1. Applicants are required to purchase first sale residential property worth €000 + VAT or more.
  2. Applications can be submitted
  3. To start the application, at least €200.000 plus applicable VAT must have been paid and all documents provided to the lawyers.
  4. One purchase can provide Permanent Residency to main applicant and his/ her spouse and any dependent children under 25 years old given that they are students at university, parents of husband and parents of wife.
  5. €30000 must be placed and blocked in a fixed deposit account in the name of the applicant in Cyprus bank for a period of 3 years. An additional €5.000 euros for spouse and each dependent and €5.000 euros for each parent included on the application.
  6. The applicant must provide evidence of an annual income of €30000 euro minimum which has been originated from abroad.
  7. Holders of Cyprus Permanent Residency cannot work but can own a business (corporate tax 12.5%)
  8. VAT payable for the first purchase in Cyprus is reduced to 5%
  9. After all requirements are met Permanent Residency is obtained within 2-3 months

Document Requirements:

  1. Curriculum vitae
  2. Clean criminal record
  3. Birth certificate of dependent children and parents (if apply together with the main applicant)
  4. Contract of Sale
  5. Receipt of minimum €200,000 Euros plus applicable VAT paid to the Developer
  6. Document for the €30,000 Euros fixed deposit at the bank

Why Cyprus

  1. Strategic location
  2. English spoken widely
  3. Favorable tax for investors, lowest business tax in Europe
  4. No inheritance tax (transferred to the children)
  5. Advanced infrastructure – Education, Banking, Healthcare, Tourism
  6. 300 days of sunshine per year

A.Georgiou Developers

25th March Str. ,
8047, Paphos, Cyprus
(+357) 26 818 680
(+357) 26 221 033
Working hours:
08 – 17 mon-fr

Call Free from Cyprus

8000 6363