Cyprus Investment Criteria for Cyprus Investor Immigration Program
The investor must fulfill the following investment Cyprus Investment Criteria’s conditions:
- Deposit a sum of not less than €30,000 in an account with a financial institution in Cyprus. The deposit must be confirmed by a letter issued by the financial institution. The deposit should be pledged for a period of at least three years. The amount so deposited in the account should have been transferred to Cyprus from abroad.
- Submit proof that the applicant, either alone or together with his or her spouse, has a secured annual income of an amount not less than €30,000. The income should be derived from a country other than Cyprus and can include income from salary, pension, dividend from shares and other instruments, fixed deposits, and the rent etc. The minimum income requirement will increase by €5,000 for every dependent person included in the application for Immigration Permit.
- Purchase a dwelling or any other property with a total market value of not less than €300,000 excluding VAT and other charges. Other conditions related to the property include:
- The applicant must submit title deed or contract of sale that has been deposited with the Department of Lands and Surveys. The said title deed or contract must be made in the name of the applicant or spouse.
- The applicant must submit proof of payment of a sum not less than €200,000 towards the above-mentioned or transaction irrespective of the date on which the building or property is to be delivered.
- The applicant must make full payment of the value of the property from an account in a financial institution in Cyprus using funds transferred from abroad.
- The dwelling or property can be purchased in the name of a company provided
- The entity is registered jointly in the name of the applicant and spouse or in the name of the applicant only, and
- Applicant and/or spouse must be, either directly or through shareholding of another company, the sole shareholders of the legal entity that has purchased the property.
- To comply with the property investment requirement, the applicant can purchase the following properties that meet the minimum value requirements.
- Two combined or independent housing units like apartments or houses, or
- A housing unit and a shop of an area of up to 100 sq. meter, or
- A housing unit and an office of an area of up to 250 sq meter.
- The property purchased as described above should have been sold for the first time by a development company.
- All the properties must be acquired from the same company.
- Purchase of re-sold dwellings will not be considered eligible investment.