WHY CYPRUS
01/
Strategic location, EU member
02/
Favourable tax regime and UK-based legislative system
03/
Education & human talent with highest tertiary education percentage in the EU
04/
Climate (2nd best climate worldwide)
05/
Healthcare (26th out of 195 countries in the Healthcare Access and Quality Index)
06/
Affordable cost of living (35th out of 138 countries in the Numbeo Cost of Living Index)
07/
Security & Safety (64th out of 163 countries in the Global Peace Index)
BENEFITS OF PRP
01/
The foreign holder and family are assured permanent status in Cyprus forever
02/
A second home on a beautiful European island
03/
Entire family is eligible including children up to the age of 25 that are enrolled in a school or university and dependent on their parents
04/
The right to lower university tuition fees in some European countries
05/
The potential to acquire a Cyprus (EU) passport after 7 years
REQUIREMENTS
01/
Visit Cyprus within the 1st year to provide biometrics for PRP, then every 2 years thereafter
02/
Have a minimum overseas annual personal income of €30,000 (combined for applicant and spouse), including €5,000 for each of the applicant’s dependents. The parents of the main applicant and those of his spouse are also able to apply and obtain the Permanent Residence Permit by just showing an extra €8,000 each on the main applicant’s income certificate
03/
Purchase a residential property in Cyprus. If the purchase cost is over €300,000 then the Cyprus Authorities expedite PRP processing time to 3 months (otherwise 6-12 months). There must be proof of down-payment of at least €200,000 excl. VAT
04/
Under the fast track process, it is possible to buy two properties: this can be either (i) two houses (or apts), or, (ii) a house (or apt) + a shop up to 100 sqm, or, (iii) a house (or apt) + an office up to 250 sqm
05/
Deposit €30,000 for three years in a Cyprus bank account
06/
Confirmation that there is no intention to be employed in Cyprus. It is to be noted that the applicant and/or his spouse may be a shareholder(s) in a Company registered in Cyprus and the income from the dividends of such a company in Cyprus are not deemed an impediment for the purpose of obtaining an immigration permit