PERMANENT RESIDENCY PROGRAMME
The Cyprus Permanent Residency Programme enables non-EU residents to acquire residency by means of investment. With various benefits inherent to the European residency and the advantages of living and working in Cyprus, the programme offers an attractive and affordable real estate investment route to permanent residency in Europe
- Be an owner of one or two new properties in Cyprus. The property needs to have a total market value of minimum €300.000 plus VAT.
- Maintain a three year fixed deposit of €30.000 with a Cyprus bank.
- Prove that you receive an income of at least €30.000 per year from abroad (salary, rents, dividends, pension, fixed deposits, etc)
- Visit Cyprus at least once every 2 years.
- Original letter from a financial institution in Cyprus for the €30,000 deposit, pledged for three years.
- A statement of secure annual income.
- Title deeds or contract of sale.
- Curriculum Vitae including academic qualifications of the applicant and his/her spouse.
- Official declaration of no intention to work in Cyprus.
- Health insurance policy for the applicant and his/her dependents.
- Copy of valid passport of the applicant and his/her dependents.
- Copy of birth certificate of the applicant and his/her dependants.
- Marriage Certificate duly certified (official and certified translation).
- Due diligence and background check report.
- Clear criminal record of the applicant and his/her spouse.
- 2 passport size photos of the applicant and his/her dependents.
- A highly efficient application process which is reviewed within two months.
- The investor has the right to sell and keep the PRP as long as he replaces the property with another worth at least €300,000.
- The Cyprus PRP is a lifetime permit with no expiry date.
- Language examination is not required.
- Once granted, the permanent residency permit covers the whole family (applicant, spouse and children under 18 years old)
- Dependent children between 18–25 and parents of the applicant are also eligible to obtain permanent residency.
- The whole process can be arranged without being present in the country.
Our team of experts will be happy to assist you throughout the entire application process, from providing advice about the residency application process, helping you choose a property developed by Marinakis Developers to providing further administration after the application submission. The procedure is as follows:
Step 1: Choose a property built by Marinakis Developers.
Step 2: Sign the contract of sale, open an account with a Cyprus bank, transfer deposit amount of €30.000, receive a receipt issued by Marinakis Developers.
Step 3: Collect all the important required documents and forms and submit them to the Civil Registry and Migration Department. This application can be submitted by a lawyer, you don’t need to be present in the country.
Step 4: Set up an account with Marinakis Developers
Step 5: Wait for the approval by the Immigration department which usually takes less than 2 months.
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