Time to Citizenship
3 Months PR Card
Spouse, dependants up to age 28 & parents of main investor
Cyprus is an attractive investment destination for many reasons. Strategic location, great infrastructure, various fields in which someone can invest. The Cyprus government understands the importance of foreign investments, thus introduced two schemes for granting foreign investors Cypriot Citizenship and Immigration Permit.
Korantina Homes offers an expansive portfolio of property types and styles, primarily in the Paphos region. Our two luxurious flagship resorts, Coral Residences and Cap St Georges Beach Club Resort, our stunning villas and our deluxe apartments fit the requirements you need to obtain the Cypriot citizenship or a Permanent Residence Permit.
Furthermore, the company has some exciting plans for the future, as an impressive tower, one of the first in Paphos, is currently awaiting approval and more luxurious villas around the area of the Cap St Georges resort are expected to be delivered in the near future. Obviously, all of these properties are excellent investment options, guaranteed to help you with your application for citizenship of Permanent Residence Permit.
Dual citizenship means that you have citizenship of two countries, with all of the associated rights and obligations. Dual citizenship of a country with a good international reputation, like Cyprus, offers many benefits for high net worth individuals.
Dual citizenship has nothing to do with national loyalty. It is a simply a legal way to protect yourself, your family and your assets from unexpected events. A second citizenship and second passport are like insurance.
- Cypriot citizens, just like any European, have the freedom to work, live and travel in Europe.
- Dual citizenship offers perks such as financial privacy.
- European passports allow travel without visa to more than 173 countries.
- European passport holders can obtain visas for other countries cost-effectively and quickly.
- European passport holders have access to the best healthcare institutes and education.
- European passport holders are safe-guarded politically throughout Europe.
Regulation 6(2) of the Aliens and Immigration Regulations has been simplified by the Ministry of Interior in order to issue Residence Permits to applicants from non-European countries, provided that the following requirements are met:
The main requirement is the purchase of new immovable property of a total market value of at least EUR 300,000 plus VAT. The applicant must submit the application form accompanied with a contract of sale and proof of payment of at least EUR 200,000 plus VAT. The contract of sale must have been submitted to the Cyprus Department of Land and Surveys. The property can also be bought by a company provided that the company is registered in the name of the applicant or the applicant and spouse, and they are sole shareholders;
The applicant must submit a confirmation letter from a Cyprus bank that they have deposited a minimum capital of EUR 30,000 from abroad into an account which will be locked for three years. After the expiration of this period, the money will be released without restrictions.
The applicant must provide supporting evidence of a secured annual income of at least EUR 30,000 deriving from abroad. This income must increase by EUR 5,000 for every additional child, and EUR 8,000 for each dependent parent. This income may include salaries from employment, rents, pensions, and dividends from shares, etc.
DOCUMENTS FOR CYPRUS RESIDENCY:
- Copy of valid passport of the applicant and his dependants;
- Curriculum Vitae;
- Original Letter from a financial institution in Cyprus (Bank, Coop) of a deposit of €30.000, pledged for three years;
- Declaration of a secured annual income from abroad of €30.000 at least, (original documents and affidavit or declaration);
- Title of ownership or contract of sale of a built property in Cyprus of a minimum market value of €300.000 (original or true copy). If the title of ownership has not been obtained yet, the applicant must submit the contract of sale duly stamped by the Stamps Commissioner and the Department of Lands & Surveys and proof of payment for at least €200.000;
- The amounts paid for the property must be proven to have been transferred to Cyprus from abroad;
- Official Statements by the applicant and his/her spouse that they do not intent to undertake any sort of employment in Cyprus;
- Health Insurance Policy for the applicant and his/her dependants;
- Original Criminal Record Certificate duly certified for the applicant and his/her spouse (if the applicant resides abroad, the certificate must be issued from his/her country of residence, and submitted with an official and certified translation);
- Marriage Certificate duly certified (official and certified translation);
- Children’s Birth Certificates dully certified (official and certified translation);
- Other documents which are submitted with the application.