Permanent Residency via investment in a Fund or Share Capital

Cyprus has recently revised its Permanent Residency Program ("PRP"), making it more attractive to investors seeking diversification in investment.

Like majority of the countries offering similar programs, Cyprus had the investment into residential real estate (€300,000 plus VAT if applicable) as the only route to obtaining a PRP. This is not the case any more. The following two options of investment are now available:

1. Investment in share capital of a Cyprus company. A company should be based and operate in the Republic of Cyprus and employ at least five (5) people.
2. Investment in shares of Cyprus Collective Investment Funds (type AIF, AIFLNP, RAIF).

Additionally to the above amendment, also the term of maintaining a deposit in a Cypriot bank of the amount of €30,000 is now abolished.

Further to the above, two more points worth mentioning are first the fact that the average period for granting a Cyprus PRP according to the simplified procedure comprises 2-3 months only and second the eligibility of the following relatives of the main applicant to also be granted a PRP:

• Applicant's spouse - in case they wish, two separate PR permits can be issued for each spouse. 
• Dependent minor children up to the age of 18 years of the applicant and his/her spouse.
• Single children from 18-25 years old and financially dependent, who prove to be students for at least six more months from the date of the application. They may apply to obtain the “for so long” PR permit for themselves. In this case the parents will need to prove additional income of at least €5,000 a year for each dependent child. The PRP will still remain valid even after the Permanent Residency holder turns 25 years and even if he/she is no longer single and/or a student and/or financially dependent on his/her parents. 

For more information and FREE consultation, please do not hesitate to contact me directly on: [email protected] or +357 96 505725 (WhatsApp, Viber, Telegram, WeChat).