{"id":56695,"date":"2022-08-01T12:16:45","date_gmt":"2022-08-01T16:16:45","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=56695"},"modified":"2022-08-01T12:17:30","modified_gmt":"2022-08-01T16:17:30","slug":"exit-cip-enter-cyprus-golden-visa-program-a-popular-investment-immigration-option","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/exit-cip-enter-cyprus-golden-visa-program-a-popular-investment-immigration-option\/","title":{"rendered":"Exit CIP, Enter Cyprus Golden Visa Program: a Popular Investment Immigration Option"},"content":{"rendered":"

The Citizenship by Investment program is history, but Cyprus continues to attract wealthy investment immigrants from across the globe.\u00a0<\/span><\/p>\n

Eclipsed by the high-profile CIP in the past, Cyprus\u2019 permanent residence by investment program<\/a> is slowly but steadily attracting the attention of golden visa investors.\u00a0<\/span><\/p>\n

Permanent Residence by Investment in Cyprus: Two Separate Programs for Investors<\/h3>\n

Cyprus has not one but two separate options for HNIs seeking permanent residence in the EU.\u00a0<\/span><\/p>\n

The first program does not have any minimum investment requirements but has a very long processing time.\u00a0<\/span><\/p>\n

The second program is designed like a conventional golden visa program and results in permanent residence in Cyprus.\u00a0<\/span><\/p>\n

The first program is governed by Regulation 5(f) of the Aliens and Immigration Regulations.<\/p>\n

To qualify, candidates must have an annual income of \u20ac9,568.17 with an additional income of \u20ac4613.22 per dependent person included in the application.\u00a0<\/span><\/p>\n

Candidates must buy a residence in Cyprus within one year of approval of the investor visa application. Candidates cannot engage in any trade or business or profession in Cyprus and your residence permit is valid for a period of five years.\u00a0<\/span><\/p>\n

The permit is renewable so long as eligibility requirements are fulfilled. This visa has a processing time of 12 months.\u00a0<\/span><\/p>\n

The conventional golden visa program of Cyprus is governed by Regulation 6(2) of the Aliens and Immigration Regulations.<\/p>\n

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Read More<\/b><\/p>\n

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To qualify, candidates must invest at least \u20ac300,000 plus VAT in residential real estate in Cyprus. A combination of residential and commercial real estate investment is permitted. However, investing only in commercial real estate will not help candidates qualify for permanent residence.\u00a0<\/span><\/p>\n

Further, candidates must deposit at least \u20ac30,000 for a period of three years in a financial institution in Cyprus.<\/p>\n

Candidates must have a minimum annual income of \u20ac30,000. This requirement increases by \u20ac5,000 for every dependent family member added to the application and by \u20ac8,000 for every dependent parent or parent-in-law added to the application.<\/p>\n

The application is processed in around two months and the residence permit is granted for life. Candidates are free to sell the investment provided they buy a new property of same or higher value within a reasonable period of time.\u00a0<\/span><\/p>\n

This means a candidate\u2019s PR status is linked to holding of the investment, and is retained so long as those requirements are met.<\/p>\n

The Cyprus program is slightly costlier than the Greek program but is cheaper than Portugal. Of course, there are no restrictions on where you can buy a home in Cyprus, which makes it a more attractive option as compared to Portugal, where golden visa investors cannot buy homes in Porto or Lisbon.\u00a0<\/span><\/p>\n

Cyprus is a more stable economy as compared to Greece and is a more popular tourist destination as compared to Portugal and Spain. Investors retain the option of qualifying for citizenship by living in Cyprus, which means the real estate investment can eventually lead to EU citizenship as well.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Citizenship by Investment program is history, but Cyprus continues to attract wealthy investment immigrants from across the globe.\u00a0 Eclipsed by the high-profile CIP in the past, Cyprus\u2019 permanent residence by investment program is slowly but steadily attracting the attention of golden visa investors.\u00a0 Permanent Residence by Investment in Cyprus: Two Separate Programs for Investors…<\/p>\n","protected":false},"author":2,"featured_media":8678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[119,454],"tags":[5692,5940,5942,5946,5944],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.investmentimmigration.com\/wp-content\/uploads\/2017\/01\/Cyprus-Citizenship-Summary.jpg","jetpack_shortlink":"https:\/\/wp.me\/p8hnWW-eKr","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56695"}],"collection":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/comments?post=56695"}],"version-history":[{"count":1,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56695\/revisions"}],"predecessor-version":[{"id":56696,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56695\/revisions\/56696"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media\/8678"}],"wp:attachment":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media?parent=56695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/categories?post=56695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/tags?post=56695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}