Permanent Residency highlights 

Minimum investment amount

Investors must invest minimum 300,000 EURO in one of the following investment categories:

• Investment in a house/apartment: Purchase of a house or apartment from a development company,
• Investment in real estate (excluding houses/apartments): Purchase of other types of real estate such as offices, shops, hotels or related estate developments or a combination of these with a total value of €300,000.
• Investment in Cyprus Company’s share capital, with business activities and personnel in the Republic: €300,000 in the share capital of a company registered in the Republic of Cyprus, based, and operating in the Republic of Cyprus with proven physical presence in Cyprus and employment of least five (5) people.
• Investment in units of Cyprus Investment Organization of Collective Investments (forms of AIF, AIFLNP, RAIF): Investment worth €300,000 in units of Cyprus Investment Organization Collective Investments.

The applicant must prove a secure annual income of at least 30,000 EURO. A 5,000 EURO will be added for each dependent family member and 8,000 EURO for each dependent parent (of the applicant and/or his spouse).

Family Reunification

Both spouse and children under the age of 18 years old can be included in the investment program. Furthermore, residency can be extended to parents of both spouses. 

Employment

Applicants and their spouses cannot undertake any employment under this investment program. If the applicant has chosen the investment in a Cypriot company, the individual can be employed as the director of the company.

Investment Eligibility

Applicants need to meet the following requirements:

• Non-EU/EEA country citizen
• Min 18 years old
• No criminal record
• Obtain medical insurance
• Good character

Schedule

Approximately 2 months from the submitted date of the application

Author: Maria Georgiou

This content appears as a courtesy of Georgios K Georgiou LLC, a proud member of the China Collaborative Group (CCG Association). It is informational in nature and does not constitute legal advice or establish an attorney-client relationship between you and its author, publisher or any member of CCG. For more information related to its content, please visit www.georgioullc.com

The post Global mobility: permanent residency by investment in Cyprus appeared first on China Collaborative Group.

Failure to pay the fee in a timely manner will subject to penalities:

•  Late payments made by August 2022 shall face a penalty of 10% plus the annual tax fee €385.
• Late payments from 1 September onwards shall face a penalty of 30% plus the annual tax €385.
• Failure to pay the annual fee can result in being striked off the company from the Register.

The annual levy fee is highly recommended to paid within 30 June 2022.

This content appears as a courtesy of Georgios K Georgiou LLC, a proud member of the China Collaborative Group (CCG Association). It is informational in nature and does not constitute legal advice or establish an attorney-client relationship between you and its author, publisher or any member of CCG. For more information related to its content, please visit www.georgioullc.com.

The post Cyprus Alert: Annual Levy due by June 30th 2022 appeared first on China Collaborative Group.