Legal & Taxes - Kora Real Estates

Advantages of a Cyprus Permanent Residency

The Cyprus Permanent Residency by Investment Programme has emerged as a favored route for non-EU individuals seeking permanent residency within an EU-member state. Its popularity stems from offering one of the most straightforward and efficient pathways into Europe, with most applications processed and approved within a remarkably short period of 60 to 120 days.

To qualify for this program, applicants are required to invest a minimum of €300,000 plus VAT in real estate. This investment not only secures permanent residency but also extends coverage to the main applicant, their spouse, and dependent children. Unlike other residency programmes, Cyprus imposes no language criteria, making it accessible to a wider range of international investors.

Once obtained, the Cyprus permanent residency status is valid for life, providing unrestricted access within the European Union. Additionally, residents benefit from visa-free travel to Cyprus every two years, allowing for convenient and hassle-free entry into the country.

Kora Real Estates offers comprehensive support to applicants of all nationalities navigating this programme, ensuring a seamless and successful process towards acquiring Cyprus permanent residency.

Your Guide to Obtaining Cyprus Permanent Residency through the Fast-track Programme.

The Fast-track Permanent Residence Programme facilitates the granting of a permanent residence permit to foreign investors in Cyprus, subject to specific requirements.
Here’s a detailed guide on how to obtain Cyprus Permanent Residency through this programme:

Step 1:

Select Real Estate Investment Begin by selecting one or more properties for investment. This can be done either by visiting Cyprus to explore available properties or by corresponding with a representative from Kora Real Estates. The minimum investment amount required is €300,000 plus VAT.

Step2:

Payment and Application Once the property selection is finalized, sign the Purchase Agreement and make the initial payment, which should be at least €300,000 plus VAT. Additionally, a Permanent Residency application fee of €500 per applicant is required.

Step3:

Documentation Submission Gather and prepare the necessary documentation required for the residency application. These documents typically include proof of investment, a clean criminal record certificate, valid passport copies, and other supporting paperwork. Submit these documents to the Civil Registry and Migration Department or relevant District Offices.

Step4:

Processing and Approval After submission, the authorities will process the application. The Residency Permit is usually issued within 2 to 4 months from the date of application submission, assuming all requirements are met.

Step5:

Collection of Residency Permit and ID Cards Upon approval of the residency application, you will need to visit Cyprus within one year to collect the Residency Permit and digital ID cards for yourself and any included dependents.

Step6:

Maintaining Residency Status To maintain permanent residency status in Cyprus, you and your dependents must visit the country at least once every two years.