For non-EU nationals seeking to acquire a Permanent Residence Permit in an EU country, Cyprus has proven to be an ideal destination. In an effort to streamline the process for international investors interested in using Cyprus as a gateway for their business in Europe, the Cyprus Ministry of Interior has created a fast-track method to permanent residency.
Primary Requirements
The primary requirement for a Permanent Residence Permit is the purchase of a new residential premise or immovable property in Cyprus with a minimum value of €300,000 (excluding VAT). Once all the criteria are met, the permit is issued within a period of 2-3 months, and covers all family members including children under the age of 25.
Advantages
Unlike in other EU countries, once the Permanent Residence Permit has been issued, applicants have no obligation to reside in Cyprus for 3 months a year. Rather, they must simply visit Cyprus at least once every two years.
How we can help
Garpozis Construction & Developments has a range of properties that qualify for non-EU nationals seeking a Permanent Residence Permit. Our multilingual legal team work alongside clients to provide a tailor-made investment package that fits each individual’s needs.