About PR Fast Track
After its 3rd Revision on 24/03/2021, the major criteria for granting a Permanent Residence Permit the criteria of granting a lifetime Cyprus P.R. permit were modified as below:
The applicant must invest at least €300,000 in one of the following investment categories:
- Investment in a house/apartment: Purchase of a house or apartment from a development company, which should concern a first sale of at least €300,000 (plus VAT).
- Investment in real estate (excluding houses/apartments): Purchase of other types of real estate such as offices, shops, hotels or related estate developments or a combination of these with a total value of €300,000. The purchase of interest can be the result of a resale.
- Investment in Cyprus Company’s share capital, with business activities and personnel in the Republic: Investment worth €300,000 in the share capital of a company registered in the Republic of Cyprus, based and operating in the Republic of Cyprus and having a proven physical presence in Cyprus and employing at least five (5) people.
- Investment in units of Cyprus Investment Organization of Collective Investments (forms of AIF, AIFLNP, RAIF): Investment worth €300,000 in units of Cyprus Investment Organization Collective Investments.
*Other minor requirements also apply. More details can be found here: More info
Permanent Residence Permit Benefits
- Cyprus Residence Permit (PR) is permanent and there is absolutely no need for future reconsideration. It is a lifetime permit.
- Express procedure (2 months to be approved).
- No residency requirement. Maintain Permanent Residence status by visiting Cyprus once every 2 years.
- Permanent Residency for entire family (spouse and children up to age 25 & parents in law). This investment covers the application of the buyer and up to 3 generations of the family.
- Safe and highly profitable investments, with potential profit from renting your property.
- Eligibility for Cyprus’s favourable tax rates at 12.5% (Lowest corporate tax in EU)
- Cyprus PR holders may apply for citizenship in 5 years if all the conditions have been met.
- No language proficiency tests
- Easier to travel within the European Union.
- Hassle-free process where our advisors will assist you in every step.
- No need to visit Cyprus before PR is granted.
P R.
Why Cyprus
# 1 Bathing water quality in European countries for 2019
It’s amazing coastline is the reason Cyprus is ranked 1st among all European countries for the quality of its bathing sites showing how well environmental protection measures are implemented.
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320 days of sunshine per year
Warm weather and clear sunny sky is very common with around 320 days of sunshine per year to enjoy the beautiful scenery and beaches.
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# 5 Safest country in the world
The result was the outcome of analysing seven different data categories (population, CO2 emissions, life expectancy, the number of police personnel per 100,000 people, thefts, assaults and traffic deaths) and concluded Cyprus as one of the top 5 Safest Countries in the World.
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#19 in Prime International Residential Index
Cyprus is ranked 19th in 2020 PIRI Knight Frank Wealth Report with an increase of 4.3% in the prices of luxury residential properties in 2019 outperforming cities like Barcelona, Tokyo, Rome, Dubai and New York.
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#25 in the worlds ranking in % of students achieving advanced scores
In Cyprus, private education is tailored to the needs of foreigners, giving their children the chance to get a proper education without the need to use Greek as the main communication language. Several high-standard private schools exist thru the island.
Read more100 % refundable VIP Inspection trip
- Exclusive & luxurious arrangements from the moment you arrive at the airport
- Luxury 5* Hotel Accommodations
- Lunch & Dinner in elegant restaurants
- 24h Dedicated driver
- Inspection and viewing of various unique projects & properties across the island
- Meeting with Legal & Financial Consultants
- Opening of Bank Accounts
- Tailor-made schedule including viewing and tour of local areas
*VIP Inspection trip is 100% Refundable following a successful purchase of property
PR Document Requirements
- Completed and signed Application Form MIP1
- Passport Copy of applicant and his/her dependants (valid for at least one year)
- Copy of applicant’s CV (including academic qualifications)
- Original Letter (Bank Statement) from financial institution (Bank or COOP) of a deposit of €30,000 pledged for three years.
- Declaration and Proof of secured annual income from abroad of €30,000 at least (necessary annual income is increased by €5,000 for each dependant person, plus €8,000 for each of the parents.
- Proof of a payment of at least €200,000 + V.A.T. for the investment.
- Contract of sale of property in Cyprus of a minimum market value of €300,000 (original or true copy). The applicant must also submit proof that the €200,000 has already been paid for the property.
- Official statement by the applicant and his/her spouse that he/she does not intend to work or be engaged in any form of business in Cyprus.
- Comprehensive Medical insurance cover for the applicant and his dependants.
- Original Certificate of Clean Criminal Record (if the applicant resides abroad, the certificate must be issued by the relevant authorities in his/her country of origin and submitted with an official, certified translation into Greek).
- Marriage Certificate duly certified (official and certified translation)
- Children’s Birth Certificates duly certified (official and certified translation)
- Two passport size photographs
- Other documents and certificates submitted with the application.
Free consultation form
Steps & Timeline
PR Steps & Timeline (2 months procedure)
- Talk to our advisors
- Explanation of PR scheme and review of applicant’s occasion.
- Presentation of various Investment options.
- Preparation of PR Application
- Permanent Residency application and legal documents are prepared and submitted to the migration department
- Investment in Cyprus of at least €300,000 + V.A.T.
- Approval of PR Permit
- Approval of your Cyprus Permanent Residency Permit within 2 months of submission of the application provided the necessary criteria have been met.
- Actual Permit and uniform card
- Physical Presence is required at this stage to collect your biometric features (fingerprints and photograph) and your signature to issue the cards and permanent residence permit.
