The Cyprus Golden Visa comprises the Permanent Residency by Investment Program that was initiated in 2013 for non-EU nationals. Investors can obtain Cyprus permanent residency with an unlimited duration by choosing one of the four investment options. This is a type of visa and it should not be confused with the citizenship by investment program, which has been discontinued since 2020. It is worth noting that Cyprus became an official member of the EU in 2004.
Al Layah ensures the highest success rates through experience and a solid track-record with the different Governments. Every year, we help hundreds of individuals and families to acquire a second residency or citizenship by investment. Al Layah successfully helped clients from over 85 countries around the globe. Most importantly, we have a long-term view of ‘client-advisor’ relationships and commit to our clients for life.
The average processing time to obtain Cyprus residency is 3 months
Real Estate or Shares of Cypriot companies or Shares of Cypriot Investment funds
Minimum value of EUR 300,000 plus VAT (5% to 19%)
Spouse, Children below the age of 18, Dependent children under 25 years of age.
FAST AND EASY
The process is efficient and only takes approximately 3 months.
Spouses and dependent children up to 25 years old are included under one application.
Eligible for Cyprus citizenship after 5 years of living in the country. Once you acquire the Cyprus citizenship and passport you can travel visa free to 177 countries worldwide.
Please note that the Cyprus residence does not grant visa-free travel to European countries or the Schengen zone because Cyprus is not yet a member of the Schengen zone.
LIFESTYLE & TAX
Right to Healthcare for all applicants.
Note that the residency by investment does not give the applicant the right to work, with limited exceptions.
No Tax on Worldwide Income and no Inheritance.
In addition to one of the three investment options, investors must demonstrate an annual income of at least EUR 50,000, and additional EUR 15,000 per year for spouses and EUR 10,000 per year for each dependent. Spouse’s income (if any) can be considered which may include salaries, wages, pensions, dividends, fixed deposits, and rental income.
Golden Visa real estate investment entails purchasing new residential properties from a developer or a resale commercial property. The investment must be paid in full with funds from abroad, not sourced or borrowed within Cyprus.
If the property is for the investor’s personal use, the VAT is reduced to 5%. Residential properties must be new, off-plan properties are included irrespective of the delivery date. Commercial properties may include offices, shops, hotels which are resale or used.
To purchase shares or establish a Cyprus company and invest in the share capital. The company must be based and operating in the Republic of Cyprus and have a proven physical presence and an employee minimum of five (5) people.
Forms of AIF, AIFLNP, RAIF
Cyprus Growth Fund: This fund invests in a diversified portfolio of Cypriot companies.
Cyprus Opportunity Fund: This fund invests in small and medium-sized enterprises in Cyprus.
Cyprus Infrastructure Fund: This fund invests in infrastructure projects in Cyprus.
INCOME REQUIREMENTS
In addition to the investment, the applicant must show a secure annual income of EUR 50,000 from abroad. If the applicant wishes to bring their spouse, the annual income is increased by EUR 15,000 (the spouse’s income can count towards this) and if he wishes to bring dependent children the income is increased by EUR 10,000 for each child.
VERIFICATIONS
There are some verification requirements concerning the investors’ visa. Every year (annually), you should submit evidence that you maintain the investment, and health insurance certificate for yourself and your family. Every three years, you should submit the following a clean criminal record for yourself and your family from your country of origin and residence. Also you must not acquire permanent residence abroad, or absent yourself from Cyprus for two years. In either case, you lose the permanent residence right.
OTHER COSTS
In addition to the required investment, there are other costs for the Cyprus Permanent Residence by Investment program, which are Government Fees, Al Layah professional fees, documents certifications when applicable, courier fees, and other small disbursements. Please get in touch with us if you wish to receive a detailed quotation outlining all costs.
At Al Layah Tours, we specialize in helping non-EU nationals obtain the Cyprus Golden Visa through the Permanent Residency by Investment Program. Launched in 2013, this program allows investors to gain permanent residency in Cyprus with an unlimited duration by selecting one of four investment options. Unlike the citizenship program, which was discontinued in 2020, this residency offers a valuable opportunity for long-term settlement. As an EU member since 2004, Cyprus offers a prime gateway to Europe, making it a highly desirable destination for investors.
Al Layah Tours offers expert assistance to clients, providing tailored solutions for obtaining Cyprus Residency by Investment. With established partnerships with legal experts and government entities, we ensure that every investment meets the required criteria for a successful application. We offer access to exclusive investment opportunities and manage all documentation and processes from start to finish, ensuring your application is handled efficiently. With a strong track record of serving clients from over 85 countries, Al Layah Tours is committed to offering long-term support and guidance, making your residency journey seamless and secure.
