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Residence permit, Visa, Citizenship


Residence permit, Visa, Citizenship

Permanent residence in Cyprus for investment

The investment program of Cyprus makes it possible to obtain permanent residence for investments in real estate from 300 thousand euros.Currently, the processing time for permanent residency in Cyprus is 6-8 months due to a higher number of applicants. Previously, the application review process took only 2 months.

Conditions: it is necessary to purchase primary housing from a developer worth at least 300 thousand euros.

At the same time, it is not necessary to permanently reside in Cyprus in order to maintain the status of permanent residence - it is enough to come twice a year. Permanent residence is indefinite, extends to the family members of the investor and allows you to obtain Cypriot citizenship in five years, subject to all necessary conditions.

Benefits of permanent residence in Cyprus by investment

  • Cyprus resident status in just several months.
  • No government contributions, you only need to invest in real estate.
  • The status of permanent residence is obtained by relatives of the investor, including spouse, children under 25, parents of the investor and parents of the spouse.
  • Permanent residency holders are not required to reside in Cyprus - it is enough to visit Cyprus twice a year.
  • Soft tax regime. No income taxes in other countries, no income tax, income tax and inheritance tax.
  • The opportunity to come to Cyprus, even if the borders are closed. At the same time, life in Cyprus is a right, not an obligation of an investor.
  • After seven years, the opportunity opens up to apply for European citizenship.

IMPORTANT: Permanent residence in Cyprus gives the right to visa-free entry to countries that are only members of the European Union - these are Romania, Bulgaria and Ireland. Residents of Cyprus are allowed to stay in these countries for up to 90 days out of 180.


Citizenship

Cypriot citizenship can be obtained under the following conditions: if a non-resident has lived in the country for at least 7 years, if he invests in real estate in Cyprus in the amount of 2 million euros; if he invests in real estate in Cyprus in the amount of 1.5 million euros + investments in government bonds.

Since 2014, foreign investors have been able to obtain citizenship through the naturalization and investment program. A citizen's passport is issued to the investor, spouse and their dependent children under the age of 28 if they are full-time students.

There are a number of advantages of obtaining citizenship in Cyprus by investing in real estate, namely, the period for consideration and awarding the status of a citizen takes from 3 to 4 months; it is not necessary for investors to live in Cyprus, but at the same time they must visit the country at least once in 7 years, there is no requirement for knowledge and proficiency in the state language; a citizen has the right to participate in the voting of the local government, as well as to participate in the electoral program himself; dual citizenship is possible.

 

Mercury Group experts will not only offer guidance on legal support matters but also extend a comprehensive concierge service to our investors.


Best real estate deals in Cyprus


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