Non Cypriots can apply for the Cyprus Rersicency Program by investing at least €300,000 in real estate. In addition, applicants must also submit a confirmation letter from a Cyprus bank that they have deposited a minimum of €30,000 from abroad into an account that will be locked for three years. After the expiration of the three years, the money will be released without restrictions. Finally, evidence of a secured annual income of at least €30,000 deriving from abroad needs to be submitted. This annual income must increase by EUR 5,000 for the spouse and every additional child and EUR 8,000 for each dependent parent of the applicant.
Demev Group works closely with the most exp experienced Law companies, Financial advisers and Embassies. We can manage all details, documents and submission of applications. We can also assist you in identifying the most profitable property investment opportunities in Cyprus.
The application is examined by the Civil Registry and Migration Department and approval will be provided by the Ministry of Interior within two months. Once approval has been granted, the applicant and all the members of the family must visit Cyprus within one year to obtain the actual permit.