Cyprus has long established itself as a reputable international business centre, owing to its attractive, stable and favourable tax regime. Cyprus, an EU member country, benefits from an extensive and favourable network of double tax treaties.
Non-EU citizens who purchase property in Cyprus can benefit from a new and accelerated procedure for obtaining a permanent residence permit. This less costly alternative may appeal to retirees. It may also appeal to those who wish to use Cyprus as a base for their professional or business activities.
The parents of permanent residency permit holders or future applicants may also apply for a permit.
There are a number of criteria the applicant must meet for this programme and the minimum investment is €300,000.
The Cyprus Permanent Residency Programme is cost-effective, permits may be obtained within a short period of time and the requirements regarding residency periods are not onerous.
Our team would be happy to guide you through the process and provided all the criteria are met, the permit is usually granted, after being examined by the Minister of Interior, within one to two months.
Passport and Investment Programme
One of the principal objectives of the economic policy of the Republic of Cyprus is to encourage foreign direct investment and to attract high net worth individuals to conduct business in Cyprus. Key factors that make Cyprus an attractive place for investment include the country’s well educated workforce, a well developed legislative and regulatory framework, a stable and favourable tax system, and the safety and stability of the country.
There are a variety of options within this programme, depending upon the nature of the investment, which we would be happy to discuss with you. The minimum investment amount is €2.0 million.
Earl Cyprus has considerable experience in incorporating, managing and administering companies. Such companies often have foreign shareholders and/or form part of a wider international group, and hold properties, investment portfolios or subsidiaries worldwide. The team at Earl Cyprus are experienced in dealing with a range of other jurisdictions and benefit from a broad network of trusted advisors internationally.
Cyprus’ well-developed body of trust law make it an attractive jurisdiction from which to assist our clients with succession planning. Cypriot trusts also benefit from a favourable local tax regime.