Q1: Who can apply for the Cyprus golden visa?
A1: Third-country nationals (non-EU citizens) who invest in Cyprus.
Q2: What is the legal basis for this permit?
A2: Regulation 6(2) of the Aliens and Immigration Regulations.
Q3: How much do I need to invest to qualify?
A3: At least €300,000 and €300,000 + VAT if you are applying under caterer A, i.e. purchasing a new house or apartment.
Q4: Can I invest in any type of property or business?
A4: You can invest in one of the four approved categories (see investment options below).
Q5: What are my investment options?
A5: You can invest in one of the following four categories:
(A) Buying a new house or apartment
• Purchase a first-sale house or apartment from a development company (up to two units per couple).
• Minimum value: €300,000 + Applicable VAT.
(B) Buying commercial property
• Purchase offices, shops, hotels, or other commercial real estate.
• Minimum value: €300,000 (resale allowed).
(C) Investing in a Cyprus company
• Invest at least €300,000 in the share capital of a Cyprus-based company.
• The company must have a physical presence in Cyprus and at least 5 employees.
(D) Investing in Cyprus Investment Funds
• Invest €300,000 in units of a Cyprus Investment Organization (AIF, AIFLNP, RAIF).
Q6: Where must my investment money come from?
A6: If investing in a house/apartment: Funds must come from abroad, from your personal bank account or your spouse’s (if included in the application). If you or your spouse owns a company abroad, the money can also be transferred from the company’s bank account, as long as the shareholder is included in the application. If investing in commercial property, a company, or investment funds: Part of the income can come from Cyprus-based activities.
Q7: Can the investment money come from a company’s bank account abroad if I own only a percentage of the shares?
A7: No. The investment money can only come from a company’s bank account abroad if you and/or your spouse are the sole shareholders. If you have any other business partners, your application will be rejected.
Q8: Can I sell my investment later?
A8: No, unless you replace it with another of equal or greater value.
Q9: If I invest in a house/apartment (Category A) or in commercial property (Category B), can I rent them out?
A9: If you purchased two residential units (Category A) → You may rent one of them. If you invested in commercial property (Category B) → You can rent it out without restrictions.
Q10: Do I need to have a stable income?
A10: Yes, you must show a secure annual income of at least €50,000, plus: • €15,000 for your spouse. • €10,000 for each dependent child. In case of investing in buying a new house or apartment this income should derive from abroad and may include salaries or wages, pensions, dividends from shares, bank deposits interest, rents, etc.. In cases where the applicant chooses to invest buing commercial property or invest in Cyprus company or invest in Cyprus investment fund, his total income or part of it may also come from sources coming from activities within the Republic. In all cases calculating the total amount of income, the spouse’s income may also be taken into account.
Q11: Does the secure annual income refer to gross or net income?
A11: It refers to gross income (before tax deductions).
Q12: What documents must I provide to confirm my income?
A12: Your annual income can be proven through: • A tax return declaration from the country where you are a tax resident, or • Official certificates from an independent Certified Accountant (this accountant must be retutable accountant in your courtly of residence, the migration department does not accept letters from internal accountants).
Q13: What personal documents do I need?
A13: A clean criminal record certificate (from your country of origin & residence). A health insurance policy for medical care. A signed declaration stating you will not work in Cyprus, except as a Director in your investment company.
Q14: I own a development company in Cyprus. Can I buy property from my own company and still apply under Category A?
A14: Yes, as long as all other criteria are met.
Q15: Can I be a shareholder in a Cyprus company?
A15: Yes, and also hold the position of unpaid Director.
Q16: Do I need a place to live in Cyprus if I do not invest in new house or appartment?
A16: If you invest in commercial property, a company, or investment funds, you must provide proof of accommodation (e.g., property title or rental agreement). If you invest in a house/apartment, your home must have enough space for your family. If not, you must provide proof of another property.
Q17: Who can I include in my application?
A17: Your spouse. Your children under 18 (as dependents).
Q18: Can my adult children (18-25) get a permit?
A18: Yes, if they are unmarried students abroad and financially dependent on you.
Q19: What if I have adult children over 25?
A19: They can apply if you increase your investment: • 1 adult child → €600,000. • 2 adult children → €900,000. And so on… Each adult child must also show an annual income of €50,000.
Q20: How do I apply?
A20: We submit your application to the Civil Registry and Migration Department (CRMD).
Q21: Can someone apply on my behalf?
A21: Yes, through an authorized representative.
Q22: What is the application fee?
A22: €500 per application. €70 per person for the Alien Registration Certificate.
Q23: How long does it take to process?
A23: About 10 months, if all criteria are met.
Q24: Is travel to or residence in Cyprus required as part of the Cyprus permanent residency application process?
A24: Is not required for the applicant to be at the Republic of Cyprus on the submission of the application. Nevertheless, the residency holders, must travel to Cyprus at least once withing one year from the approval for biometric data collection and visit every 2 years to maintain their residency permit.
Q24: Upon approval of my permanent residence permit, can I apply for the General Health System in Cyprus?
A24: Non-EU nationals holding Immigration Permits under Regulation 6(2) are eligible to apply for GESY registration after completing 12 months of residence in Cyprus.
Q25: I am a holder of a permanent residency under 6(2). When can I apply for citizenship/passport?
A25: After 8 years of lawful stay in the Republic of Cyprus.
Q26: How long is the permit valid?
A26: The permit is for life, but the residence card must be renewed every 10 years.
Q27: Do I need to stay in Cyprus permanently?
A27: No, but you must visit at least once a year.
Q28: Can I travel to the European Union visa-free if I am a permanent resident of Cyprus?
A28: No, Cyprus permanent residency does not grant visa-free travel to the EU. Once Cyprus enters the Schengen Zone, this will change accordingly.
Q29: Can I lose my permit?
A29: Yes, if: You sell your investment and don’t replace it. You move abroad permanently or stay outside Cyprus for 2+ years. You fail to submit required documents (e.g., proof of investment, clean criminal record).
Q30: Can I obtain a loan from a Cypriot bank to fund the investment?
The Immigration Permit under Regulation 6(2) is granted based on an investment, which in its entirety must not originate from domestic borrowing. In other words, the investment amount must be fully covered by the applicant’s own funds from abroad and must not be financed through a loan from a Cypriot credit institution.
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