Cypriot Citizenship & Permanent Residence Permit
Cyprus offers a sought-after way of life both to its residents and tourists: all-year-round sunny weather, award-winning beaches, exceptional nightlife suitable for all ages and a wide variety of activities.
Starting from March 2014, according to the Cyprus law, the non-Europeans investing in the economy of Cyprus have the opportunity to obtain Cyprus (European) Citizenship.
PHS offers a service package to facilitate the submission of individual or collective investment citizenship applications as well as to make sure all of your family members receive Cyprus passports in a timely manner.
Major Benefits of the Cyprus Citizenship Programme
The citizenship is granted to the whole family: husband, wife and all financially dependent children under 28 years old. Next generations can also retain the EU citizenship.
With the passport issued within 3 months from the date of the application being submitted, it is the fastest procedure in Europe.
Dual-citizenship is permitted and the acquisition of citizenship in Cyprus is not reported to other countries.
There is no requirement to reside in Cyprus either before, during or after the approval of the citizenship application.
The investor is entitled to sell its investments after 3 years, however he must hold possession of at least 500,000 Euro worth of residential property (+ VAT if applicable).
Investors can move capital within the European Union.
No requirement of history or language proficiency tests.
Opens the opportunity of numerous education options in the European universities which feature lower tuition fees.
VISA-free travel to 157 countries worldwide, including all the European Union countries, Canada and Australia amongst others.
Once having the Cypriot Citizenship, it is easy to obtain a visa to travel to non-EU countries as well.
The Cypriot driving license can be used in other EU member states.
You can benefit of free healthcare in the public hospitals within Cyprus.
All the rights of an EU citizen are protected by EU legislation and regulations include the following: freedom to reside, work, do business, study and travel anywhere in the EU, Switzerland, Liechtenstein, Norway and Iceland.
Permanent Residence Permit (PRP)
On September 13 2016, the Council of Ministers in Cyprus approved the amendments to the Scheme for Naturalization of Investors in Cyprus by Exception. The amendments to the law were made by the Cyprus Government to encourage further Foreign Direct Investment in the island by high-net-worth individuals.
- Category F 6(2) Immigration Permit gives you as a Non-EU national, the right to permanently reside in Cyprus
- Exemption from immigration entry procedures - i.e. no need to obtain a Visitor’s Visa
- The applicant’s family (married spouse, children under the age of 18 and any financially dependent children under the age of 25) can also benefit from obtaining the PRP
- As of February 2016, the applicant’s parents and parent’s in-law can also obtain the PRP as dependents
With a great selection of luxurious and pioneering properties designed by leading architects and interior designers, buyers from across the world certainly find their dream asset, whether it is for an investment or for use a holiday home, so they can acquire the Citizenship or Permanent Residence Permit.
By obtaining a Permanent Resident Permit and/or Cyprus Citizenship by Exception does not alone affect the tax status of an individual. An individual is taxed according to residency and domicile status. A Cyprus tax resident can benefit from a number of tax incentives.
Our goal is to make certain that this process will be smooth and effective and our experienced team can provide you with the exceptional service necessary to ensure that you benefit of the most suitable migration solution, tailored to your specific business and personal needs.
In partnering with PHS you gain the utmost benefit for the following reasons:
- We possess in-depth knowledge of the related legislation and procedures
- We offer independent advice in regards to different investment options
- We are prompt in handling the associated documentation and procedures
- We act as your professional liaison with the local authorities
- Hard negotiating with seller for achieving the best possible result
- Confidentiality, Integrity and Honesty
In regards to the real estate element of the Cypriot Citizenship or Permanent Residence Permit application, our real estate services team can provide you with the following services:
- Discuss your requirements with you
- Conduct a market search on desired-estate availability
- Present you various estate properties
- Negotiate the price with the seller on your behalf
- Do a search in the land registry to find out if there are any mortgages/securities on the property-to-buy
- Prepare the sales/purchase agreement
- Submit all applicable documents to Tax authorities
- Arrange payment at the land registry and apply for the issuance of new title deed
- Handle the transaction procedures for the application of Citizenship or Permanent Residence Permit
- Client Representation at all stages
Here you may find as well, the answers to some of the most common questions we received in time. Read our FAQs