Cyprus Golden Visa: Investment Requirements and Eligibility Criteria
At Elesma, we provide expert guidance on obtaining the Cyprus Golden Visa, offering full support to help you and your family achieve permanent residency through investment. Below, we outline the necessary investment, the rules, and the criteria required to secure this prestigious visa.
Investment Requirements
To qualify for the Cyprus Golden Visa, applicants must make a financial investment in the country. There are several investment options available, allowing you to choose the one that best aligns with your financial goals and preferences.
1. Real Estate Investment:
- Minimum Investment: €300,000 (excluding VAT)
- Details: Applicants must invest in one or more residential properties, which can be either new or resale (used) properties. The properties can be bought from a developer or a private seller. Off-plan properties are also eligible, and the investment must be retained for the duration of the residency.
2. Commercial Property Investment:
- Minimum Investment: €300,000 (excluding VAT)
- Details: Applicants can invest in commercial properties, such as offices, hotels, or retail spaces. This investment can be in new or resale properties. The property must be purchased from a developer or a private seller.
3. Investment in Cyprus Companies:
- Minimum Investment: €300,000
- Details: Applicants can invest in a Cypriot company with physical operations in Cyprus, employing at least five people. This investment can be in shares, equity, or bonds issued by the company.
4. Investment in Collective Investment Schemes:
- Minimum Investment: €300,000
- Details: Applicants may invest in units of a Cyprus-based Collective Investment Scheme (such as an Alternative Investment Fund or a Registered Alternative Investment Fund). These schemes must be licensed by the Cyprus Securities and Exchange Commission (CySEC).
Additional Financial Requirements
- Stable Annual Income: Applicants must demonstrate a stable annual income of at least €30,000. This amount increases by €5,000 for each dependent (spouse and children) and €8,000 for each dependent parent.
- Funds Source: The income must be derived from sources outside Cyprus, such as salaries, dividends, pensions, or rents. However, if the investment is in a Cypriot company, the income can also come from within Cyprus.
Eligibility Criteria
To be eligible for the Cyprus Golden Visa, applicants must meet specific criteria beyond the investment requirements. These criteria ensure that applicants are of good character and have a genuine connection to Cyprus.
1. Clean Criminal Record:
- All applicants and their adult dependents must provide a clean criminal record certificate from their country of origin and any country where they have resided in the last five years.
2. Permanent Residence in Cyprus:
- While there is no requirement to reside in Cyprus full-time, the applicant and their family must visit Cyprus at least once every two years. Additionally, the investment property must be used as a residence for the applicant and their family when in Cyprus.
3. Dependents:
- The main applicant can include their spouse, children under 18, and adult children up to 25 years old, provided they are unmarried, financially dependent on the applicant, and in full-time education. Dependent parents of both the main applicant and spouse can also be included.
4. Health Insurance:
- Applicants and their dependents must have health insurance coverage that is valid in Cyprus.
5. Permanent Residency and Pathway to Citizenship:
- The Cyprus Golden Visa grants permanent residency for life. While it does not directly lead to citizenship, those who reside in Cyprus for at least seven years may apply for Cypriot citizenship, provided they meet the necessary requirements, including demonstrating their integration into Cypriot society.
Application Process
The application process for the Cyprus Golden Visa is straightforward and typically takes 2-3 months. At Elesma, we work closely with our trusted associates in Cyprus to ensure that your application is handled with the utmost care and professionalism. We supervise the entire process from start to finish, ensuring that everything runs smoothly and that all requirements are met.
- Step 1: Initial Consultation: We begin by assessing your eligibility and discussing the investment options that best suit your needs.
- Step 2: Investment Selection and Purchase: Our team assists you in selecting and purchasing the required investment, ensuring all criteria are met.
- Step 3: Application Submission: Through our associates in Cyprus, we prepare and submit your application, including all necessary documentation, to the relevant Cypriot authorities.
- Step 4: Approval and Visa Issuance: Once approved, you and your family will receive your permanent residency permits, allowing you to live and travel freely within Cyprus.
Begin Your Journey with Elesma
The Cyprus Golden Visa offers a unique opportunity to secure residency in a European Union country while enjoying the many financial, lifestyle, and security benefits that Cyprus has to offer. At Elesma, we are dedicated to making the process as seamless and efficient as possible. By working closely with our associates in Cyprus, we ensure that your application is handled with expertise and care, while we supervise the process to give you peace of mind.
Contact us today to learn more about the investment options, eligibility criteria, and how we can help you achieve your goal of obtaining the Cyprus Golden Visa. Let us guide you through every step of the way to secure your future in this beautiful and prosperous country.