meets the €300,000 minimum.

Is Cyprus part of the Schengen Area?

No, Cyprus is not part of the Schengen Area, although it is a member of the European Union. However, Cyprus is working towards joining the Schengen Zone in the future.

What is the difference between the Schengen Area and the European Union?

The European Union (EU) is a political and economic union of 27 European countries, while the Schengen Area is a zone comprising 27 European countries that have abolished border controls between them. Not all EU countries are part of the Schengen Area (e.g. Cyprus, Ireland), and some non-EU countries (e.g. Norway, Switzerland) are part of the Schengen Zone.