Permanent residence permit in Cyprus

ПМЖ на Кипре - постоянный вид на жительство через инвестиции в недвижимость
14 December 2020 DOM LiVE
2947 0

Cyprus is a beautiful island, perfect for a vacation, as well as relocation.

Have you ever thought about having a second home? About spending your holidays on the Mediterranean coast and enjoying summer all year round? Or even about moving to a warm place and living here permanently? Yep, all this can be realized quite easily through permanent residence in Cyprus.

Permanent residence permit (PR visa) can be obtained through the purchase of real estate on Cyprus. It allows you and your family to live in a European country, easily obtain visas to any other country, including Schengen zone countries and the United States. This also can give you the opportunity to get a good European education for children and medical care in case of an unforeseen situation.

Why do you need to contact the DOM Real Estate in Cyprus and obtain a residence permit on the island?

  • The minimum property value is only € 300,000 excluding VAT. Moreover, until the submission of documents, you can pay the developer only € 200,000.
  • All paperwork will be completely free for you. DOM Real Estate Agency Cyprus provides a lawyer who can take over the entire process of preparing and submitting all documents.
  • Fast turnkey registration: it takes only 2 months.
  • If you want to participate in the program, you can invest in real estate under construction, and save up to 30% of your budget.
  • You can register the purchase of real estate and obtain a residence permit remotely, with the assistance of a qualified specialist.
  • Permanent residence permit is given for the whole family (spouses and children under 18).
  • Unmarried 18-25 y.o. financially dependent children, who are getting higher education and will study for at least 6 months, may apply for an immigration permit after paying the fees. In such a case, the father or/and mother must submit an additional annual income of € 5,000 for each such dependent child.
  • You will have an opportunity to get a European education for your children and a discount for studying at universities.
  • Permanent residence will allow you to live on the shores of the Mediterranean Sea without any time limit.
  • You will have to visit the island only once every two years. You do not need to move here on a permanent basis.
  • Knowledge of Greek is not required. DOM real estate agency will provide a translator for free, to carry out all the necessary procedures for the paperwork.
  • The permanent residence program in Cyprus applies only to new buildings. You will receive new quality housing from a trusted developer, where no one has lived before.
  • Cyprus tax residency is a low tax base, the dividend tax is 0%. In any case, it is up to you to decide if you want to become a tax resident of Cyprus or not.
  • You will have free medical assistance.
  • In Cyprus, you can easily apply for a visa to any other country, including the Schengen countries and the United States.
  • You will be able apply for Cyprus citizenship by naturalization in 7 years.
  • Your real estate in Cyprus can be rented out and can give you a constant income.
  • Permanent residence gives the right to open an international company and do your business from Cyprus.

What are the main conditions for obtaining a residence permit through the purchase of real estate in Cyprus?

  1. Buy a new real estate in Cyprus for at least €300,000 excluding VAT (*)
  2. Make a payment of at least €200,000 to the seller's account
  3. Provide confirmation that payment is made from funds received outside of Cyprus
  4. Provide proof that the annual income is at least €30,000 outside Cyprus
  5. Open a bank account in Cyprus and transfer €30,000 (after obtaining a migration permit)
  6. Provide the necessary documents, including certificate of good conduct with an apostille, etc. (full list of documents below)

(*) It is possible to purchase one or more properties:

  • one house / apartment
  • one house + one apartment
  • two apartments or two houses
  • one apartment / house + one warehouse / store up to 100 m2
  • one apartment / house + office space up to 250 m2.
  • All properties must be built by the same developer.

The procedure for obtaining a permanent residence permit in Cyprus

The specialists of the DOM Real Estate Agency in Cyprus are ready to help you in obtaining permanent residence, to deal with all the issues related to the buying of real estate, as well as the paperwork for free.

The process will look like this:

STEP 1: Legal advice

DOM Real Estate Agency provides a qualified lawyer for consultation and preliminary verification of the possibility of obtaining a residence permit.

STEP 2: Searching and purchasing real estate in Cyprus, suitable for the program

If you do not have the opportunity to fly to the island in person, then the purchase of real estate can be carried out remotely.

Real estate agency DOM provides a personal consultant who can find you real estate options that meet the conditions of the program, as well as your personal wishes for the location of the object, the number of bedrooms, distance from the sea. The consultant also tells about all the pros and cons of the objects presented.

Further, the consultant sends a detailed photo report, a recorded video tour, or conducts an online broadcast of the object you like (apartment or house), at any time convenient for buyers.

As you have decided on the property to be purchased in Cyprus, a special lawyer of the agency takes over the entire process of paperwork for the sale and purchase transaction, and also helps open an account with a bank in Cyprus to transfer funds of €30,000 or more.

STEP 3: Preparation of documents for permanent residence

A lawyer helps you to properly prepare a package of documents, as well as make all the necessary certified translations.

STEP 4: Application for participation in the program

The lawyer of the DOM real estate agency submits your documents for a permanent residence permit to the Office of Civil Registration and Migration Control of Cyprus.

 test

STEP 5: Examination of the Cyprus Permanent Residence Application

Personal presence is not required. The Cypriot authorities review the documents and provide a response within 1-2 months from the date of submission. If documents are OK, then the applicant obtains residence permit.

STEP 6: Obtaining a Cyprus Residence Permit

As the applicant receives a positive response and an immigration permit, they need to come to Cyprus within a year to submit their biometric data and receive a plastic card of a resident of the country.

The cost of obtaining permanent residence in Cyprus (Permanent Residence Permit)

The cost of obtaining permanent residence in Cyprus through real estate is:

Program member / spouse / children under 18: €500 fee for each person + €70 registration for each person

List of required documents for obtaining a residence permit in Cyprus

  • A copy of a valid passport for each program participant (family member)
  • Summary
  • Certified translation of marriage certificate
  • Certificate of good conduct for each participant with apostilled translation
  • Documents confirming official income from abroad
  • Ownership or contract of sale of real estate in Cyprus
  • Documents confirming payment for real estate, a copy of SWIFT or confirmation of a Cypriot Bank
  • Original document from a Cyptriot Bank of Cyprus confirming a deposit of €30,000 in the applicant's account

DOM Real Estate Agency specialists have vast experience in resolving migration issues and real estate registration. Therefore, they will gladly go through all the steps to help you obtain a permanent residence permit in Cyprus and provide the necessary support absolutely for free.

Contact Now! (link) And you will be able to enjoy your holiday on the shores of the Mediterranean Sea in two months!

This visa gives you the right to fly in and out to Cyprus as well as reside here permanently even during COVID-19 restrictions.

The following forms are available in electronic form:

Application templates:

  • Immigration permit required documents (download)
  • Immigration permit required documents (for dependent students 18-25 y.o.) (download)
  • Immigration permit required documents (for a spouse and parents) (download)
  • Affidavit of the applicant's annual income (download)
  • Official statement confirming that the applicant and his spouse do intend to work in Cyprus (download)

Read more:

  • Short-term residence permit in Cyprus. Expectation and reality (link)
  • Cyprus Citizenship (link)

Source: DOM LiVE
Photos: Pixabay.com, DOM LiVE
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Компания «Dom Real Estate» Контакты:
Адрес: Limassol, Cyprus,
Телефон:+357 25 212 212, Электронная почта: info@dom.com.cy