With its beautiful beaches and tropical Mediterranean climate, Cyprus is
considered an ideal destination for permanent residence for non-EU nationals.
Benefits of a Cypriot golden visa
Cyprus Permanent Residence Program
In line with the Cypriot government’s intention
to increase foreign investment and to help its economic development, Regulation
6(2) of the Aliens and Immigration Regulations has been simplified by the
Ministry of Interior in order to issue residence permits to applicants from
non-European countries who intend to invest in the republic.
Cyprus golden visa requirements
The following requirements must be met:
The applicant must provide supporting evidence of a secured annual income of at least EUR 30,000 deriving from abroad. This income must increase by EUR 5,000 for the spouse and every additional child and EUR 8,000 for each dependent parent. The income may include, for example, salaries from employment, rents, pensions, and dividends from shares.
Procedures
and time frame of the Cyprus golden visa
A fee of EUR 500 is payable with the
submission of the application and EUR 50 extra for biometric capturing. The
application will then be examined by the Civil Registry and Migration
Department and will be submitted to a permanent secretary of the Ministry of
Interior, who will make a decision within two months. Once approval has been
granted, the applicant and all the members of the family must visit Cyprus
within one year to obtain the actual permit.
When
in Cyprus, a visit is organized to the migration office in Nicosia in order to
capture the biometric data for all members of the family applying. The
biometric data can be submitted either with the submission of the application
for residence, during the application process, or immediately after approval.
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