Our Experienced Team of Lawyers are in a position to assist clients fulfil all the necessary requirements in order to achieve their permanent relocation in Cyprus along with their family members. There are two different options to consider namely, Regulation 6.2 (Fasst Track) which was reformed in March 2021, and Category F which is the Normal Option.
Our wide range of services can assist clients in both Temporary or Permanent Residency including:
- Visitors Permits
- Registration certificates for EU citizens (Yellow Slips)
- Work Permits (Employees in Companies of Foreign Interest)
- Family Reunification
- Permanent Residency Permits/Regulation 6(2)
- Financial Criteria: The purchase of the property must be worth at least 300,000 Euro + vat. The client should invest at least 200,000 Euro + vat prior to submitting the application. The property should be sold for the first time and the Contract of Sale should be submitted to the Land Registry. Moreover, the client must prove that the funds are transferred from outside of the Republic of Cyprus.
- Bank Deposit: A bank deposit of 30,000 Euro should be transferred from abroad to the client’s personal bank account. These funds are blocked for at least 3 years.
- Annual Income: The client must prove that he/she has a secured annual income of at least 30,000 Euro. For each dependent (child), the fee increases by 5,000 Euro.
- Additional Requirements: The client and his/her spouse must provide a Clean Criminal Record from the country they currently reside. Moreover, they must confirm that they will not be employed in the Republic. Lastly, they should visit the island at least once within 1 year of the approval and once every 2 years afterwards.
- Tax Benefits: After successfully obtaining Permanent Residency the client may decide to become a Cyprus Tax Resident either by staying in Cyprus for at least 183 days per year OR through the “60 day rule” scheme for Non-Domicile Status. In this case, the client is in a position to enjoy his worldwide dividends tax free for 17 years, although he/she will not be in a position to stay in a particular country for more than 183 days (except Cyprus).