S&A announces an opportunity for non-EU nationals to acquire Permanent Residence Permit (PRP) in Cyprus through an expedited application process under Regulation 6(2) of the Aliens and Immigration Regulations. This fast track route requires a minimum investment of EUR 300,000 (plus VAT, where applicable) and provides a pathway to residency with benefits spanning family inclusion and long-term financial planning opportunities.
Investors can choose from several asset categories for investment, each designed to suit different investor profiles and needs. The first option includes investment in new residential properties such as houses or apartments directly from developers, with the possibility of acquiring up to two units provided the combined acquisition cost meets the minimum investment requirement. This offers investors the chance to become part of vibrant communities in Cyprus.
For those interested in commercial real estate, options include purchasing offices, shops, hotel units, or a combination thereof. These properties can be new or resales, with investments made personally or through a corporate vehicle. The commercial real estate route does not restrict the timeline of purchase prior to the application submission.
Another investment route involves entering the Cyprus business landscape by investing in the share capital of a local company that is based and operates out of Cyprus, employs at least five people, and has a proven physical presence. This option uniquely allows investors to potentially engage directly with their investment by taking on roles such as salaried directors, depending on the specifics of their investment.
Alternatively, investors may choose to invest in units of Cyprus Investment Organisations of Collective Investments, which include forms such as AIF, AIFLNP, and RAIF, diversifying their investment portfolio within the Cypriot economic structure.
To qualify under any of these investment categories, the applicant must demonstrate a secure annual income of at least EUR 50,000, which increases by EUR 10,000 for each dependent child and EUR 15,000 for each spouse. Income considerations vary slightly depending on the chosen investment category, with the possibility to include income from within Cyprus under certain conditions.
The PRP extends beyond the investor to also cover immediate family members including spouses and dependent children up to 18 years old. It also includes parents of the main applicant or their spouse, and unmarried children between 18 to 25 years old who are financially dependent and enrolled in higher education. For non-dependent adult children wishing to be included under the same application, an additional investment of EUR 300,000 per child is required.
While the PRP allows holders various participatory rights in Cyprus companies, such as acting as non-salaried directors or receiving dividends, it does not permit holders to engage in any form of employment outside these parameters. It is crucial for PRP holders and their dependents to not be absent from Cyprus for more than two years at a time to maintain the validity of their residency status.
For those seeking guidance through the application process, S&A provides expert legal and property consultation services. From selecting suitable properties or investment opportunities to handling the intricacies of the application process and setting up a local bank account, S&A is equipped to assist at every step.
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For more details on securing Permanent Residency in Cyprus through investment, interested parties are encouraged to contact S&A by phone at +357 22 516 671 or via email at c.savva@savvacyprus.com or info@savvacyprus.com.
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For more information about C.Savva & Associates Ltd, contact the company here:
C.Savva & Associates Ltd
Savva Associates
357 22 516 671
info@savvacyprus.com
15 Vyzantiou Street Strovolos, Nicosia 2064
