Residence Permit by Real Estate Investment

“Acquiring a residence permit through real estate investment in Cyprus offers several benefits. One advantage is the country’s low corporate tax rate of only 12.5%, the lowest in the EU. Additionally, Cyprus does not impose inheritance tax, and it has agreements with 57 countries to prevent double taxation.

The process of obtaining a residence permit is relatively straightforward and typically takes around 2 months from document submission. However, due to a high number of applicants, processing times may be longer. Our qualified specialists can guide you through the necessary requirements and documents for fast-tracked residency acquisition through real estate investment. We’ll assist you with paperwork and address any queries you may have.

Any property buyer in Cyprus can apply for a residence permit through the accelerated procedure, provided they meet certain criteria.”

the requirements for obtaining a residence permit through property investment in Cyprus:

•⁠ ⁠*Property Investment:* A minimum payment of EUR 300,000 plus VAT is required for the property purchase.

•⁠ ⁠*Property Type:* The property must be new and purchased directly from a developer. Buyers can purchase up to two housing units, not necessarily from the same developer.

•⁠ ⁠*Documentation:* Applicants must provide a Certificate of Ownership or Real Estate Sale and Purchase Agreement.

•⁠ ⁠*Income Requirement:* The buyer must demonstrate an annual income of at least €50,000, with an additional €15,000 for a spouse and €10,000 for minor children. Various income sources are accepted, such as salaries, pensions, dividends, rental income, etc. The income must be confirmed through tax returns or an official certificate from a certified public accountant. Spouse’s income can also contribute to the total income.

•⁠ ⁠*Source of Funds:* Funds used for property purchase must originate from outside Cyprus.

•⁠ ⁠*Criminal Record Check:* Applicants must provide a certificate of no criminal record from both their country of origin and residence, if different.

•⁠ ⁠*Intention to Work:* The applicant and spouse must declare that they do not intend to work in Cyprus but may hold shares or director positions in Cyprus-registered companies without receiving a salary.

•⁠ ⁠*Bank Confirmation:* A certificate from a Cypriot bank confirming the availability of €50,000 is required.

•⁠ ⁠*Declaration:* Buyers and their family members must declare that they do not plan to work in Cyprus.

•⁠ ⁠*Additional Requirements for Adult Children:* To obtain a residence permit for children over 25 and their families, the property value must exceed €600,000 plus VAT. Adult children under 25 who are students also qualify for a residence permit.

Investors receive a residence permit automatically, and Crona Group’s qualified specialists can assist with fulfilling all necessary conditions and documentation.