The Cyprus Government, in its continuous effort to attract foreign investments, has adopted a range of policies that allow third country individuals (non-EU citizens) to obtain Permanent Residence Permit in Cyprus (PRP).
Permanent Residence Permit (PRP) is easily obtained for people who purchase property. The advantage is that, unlike temporary permits for third country nationals, PRPs are permanent and they do not have to be renewed. Hence, the obtaining of a PRP by a third country national could be very useful for various reasons.
- Non-European citizens
- Property of value of €300,000 + VAT or more
- The obtained PRP applies to spouse and financially dependent children under the age of 18.
- Unmarried children between the age of 18 and 25, who prove that they are students and financially dependent on the applicant, they can submit a separate application to obtain an Immigration Permit which they will keep for a lifetime.
- The Permanent Residence Permit (PR) may also be granted to the parents and parents-in-law of the applicant/holder with the submission of an application.
ADVANTAGES OF A CYPRUS PRP HOLDER
- Fast access to Europe
- 2 months procedure
- 1-year Schengen visa in any European Embassy in Nicosia
- Permanent Residence Permit is not renewable, it is permanent. It is for life.
- Possibility to enjoy education of British Universities based in Cyprus
- The best medical facilities and high quality healthcare
- No inheritance tax
- Rental income
- Passport opportunity
- High quality of life
GENERAL BENEFITS OF CYPRUS
- Geographical location (at the crossroads of three continents-Europe, Asia and Africa)
- A stable economy in a western-type democracy
- Legal system based on English Law
- Excellent telecommunications and air connections
- Excellent banking facilities with worldwide networks
- High level of professional services
- Readily available and highly trained local staff
- Relatively low cost of living
- Low crime level
- Excellent education system up to university level
- Excellent climate
- Stunning coastlines and water sport facilities
- Reputable lifestyle
- Fascinating history
- Food variety
- With its strategic location, great accessibility, excellent infrastructure combined with the numerous Government incentives, Cyprus is an ideal financial and business hub
- Besides the low corporate tax rates, the numerous double tax treaties that Cyprus has concluded with other countries, offer tremendous possibilities for international tax planning through Cyprus in view of the fact that any tax paid in a country with which Cyprus has a treaty is deducted from the Cyprus tax payable on the same in-come and Cyprus does not impose any withholding tax and dividends, interest and royalties paid by business companies
- A person who has Permanent Residence Permit can travel to Cyprus without visa
- The visa to the Schengen zone’s countries can be easily obtained by Cyprus
- 1-year Schengen visa in the any EU Embassy in Nicosia
Discover the benefits of investing in a second home and acquiring a Permanent Resident Permit (PR). Contact our well-trained Customer Service team for more information on the immigration programmes of Cyprus and our properties at +357 25581005.