Permanent Residency
The Cypriot government has very recently revised the investment criteria for third country nationals looking into acquiring permanent residency in the Republic.
Investment Criteria
Under the new rules, a third country national can make an investment of at least €300.000 in any one of the following:
- The company is registered in Cyprus;
- It has a physical presence in Cyprus i.e an established office;
- Has employed staff of at least 5 people
It is mandatory to have a residence in Cyprus either owed or leased depending on the investment made, in order to eligible for the permanent residence permit.
Also, although it is not necessary to reside permanently in Cyprus, a successful applicant must not be absent for more than 2 years from the island.
Annual Income
An annual income of at least €30.000, increased by €5,000 for every dependent person (spouse and children)
Clean criminal record & declaration of no intention of employment
The successful applicant must submit a clean criminal record certificate from their country of origin and a declaration of no intention to undertake employment in the Republic other than being employed as director in the Cyprus company they chose to invest in or being a shareholder of a company registered in Cyprus.
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