Legal Framework
- In pursuance of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of Interior, having notified the Council of Ministers, has decided to issue an Immigration Permit to third-country applicants for the cases of investments that meet the requirements of this policy.
- The applicant must meet one of the investment criteria as well as the quality criteria below. It is noted that the money that will be used for the investment must be proven to have been transferred to Cyprus from abroad.
Investment Criteria
2-1 The applicant must invest at least 300,000 euros in one of the following investment categories:
A) Investment in a house or apartment: Purchase of a house or apartment from a development company, which should concern a first sale of at least 300,000 euros (plus VAT).
B) Investment in real estate (excluding houses/apartments): Purchase of other types of real estate such as offices, shops, hotels, or related estate developments, or a combination of these, with a total value of 300,000 euros. The purchase of interest can be the result of a resale.
C) Investment in Cyprus Company’s share capital, with business activities and personnel in the Republic: Investment worth 300,000 euro in the share capital of a company registered in the Republic of Cyprus, based and operating in the Republic of Cyprus, and employing at least five(5) people.
D) Investment in units of Cyprus Investment Organization of Collective Investments(forms of AIF,AIFLNP, RAIF): Investment worth 300,000 euros in units of Cyprus Organization Collective Investments.
It is noted that any alienation of the holder of the immigration permit from the investment he has made without its immediate replacement with another of the same or greater value, which must meet the conditions set out in the present procedure, will result in the cancellation of the immigration permit based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.
2-2 The applicant should, in addition to the investment under Section 2.1 above, be able to prove that he has at his disposal a secure annual income of at least 30,000 euros. This annual income increases by 5,000 euro for each dependent family member and 8,000 euros for each dependent parent(of the applicant and/or his spouse). This income should derive from abroad and may include salaries or wages, pensions, dividends from shares, fixed deposits, rents, etc. in cases where the applicant chooses to invest as Section 2.1(A). In calculating the total amount of income, the spouse’s income may also be taken into account.
In cases where the applicant chooses to invest as Sections 2.1(B), 2.1(C) or 2.1(D) his total income or part of it may also come from sources derived from activities within the Republic.
Quality Criteria
3.1 The applicant and his spouse must submit a clean criminal record certificate from their country of residence or from the Republic of Cyprus in case they reside in Cyprus, and generally they should not be considered as a threat in any way to public order or public security in Cyprus.
3.2 The applicant and his spouse shall confirm that they do not intend to undertake any sort of employment in the Republic, with the exception of their employment as directors in a company in which they have chosen to invest under this policy.
3.3 In cases where the investment does not concern the company’s share capital, the applicant and/or his spouse are allowed to be shareholders in companies registered in Cyprus, and the income from the dividends derived from such companies may not be considered as an obstacle for the purposes of obtaining the Immigration Permit. In such companies, they may also hold the position of an unpaid director.
3.4 In cases where the applicant chooses to invest as in Sections 2.1(B), or 2.1(C) or 2.1(D), he should provide evidence regarding his accommodation in the Republic (e.g. title of ownership or contract of sale and proof of payment for the property or rental agreement).
