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July 26, 2021

Cyprus Property Market Continues to Grow 

Over the past year, the Cyprus property market struggled as thousands of international investors were putting their purchases on hold due to the global pandemic and travel restrictions. Now, when the lockdown restrictions around the world are gradually lifted, the property market in Cyprus has begun to recover and grow again.

Being one of the most popular property investment destinations, Cyprus offers more than 320 days a year of sunshine, beautiful scenery, beaches, and a mild climate. At the moment, the property market has already reached 2018 levels and continues to grow, despite the fact that travel restrictions are still in place. The most international property purchases coming from EU countries, non-EU investors have not yet returned in significant numbers.

Cyprus Residency Program Overview

Cyprus residency program is an ideal route for obtaining a PRP (Cypriot Permanent Residence Permit) in just 2 months. The investment is safe and profitable, the property can be rented and an investor can gain regular rental income. The Residency program does not require physical presence and lets the whole family apply for Cyprus Citizenship in 5 years. Cyprus offers more than 320 days a year of sunshine, beautiful scenery and beaches, and mild climate.

Entrepreneurship also thrives in the country as government officials are working tirelessly to curtail government bureaucracy. Procedures for business owners have been streamlined and made easy to remove delays and excess costs. Besides, Cyprus offers favourable tax regime, as there are no tax on worldwide dividends, interest, inheritance or income tax.

Program Benefits

Cyprus Residency by Investment Program grants the applicant a 5-year residency permit and let’s apply for permanent residence and citizenship after this period. The Program does not require to reside in Cyprus, however the permit holders must visit the island at least once in 2 years to keep the permit. In addition, Cyprus Residency Program lets investor obtain regular rental income from letting the property.

Investment Options

Property investment from €300,000

  • Brand new residential property purchase from property development company (property can be rented)
  • It is also possible to invest in commercial properties, including offices, shops, and hotels (which can be new or resale).

Invest in the share capital of a Cyprus company

  • This will require having a physical presence and activities in Cyprus
  • At least 5 people should be employed

Investment in compartments of Cypriots UCITS

  • UCITS is a mutual fund based in the European Union
  • The investment can be made in AIF, AIFLNP, RAIF.

More requirements:

  • Clean criminal record
  • Secure annual income evidence
  • (including salaries from employment, pensions, dividends, fixed deposits, rentals) of at least EUR 30,000, increased by EUR 5,000 for every dependent person (spouse and children) and by EUR 8.000 for every dependent parent or parent-in-law.

LONDON BASED SOLUTIONS ADVISERS – Cyprus Residency by Investment

Full Support with our Immigration Advisers & Property Consultants:

Property search based on your requirements (from residential properties to high-value luxury developments)

  • Property virtual tours, 3-D tours, and in-person tours are available.
  • Due diligence checks and additional property checks completed by our experts.
  • Residency &Citizenship document preparation and submission.
  • Full support until you receive your second passport & residency.

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration advisers are regulated by OISC and IMC (Investment Migration Council).

For further information or to discuss your circumstances in a private consultation with our immigration lawyers in London Office, please contact us at enquiries@manns-solutions.com or call +44 207 993 63 46.

Photo by Datingjungle on Unsplash