As experienced Cyprus Lawyers who specialize in Immigration Law we deal with the following immigration matter in Cyprus:
People who possess and have fully and freely at their disposal a secured annual income is high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least Euro 30,000.00 for a single applicant and moreover at least Euro 5,000.00 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary. In order to obtain the status of permanent residence to the applicants, they should buy any property in Cyprus that it is over 300.000 Euros. If the applicant acquires (the Category F) Visa, he/she will be able to bring together his wife and children.
Under the provisions of Regulation 6 (2) of the Aliens and Immigration Regulations investors have the right to acquire permanent residence visa as long they will fulfill the following criteria:
- The applicant must prove that he has at his disposal a secured minimum annual income amounting to €30.000 (employment in Cyprus is not allowed).
- The minimum annual income is increased by €5.000 per year for every dependent person. The annual income should be earned from sources abroad and can include overseas employment income, pensions, dividends etc.
- The application form must be accompanied by a title deed or a contract of sale that has already been submitted to the land registry, for the acquisition of a house, apartment or any other building situated in Cyprus, of a minimum value of €300.000 (excluding VAT). Further, the applicant must submit proof of payment for at least €200.000 (excluding VAT) in respect of the above mentioned property. The Civil Registry and Migration Department will only accept applications for granting immigration permits under the fast track route provided that the above mentioned property is being sold for the first time.