With Cyprus having a very important Strategic position and having already established itself as an international financial center, it is one of the most popular destinations for foreign companies to set up a base for direct investments and for supplying expanding markets in the EU. As one of the busiest transit trade centers in the Eastern Mediterranean, Cyprus is becoming more and more attractive to companies from Russia, China and in general the entire Middle East ,wishing to reach the European market and with its stable legal system, low corporate tax rate (currently has the lowest in Europe at 10%), and extensive double treaties network with more than 40 countries. The island has seen a steady rise is companies coming to Cyprus since joining the EU in 2004.
It is now very easy for a non-European citizen to obtain a permanent residency in Cyprus, and therefore have easier access to the rest of Europe too. With a minimum property purchase of €300,000 (Euros) applicants have the right to apply for Cyprus Permanent Residence. All applicants will need to provide Bank statements and prove that they have a stable means of income, a clean criminal record and private health insurance. Once they have purchased the property they are able to live here immediately with a temporary residence permit. However there is no minimum residence time required in Cyprus. Once the property is purchased the clients can fly back to their country; and they will be allowed to apply for a multiple Entry Visa allowing them to enter Cyprus as often and as many times as they like. After a few months applicants will receive from the government of Cyprus their Permanent Residence.
The residence permit applies to their spouse and all children under the age of 18, however for other cases such as children older than 18 or grandparents a family unification application can be made for them to live as permanent residents in Cyprus also.
We offer assistance to all of our clients with this process.