TERMS OF CYPRUS RESIDENCE PERMIT APPLICATION:
RESIDENT PERMIT LONG STAY (PINK SLIP)
A tourist who wishes to stay in Cyprus for more than 3 months can apply for Resident Permit Long Stay. It always the applicant to live in Cyprus without the right to be employed.
1. The important reequipment is to show secured annual income of €10.000 euro, and €5.000 for each additional dependent minor child.
2. Long-term rent agreement in Republic of Cyprus duly certified by the regional council.
3. Deposit at the Cyprus bank guaranty. The amount depends on the nationality.
4. Open a bank account in the territory of Cyprus. The benefit is that you can continue residing legally in Cyprus after the application was filed. The physical presence of applicants is obligatory.
RESIDENT PERMIT CATEGORY F
Wealthy foreign citizens living in Cyprus can obtain a permanent residence permit of Category F. Unlimited duration of Residency permit. The basis for obtaining a permanent residence is:
1. a guaranteed annual income received from abroad, of €10.000 for the applicant and €5.000 for each other dependent, confirmed by the Bank account statement of the main applicant,
2. rent or purchase of property in Cyprus; it is not an obligation bout out of practice, it is advisable to purchase a property with a minimum amount of €100.000.
3. documents confirming the ownership of property or business in the country of origin.
4. proof of secured income (dividends, rental income, salary)
* Immigration department may also require proof of additional funds.
The period of examination is up to 1 year.
RESIDENT PERMIT CATEGORY 6(2) FAST TRACK
This process always you to acquire a residence permit within 2 months after applying. Invest the amount of 300.000 into the following categories:
1. Purchase of new residential property with a minimum price of €300.000 (+VAT). You can purchase residential property from two different developer companies with a total investment amount or higher.
2. Purchase of property, not including residential, with a minimum price of €300.000. Purchase of secondary property is also applicable. Such property can be Offices, warehouses, shops, etc.
3. Invest in the share capital of Cyprus company, duly incorporated in the Republic of Cyprus curries its business in Cyprus and which employs at least 5 people.
4. invest in AIF, RAIF. *Purchase of Property can be done through a company duly incorporated in the Republic of Cyprus.
The applicant has to have a minimal annual income of €30.000 ( plus €5.000 for each dependent (spouse and children) and by €8.000 for every dependent parent or parent-in-law)) The applicant has to submit an affidavit of confirming non-employment in Cyprus, however, the applicants can be a director of the company invested in share capital and/or they can be shareholders of a Cyprus company through which they can receive dividends. The applicant has to provide a Certificate of Clean Criminal Record. Its validity is 3 months from the date of issue. The above is of the essence, however, other documents may be requested by the Immigration department.
It is noted that in Cyprus VAT is paid on services and only on new real estate. The VAT percentage is 19%.
The buyer has the right to submit an application to the tax authorities, the VAT department, to lower the rate to 5% VAT. Contact us for more information.
Buy property from € 300K with Majesty Real estate, and we will make registration of a residence permit of category 6.2 free of charge.
* This exclusive offer is valid until July 31st. Hurry up to leave a request!
BENEFITS OF CYPRUS RESIDENCE PERMIT:
1. You will be able to run a business in Cyprus and receive dividends as a shareholder of such a Company without any legal limitations incurred by the government of Cyprus.
2. You have to visit Cyprus at least once in 2 consecutive years to maintain your residency. This is beneficial as several other countries require multiple visits per year.
3. You can freely fly to Cyprus without any restrictions implemented by the Ministry of Health for fighting the expansion of COVID-19.
4. You can enjoy various tax benefits offered in the Republic of Cyprus.