1: The applicant must make an investment of at least € 300,000 (investment funds must be from abroad) in one of the following investment categories:

(A) Investment in a residential property: a first sale of property from the developer at least €300,000 (plus VAT).

(B) Investment in a commercial property: such as offices, shops, hotels or similar developments or a combination of these with a total value of € 300,000 (can be resale property).

(C) Investment in the share capital of a Cyprus Company with activities and 5(five) personnel in Cyprus.

(D) Investment in shares of Cyprus Investment Organization Collective Investments (type AIF, AIFLNP, RAIF).

In cases where the applicant chooses to invest as Sections(B), (C) or (D), he must provide information about his place of residence in the Republic (i.e. title deed). real estate, purchase document, rental document).

2. INCOME OF THE APPLICANT AND HIS SPOUSE

• The applicant must prove at least the amount of €30,000 as income for himself, plus €5,000 for each dependent family member, plus €8,000 for each parent and/or parent-in-law.

• The income must derive by legal sources, such as dividends, pensions, rents, salaries etc.
• The income must be created abroad; In cases where the applicant chooses to invest as Sections (B), (C) or (D), his total income or part of it may also come from sources coming from activities within the Republic.

3. DOCUMENTS

3.1 All the applicants above 18 must submit a no criminal record certificate from their country of residence or from the Republic in case they reside in Cyprus and generally do not pose in any way a threat to public order or public security.

3.2 Dependent need to provide the birth certificate to approve the relationship with the main applicants.

3.3 In cases where the investment does not concern the Company's share capital, the applicant and / or his spouse may be shareholders in Companies registered in Cyprus and the dividend income in such companies may not be considered as an obstacle for the purposes of obtaining the Immigration License. They may also hold the position of Director unpaid in such companies.

3.4 All requested documents must be translated into English to Greek language by a certified translator and all official documents must be duly apostilled.

3.5 In case that the country of the applicant where the document is issued is not a party of the Hague Convention of 5th October 1961, abolishing the requirement of legalization for foreign public documents, then the document must be legalized by the Ministry of foreign affairs and the Cyprus Embassy of that country.

4. SUCCESSFUL APPLICATION

• All requirements are meet;

• All documents must be prepared and legalized correctly.

5. REVOCATION OF THE PERMIT

• When the applicant fails to acquire residence in Cyprus within one year from the date of his approval.
• After the approval, when the PR holder does not visit Cyprus for a period longer than the 2 years continuously.
• Any alienation of the holder of the Immigration Permit from the investment he has made without its immediate replacement with another of the same or greater value, will cause the cancellation of the Immigration Permit.

Q & A GUIDE

1. Is the size of the residence directly related to the number of people applying?

No, it is not related to the number of the people applying. The spouse of main applicant and their dependent children and the main applicant and spouse parents are all eligible to apply for.

2. How long is it takes to obtain the Permanent residence?

Approximately 2 to 4 months

3. Do the children keep the permanent residency after they reach the age of 25?

Yes, their spouse and children are not eligible to have permanent residence card.

4. Am I able to sell the residence after obtaining the permanent residency?

The residence is strictly connected to the permanent residence. Selling the purchased property without an immediate replacement with another property of the same or/and higher value and in accordance with the conditions of this procedure, will result to the cancellation of the Immigration permit by the government.

5. Can I work when permanent residency obtained?

The holders obtain the permanent residency under 4C is allowed to work as active remuneration director in the Company that he is invested in.

The holders obtain this permit under other criteria are not allowed working in Cyprus, but they may own a Cyprus company and receive dividends from its profit and active as non-remuneration director.

6. What are the benefits obtained once permanent residencies is approved?

• High quality education with lower tuition (before 18 years old)
• Have the right to join the Cyprus General Healthcare System
• Acquisition of property is freehold
• Cyprus has low crime rate in Europe.
• There is no inheritance tax.
• There is no property tax.