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ABOUT CYPRUS

Nestled comfortably in the Eastern Mediterranean, Cyprus enjoys the warmest climate in the Mediterranean. This makes Cyprus one of the major tourist destinations in the area, but it is also a wonderful place to live, with a high-income economy and a high ranking on the Human Development Index.

As a member of the European Union, Cyprus is the perfect gateway to the European economy and way of life. But because of its location in the Eastern Mediterannean, it is truly at the crossroads of East and West.

GLOBAL RANKINGS:

  • Rank 24 – 2013 – Where to be Born Index – The Economist
  • Rank 39 – 2014 – Doing Business – The World Bank
  • Rank 45 – 2015 – Index of Economic Freedom
  • Rank 33 – Forbes Best Countries for Business Index
  • Rank 5 – 2013 – Knight Frank Global Lifestyle Review 
  • Rank 31 – UNDP Human Development Indicators
LOCATION:Southern Europe, Mediterranean Sea
CAPITAL CITY: Nicosia
TOTAL AREA: 9251km2
TIME DIFFERENCE: UTC+2
LANGUAGE: Greek, Turkish, English widely spoken
GOVERNMENT TYPE: Presidential Democracy
CURRENCY: Euro
GDP (PER CAPITA): $24,500 USD
POPULATION: 1,155,403

INTERNATIONAL MEMBERSHIPS

  • World Trade Organisation (WTO) (1995)
  • Organisation for Security and Cooperation in Europe (OSCE) (1975)
  • The Commonwealth (1961)
  • The Council of Europe (CoE) (1961)
  • The United Nations (UN) (1960) and its Specialised Agencies
  • The World Bank
  • The International Monetary Fund (IMF)

The Cyprus residency program offers a simple and efficient process for obtaining permanent residency. All nationalities outside of the EU are eligible to apply and the requirements are minimal.

INVESTMENT REQUIREMENTS

  1. Applicants must hold a clean criminal record from the country of origin and their name must not be on the list of persons whose property is ordered to be frozen within the EU
  2. The investor must have a secured annual income of at least €30,000. 
  3. Must declare intention to not be employed in Cyprus. 
  4. Applicants must also visit Cyprus within one year of issuance of Permanent Residency to take receipt of their permit and obtain biometrics. 
  5. Must visit Cyprus at least once every two years.

CYPRUS PERMANENT RESIDENCY BY INVESTMENT

The Cyprus Permanent Residency by Investment program requires the following investments:

REAL ESTATE

Minimum Investment – €300,000 (plus VAT)
Applicants are required to purchase a residential property or properties with a total combined value of at least €300,000 (plus VAT). The purchase must be a first time sale direct from a property developer.

FIXED DEPOSIT

Minimum Investment – €30,000
Applicants are also required to make a three year fixed deposit with a Cyprus bank of at least €30,000 for the main applicant and an additional €5,000 for each dependent child or €8,000 for each dependent parent or spouse included in the application. The funds must originate from outside Cyprus.

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