Guide on Cyprus Golden Visa and Residency Investment Program

The Cyprus Golden Visa offers non-EU, non-EEA, and non-Swiss nationals a streamlined route to permanent residency through targeted investments, such as acquiring real estate or establishing a business within the country. This prestigious residency option provides holders with extensive rights to reside, to establish a company, and pursue education in Cyprus, eventually paving the way to EU citizenship through naturalisation.

Additionally, Cyprus stands out with its attractive tax environment, offering substantial benefits like exemptions on worldwide income from dividends, interest, and rental income, a competitive corporate tax rate of 12.5%, and comprehensive double taxation treaties with over 60 countries. As highlighted in this Cyprus permanent residency guide, upon successful approval with Astons’ assistance, beneficiaries gain access to a host of residency privileges, as well as a potential future pathway toward citizenship.

Investing in Cyprus for residency has numerous advantages, making it one of Europe’s most attractive residency-by-investment programmes.

• Fast Processing: the review of a Golden Visa application usually takes 6 months
• No Permanent Residency Requirement: Investors only need to visit Cyprus once every 2 years to maintain their status.
• Family Inclusion: Spouses and dependent children under 25 are eligible.
  EU Market Access: Cyprus residency provides the opportunity to live and study within the European Union
• Path to EU citizenship in 8 years
• Low Investment Threshold: Cyprus requires one of the lowest real estate investment levels in Europe (from €300,000), providing attractive potential for a solid return on investment (ROI).

Tax Benefits

Cyprus permanent residency benefits include significant tax advantages, particularly for non-domiciled residents, such as:

• Non-Domicile Tax Status: exemption from taxes on global income such as dividends, interest, and rental income.
• Capital Gains Tax Exemption: no tax on profits from selling securities.
• Favorable corporate tax rates at 12.5%, among the lowest in the EU.
• Double taxation treaties with more than 60 countries.

Cyprus offers generous personal income tax exemptions, including zero tax on the first €19,500 of annual income, just 5% on foreign pensions exceeding €3,420, a 50% exemption on income over €100,000 for the first 17 years, and an additional 20% exemption (up to €8,550) for the first seven years.

To obtain permanent residency, investors must choose one of the following qualifying investments:

1. Real Estate: Minimum investment of €300,000 (plus VAT) in either new residential properties (up to two units) or commercial real estate.
2. Company Shares: Investment of €300,000 in the share capital of a Cyprus-based company employing at least five Cypriot residents.
3. Investment Funds: Investment of €300,000 in units of Cyprus Investment Funds (AIF, AIFLNP, or RAIF).

Securing Cyprus residency through investment involves clear steps, beginning with selecting the right investment, preparing essential documentation, and submitting an application to the Civil Registry and Migration Department of Cyprus. Astons ensures that each step is efficiently managed to maximize approval chances.

To successfully apply for the Cyprus Golden Visa, applicants typically need to provide the following documents:

• Completed Application Form: Fully filled and signed visa application.
• Passport Copies: Valid passports for the applicant and any dependents.
• Detailed CV: An up-to-date curriculum vitae outlining educational and professional history.
• Investment Documentation: Proof of property purchase (sale agreement or title deed) or bank statements demonstrating a minimum investment of €300,000.
• Source of Funds Evidence: Bank documents verifying the origin of investment funds, including employment agreements if applicable.
• Income Verification: Documents confirming a stable annual income of at least €50,000, with additional increments of €15,000 for a spouse and €10,000 per child, typically via tax returns or bank statements.
• Criminal Record Certificate: Original certificate from the country of residence for each applicant aged 16 or older, officially translated into English.
• Marriage Certificate (if applicable): Officially certified and translated.
• Birth Certificates for Children (if applicable): Certified copies with proof of dependency, such as enrollment certificates from schools.
• Health Insurance Coverage: Valid proof of health insurance covering the entire family.
• Recent Passport Photos: Standard-sized photographs for each applicant.
• Statement of Intent: A signed declaration indicating no intent to seek employment in Cyprus beyond serving as a company director.

Astons’ mission is to provide an efficient, smooth experience by guiding you comprehensively through your property acquisition and residency application.

Here’s a clear, step-by-step breakdown of the process:

1. Initial Consultation: Astons’ immigration experts assess your circumstances, explain the program details, and assist you in assembling initial documentation.
2. Property Selection and Purchase: Astons curates a personalized shortlist of properties matching your investment criteria. Clients typically visit Cyprus to personally view and select properties. Astons then manages the secure and streamlined purchasing process and assists with local bank account setup for investment purposes.
3. Documentation Preparation: Astons provides a detailed checklist and assists you thoroughly in compiling the required documents. Expert immigration advisers rigorously review all paperwork to ensure compliance with regulations.
4. Application Submission: Astons submits your completed residency application and supporting documentation to Cyprus’s Civil Registry and Migration Department.
5. Processing and Approval: Authorities review the application, typically issuing a decision within 6 months. Upon approval, an immigration certificate is granted.
6. Residency Card Issuance: Within one year following approval, you and your included family members must visit Cyprus to submit biometric data for your residency cards. After holding permanent residency for eight years, with the last year spent continuously residing in Cyprus, you become eligible to apply for Cypriot citizenship.

Fees for translation and notarisation vary depending on the specific requirements of the applicant’s country. Astons’ professional service fees are calculated individually.

Cyprus, already a member of the European Union, aims to join the Schengen Area in 2026, according to a recent announcement by the country’s president, Nikos Christodoulides. Upon joining, Cyprus residence permit holders will be able to travel freely within the Schengen Area. Currently, Cyprus residents enjoy simplified procedures when applying for Schengen visas.

Currently, Cyprus passport holders have visa-free access to over 170 countries, including the EU and the UK.

Yes, permanent residents may apply for Cypriot citizenship after 8 consecutive years of residence, granting further freedom to live, work, and travel throughout the EU.

• Carefully select investment options to align with long-term financial and lifestyle goals.
• Ensure meticulous preparation of financial documentation and legal paperwork.
• Work closely with experienced immigration advisors to streamline the application process.

Astons helps obtain permanent residency and purchase property in Europe as seamlessly and efficiently as possible.