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Cyprus
Permanent Residence Program
Cyprus Permanent Residence Program
This program enables applicants to obtain Cyprus Permanent Residence directly through purchasing property in the local Cyprus market for at least EUR 300,000. Cyprus PR card is valid for 10 years, and there is no residence requirement for PR renewal. Card holders are only required to visit Cyprus once every 2 years. The program is popular due to its simple requirements and short processing time, which is about 6-8 months only.
Time to permit
6-8 months
Residency requirement
No residency requirement
Taxation
No Worldwide taxation
Established time
Program launched in 2010
Passport rank
14th in the world
Application requirements
To apply for Cyprus Permanent Residence, you need to satisfy following requirements:
1.Purchase property in Cyprus for at least EUR 300,000.
2. The main applicant should have an annual income of no less than EUR 50,000. Extra 15,000 euros is required for a spouse. Extra 10,000 euros is required for each additional child (i.e. EUR 65,000 for the main applicant and the spouse, EUR 75,000 for the couple and a child).
3. Accompanying children should be unmarried full-time students under the age of 25.
Zephyros Villas
The Zephyros Villas project is located in the Mandria area of Paphos. All daily life facilities such as restaurants, supermarkets, and banks can be reached within 5 minutes. The natural beach is 900 meters away on foot. Enjoy a 365-day vacation life with access to the private coastline of the Mediterranean Sea. It offers double surprises in terms of location and price. The Lumio British International School can be reached within a 10minutes drive. Zephyros Villas features a Mediterranean - style design, with two floors, a large front and back garden, and a garage. There are a total of 39 villa properties, including 20 semi - detached villas and 19 detached villas. The project is constructed in three phases. The first phase of 12 detached villas has been fully completed and put into use. The buyers include local, European, Russian, and Chinese families. Currently, the second phase with a total of 15 properties is on sale, including 10 semi - detached villas and 5 detached villas. Delivery will be made 18 months after signing the purchase contract and paying the down payment.
Key Selling Points:
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A rare low - priced and cost - effective seaside villa project in the local area.
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Extra - large indoor and courtyard areas.
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Reach the natural beach within 2 minutes and enjoy the private coastline.
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A 3 - 5 - minute living circle with all - inclusive living facilities, and reach the British international school within 10 minutes.
Program Benefits
1. The only country in Europe where 300,000 euros can buy a brand-new villa.
2.Both public and private medical care without the need for insurance.
3. The lowest cost of property maintenance. no property tax，no vacancy tax.
4. Low cost to enjoy British education system with excellent academics and high English proficiency.
5. National security ranked fifth in the world.
6. The lowest tax rate in Europe, zero inheritance tax, zero sales tax, zero dividend income tax, 12.5% corporate income tax.
7. Eligible for naturalization after 5 years without language test.