A Mediterranean Island state, Cyprus is a favored tourist destination and a financial hub. It boasts of famous holiday sites and is a second home for many High Net Worth individuals. Cyprus is also a member of the European Union and Schengen Zone enabling permanent residency holders the right to travel around Europe.
The Government of Cyprus introduced a Fast Track residential mechanism in 2013 called the ‘Category F’ scheme enabling foreign residents who make an investment fulfilling the following requirements, to claim permanent residency in Cyprus:
- Investment in residential or other property through the purchase of property valued at a minimum of EUR 300,000.
- The secured income of a minimum of EUR 30,000 for the main applicant and EUR 5,000 for each additional dependent from abroad.
- A bank account in Cyprus with a deposit of a specified amount of funds.
- A visit to Cyprus every two years to maintain residency status in the country.
In case, the permanent residency holders spend a minimum of 6 months in Cyprus every year, they may become eligible to apply for citizenship in Cyprus after 6 years on the basis of naturalization.
Empire possesses experts who can assist in your application and investment for Cyprus Permanent Residency and ensure that you face minimum hassles.
No designation has been made by the Texas Board of Legal Specialization for a Certificate of Special Competence in this area.