ANNOUNCEMENT! When buying property in Cyprus cost from € 300,000 the buyer and his family members have the opportunity to immediately get a permanent life-long residence in the Republic of Cyprus. The legislation of the Republic of Cyprus provides for the possibility of obtaining citizenship of Cyprus to investors from third countries. Contact us for more information.
European Citizenship programme through Cyprus
While you are waiting for your European passport you can enjoy the Cyprus hospitality, the Cyprus weather, and relax in the safe environment of your Cyprus home as your investment continues to make you money.
There are many advantages of a Cyprus Permanent residency permit including that a holder will have all rights that European Union citizens have in Cyprus and that Cyprus resident’s application for visa to other European countries and non European countries will be favourably treated. Also the Cyprus permanent residency permit does not expire provided that you and your family visit Cyprus once a year. Between the end of this year and the beginning of 2012 Cyprus will be part of the Schengen state. Permanent residents of Schengen states can move freely into another Schengen country.
Not only do Cyprus citizens have the right of free movement in the EU but they are well respected all over the world for being politically neutral.
This European citizenship programme has many advantages including the fact that while you are waiting for your Cyprus Permanent residency permit to be processed your Cyprus property is continually is increasing in value. Cyprus property also has good rental potential as Cyprus is a very popular tourist destination for many nationalities across Europe and the Middle East. Cyprus unlike most other European countries does not expect you to physically be present in Cyprus although should you decide to take your holidays in Cyprus in your Cyprus home you are only a short haul flight to Cyprus.
Further to meetings held in 2009 the Minister of the Interior adopted favourable treatment of the immigration permit applications to Non European Citizens who acquire a private Cyprus home for their own residence in Cyprus. This measure is part of the effort which the Government is applying for the confrontation of the international economic crisis and especially for the strengthening of the purchase of immovable property in Cyprus, by means of the increase of incentives for the purchase of a Cyprus home by citizens of Non EU Countries.
The Minister of the Interior specifically decided on the favorable treatment of immigration permit applications, category F (6), as defined in the Alien Immigration Regulations of 1972 until 2004, for the citizens of Non EU countries who have acquired by means of purchase a Cyprus private home for their own use in Cyprus, value not lower than €300.000=. It is mentioned that a Cyprus immigration permit is equivalent to a Cyprus permanent residence permit in Cyprus and the holders are exempt from the time consuming immigration procedures which exist for the other categories of Non EU country citizens who enter Cyprus (e.g. consular visa, renewals of residence permit, re-entry permits, etc.).
Category F (6), according to Regulation 5 (F) of the Aliens and Immigration Regulation of 1972 until 2004, refers to persons who are citizens of a Non EU country and who rightfully hold and have at their disposal a guaranteed annual income of an appropriate sum, which is not derived from employment or self-employment in Cyprus but comes from overseas. By the incentive of favorable treatment of the application for immigration permit Category F (6), it is expected that there will be an increase in demand for the purchase of a private Cyprus home from Non EU world country citizens, which will have a positive repercussion on the Cyprus economy.
We at My Property Cyprus, due to the vast relations we have at both Senior Government levels and Private Sector (including a network of professionals we represent in Cyprus), can assist clients in a hassle free procedure to obtain a Cyprus permanent permit for the immediate family (husband, wife, children under 18) and businesses and professionals to open their companies in Cyprus thus making it easier to provide a gateway into the European union market. A couple of key areas which we believe would be of interest to you is the Cyprus Permanent Permits for anybody wanting to use Cyprus as a base for his family due to the security it can provide but also the high level of education can achieve this by buying at least a 300,000 euro worth of property. Not all applicants would be approved; the ones that would most probably be approved are those that have sufficient funds to live in the republic of Cyprus with funds coming from another country and businesses that are not operating in Cyprus. It is essential to know that Cyprus is nearly completing the final discussions with the other EEU countries to enter in to the Schengen Zone.
Active Schengen Visa members
Austria Germany Belgium
Denmark Finland France
Greece Iceland Italy
Luxemburg Norway Portugal
Spain Sweden The Netherlands
The Schengen Visa Agreement allows countries to remove their internal borders and allow people to travel without checks from country to country.
The establishment of Companies in Cyprus is something that a lot of professionals and companies based inside or outside European Union are doing for two reasons, number one is to establish an EEU identity for their companies and therefore to operate as a European company accessing 450 million clients in Europe and second is to enjoy the low tax regime we have in Cyprus benefiting this way of higher profits for their companies. The benefit for your company would be the fees on the set up of Cyprus companies but also of other fees from possible company structures.