CyprusResidency By Investment
- Real Estate Investment Starting from EUR 300,000
- Right to Live, work & study in Cyprus
- Family Inclusion
- Minimum physical stay requirements
- Path to Cypriot citizenship
Overview
Cyprus Residency by Investment (RBI), or the ‘Golden Visa’ program, offers foreigners three avenues to obtain residency in this EU country in exchange for investment:
- Buying immovable property(ies)
- Invest in a Cypriot company
- Placing money in Funds
The investment threshold stands at EUR 300,000, excluding VAT and other applicable fees. Investments in commercial properties, such as offices, shops, or hotels, can also qualify. However, the property must be brand new, and the purchase agreement must be signed with the developer. Renting out the property is allowed.
Additional Requirements
Only non-EU nationals can apply for Cyprus ‘Golden Visas’. Main applicants are required to demonstrate an annual income of at least EUR 50,000 from sources outside of Cyprus, increased by EUR 15,000 for a spouse and EUR 10,000 for each minor child. All applicants must have a clean criminal record and be in good health. They also must not be included in any EU sanctioned list.
Investors must also confirm that they do not intend to seek employment in Cyprus, except for key positions within the company in which they choose to invest.
Family Inclusion
Main applicants for the Cyprus ‘Golden Visa’ program can include spouses, minor children up to 18 years old, as well as financially dependent children under 25 years old in the RBI application.
Permanent Residency & Citizenship
Successful applicants for the Cyprus RBI program are granted one-year residence permits. During this period, they must travel to Cyprus to provide biometrics and obtain permanent residence status. The permanent residence ID cards are valid for five (5) years, but to maintain this status, it is necessary to keep the investment and visit Cyprus once every two years.
Cypriot permanent residents become eligible to apply for Cyprus citizenship after five (5) years of legal residence, subject to meeting additional requirements.
Benefits
Visa-free travel
Potential ROI (Return on Investment)
Healthcare & Education
High Living Standards
Tax Optimization
Low Residency Requirement
Investment Options
| Investment in a real estate | EUR 300,000 (plus VAT of 19 percent) |
The property must be brand new and can be either residential or commercial, including offices, shops, or hotels.
| Investment in research and development at public or private research institutions | EUR 500,000 |
Investors are required to physically reside in Cyprus and actively participate in the company’s day-to-day activities. The enterprise must create at least 5 new jobs.
| Investment in artistic production, recovery or maintenance of Portugal’s cultural heritage (includes film production) | EUR 250,000 |
Investments in compartments of Cypriots UCITS (the Undertakings for the Collective Investment in Transferable Securities), such as AIF, RAIF or AIFLNP.
AIF – Alternative Investment Fund
AIFLNP – Alternative Investment Fund with Limited Number of Persons
RAIF – Registered Alternative Investment Fund
Other Applicable Fees
| Legal services | at least one (1) percent of the transaction amount, increased by one (1) more percent and EUR 500 per added family member in the application. |
| Due Diligence | EUR 25,000+ |
| Application submission | EUR 500 per person in the application |
| Registration | EUR 70 per person in the application |
| Medical Insurance | EUR 170-380 per person in the application |
| ID card of permanent residency | EUR 70 |
Application Process
Bayat Legal Services’ compliance team will conduct an internal due diligence check, which entails a background security screening of the applicant, Preparation of KYC (Know Your Client) and a qualification assessment.
Bayat Legal Services will meticulously analyze the client's application. Once this is done, the client will proceed to sign a retainer agreement with the firm. Subsequently, Bayat Group will curate a customized list of necessary documents – recognizing that each client's situation is unique – to facilitate the application preparation process.
The application for the Cyprus Golden Visa, along with all the necessary documentation, will be submitted to the pertinent Cypriot authorities.
Applicants will choose their preferred investment option and open a bank account in Cyprus to streamline future financial transactions related to the application.
The processing time for the Cypriot Golden Visa applications can vary, but generally lasts 2-3 months. once approved, applicants will receive residence permits allowing them and their family members to enter and live in Cyprus. It's important to monitor the residence permit's expiration date and renew it promptly every five years.