Immigration and Migration
Located in the heart of the Mediterranean, Cyprus offers an unparalleled combination of stunning natural beauty, year-round sunshine, and a safe, stable environment that makes it an ideal destination for both residential and business development. With its sandy beaches, crystal-clear waters, and idyllic climate, Cyprus has long been recognized as one of the most sought-after locations in the region, attracting visitors and investors from all over the world.
At our firm, we understand the unique appeal of Cyprus and the many advantages it offers for individuals and businesses seeking to establish a presence in the region. With years of experience in the field, our team of legal experts is well-equipped to advise clients on the necessary steps and actions required to achieve their objectives and meet their needs, from investment and business planning to relocation and residency.
Whether you are a non-European national seeking to establish residency in Cyprus or an investor looking to take advantage of the many opportunities available in the country, our firm can provide you with the guidance and support you need to navigate the process with confidence and ease. We work closely with our clients to understand their specific goals and objectives, tailoring our services to meet their unique needs and requirements.
From assisting with the legal aspects of property acquisition and business formation to advising on tax and immigration matters, our team of experts is committed to providing clients with comprehensive, personalized solutions that deliver results. We understand the complexities of the legal landscape in Cyprus and have a deep understanding of the local regulations and requirements, enabling us to provide clients with a competitive edge in the marketplace.
At our firm, we are dedicated to delivering exceptional service and value to our clients, building lasting relationships based on trust, integrity, and a commitment to excellence. We pride ourselves on providing cost-effective solutions that are tailored to the specific needs of each client, enabling them to achieve their goals and succeed in their business endeavors.
If you are considering investing in Cyprus or seeking to establish residency in the country, we invite you to contact us to learn more about our services and how we can help you achieve your objectives. Our team of legal experts is standing by to provide you with the guidance and support you need to make informed decisions and succeed in your aims.
On the 2nd of May 2023, the Ministry of Interior of Cyprus has released updated eligibility requirements for non-European Union nationals seeking to acquire a residency permit via the expedited procedure.
The applicant should make an investment of at least €300,000 in one of the following investment categories:
Investment in a house/apartment: Purchase of a house or apartment from a land development company, which should be considered a first sale of at least €300,000 (plus VAT)
Investment in real estate (excluding houses/apartments): Purchase of another form of real estate such as offices, shops, hotels or similar developments or a combination of these with a total value of €300,000. These properties in question can also be resales properties.
Investment in share capital of a Cypriot Company with activities and personnel in Cyprus:
Initial investment in share capital of a new company worth €300,000 or increase of share capital worth €300,000 in an existing company registered in the Republic of Cyprus, which is based and operates in the Republic of Cyprus and has a proven physical presence in Cyprus and employs at least five (5) people.
Investment in shares of a Cyprus Investment Organization for Collective Investments (type AIF, AIFLNP, RAIF):
Investment worth €300,000 in shares of a Cyprus Investment Organization for Collective Investments whose investments should be carried out in the Republic of Cyprus.Provided that, any alienation of the holder of the Immigration Permit from the investment he has made without immediately replacing it with another of the same or greater value, which should meet the conditions set in this procedure, will entail activation of the procedure cancellation of the License based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.
In addition to the investment above the applicant must be able to prove that:
- Has at his disposal a personal insured annual income of at least €50,000.
- The annual income is increased by €15,000 for the spouse.
- For each minor the annual income is increased by €10,000.
- The applicant’s income sources may include wages earned from employment, pension payments, stock dividends, interest earned from deposits, rental income, and income from foreign sources.
Furthermore, the income of the applicant’s wife may also be considered in some of the investment criteria. However, it is important to note that the individual must provide evidence of these income sources through their tax returns from the country in which they declare their tax residency.
Companies with foreign interest may apply to obtain temporary residence and employment permits for third-country nationals by investing a minimum amount of €171.000 and operating through suitably owned offices.
Such companies may employ up to 5 (five) directors with a minimum gross monthly wage of €3.872 and up to 10 (ten) middle management staff with minimum gross monthly wages between €1.936-€3.871.
Temporary residence and work permits are valid for up to 2 years and are renewable, while families of employees holding such permits may apply and receive temporary residence permits under the family reunification procedure.
