Cyprus: The Mediterranean island residency you can invest in today
For today’s article, we’ve got an interesting residency by investment scheme to explore in Cyprus, an island nation in the Mediterranean...
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Cyprus
Overview
Cyprus, an island nation in the Mediterranean Sea, offers a rapid pathway to residency for those of you looking to make the move overseas. This county is a fantastic destination, including their ideal Mediterranean climate, delicious cuisine, and picturesque beaches. They offer a safe and secure environment with a high quality of living and warm climate.
The nation is also extremely advantageous in terms of business links, taxes, and the low investment threshold it has when compared to some of its other EU member neighbors.
You can also bring your loved ones to this experience.Within one application, you, your spouse, children as well as your parents can all register your desire for residency in the nation, meaning Cyprus is also a perfect destination for families.
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Minimum investment of €300,000
Between 2 and 3 months
Visa-free access to 143 countries, including EU Schengen Area
Dual citizenship
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Investment options:
You have four options, all of which cost the same, they are outlined below:
• €300,000 + VAT investment in new residential property. • €300,000 + VAT investment in 2 new or used commercial properties. • €300,000 investment in share capital of a Cypriot company employing 5 or more people. • €300,000 investment in Cyprus Investment Funds Association’s collective investments.
The Cyprus digital nomad visa is limited to UK citizens, as well as other non-EU citizens.
This opportunity gives remote workers the right to live and work remotely on the island for 12 months and can be renewed for an additional 24 months. Unfortunately the program had a limit to give 100 temporary residence permits, but luckily, it was increased to 500.
Am I eligible to apply?
Every digital nomad can apply for this opportunity but there are a few requirements to follow:
- You’re a national from a non-EU and non-EEA country.
- Proof of a monthly income of €3,500 after taxes.
- You’re employed at a company registered abroad or are self-employed offering services remotely for clients located abroad.
- Police clearance certificate from the applicant’s country of residence.
- Private medical insurance.
Digital Nomad Visa
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
Does this residency allow me to obtain citizenship?
Yes, a resident of Cyprus after completing five years of legal stay in the country is entitled to apply for Cyprus Citizenship.
For how long will I have the residence?
This residency has unlimited duration.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example an employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
Can I bring my family in this experience?
Yes, You can bring your loved ones to this experience. Within one application, you, your spouse, children as well as your parents can all register your desire for residency in the nation.
Is dual citizenship accepted in Cyprus?
Yes, it does. Cyprus allows dual citizenship which means that you don’t have to give up on your current citizenship.
With what currency must the residency programs be paid?
This residency program should be paid in euros.
How strong is the Cyprus visa?
This visa is strong providing you visa-free access to 143 countries, including EU Schengen Area.
Can the residence be purchased with an investment in Real Estate?
Yes, you would have to make an investment in new residential property.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to Cyprus?
The whole process can be arranged without being present in the country. However, a visit is required for biometric capturing.
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