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.
Mezzo Apartment
Mezzo Apartment is located in the core area of the old town of Limassol, Agios Ioannis, only 2 kilometers away from the well - known old port of Limassol. The surrounding area is crowded with commercial facilities, shopping centers and schools, making life convenient.
Mezzo Apartment meets the standards of an existing property. Once you buy the house, you can get the keys immediately. It is a rare existing property project in the city center. The apartment has a total of 5 floors. The ground floor is for parking spaces and storage rooms. Floors 2 - 5 are residential areas with a total of 11 housing units, including 1 - 3 bedroom units. It was sold out in a rush as soon as it opened. Currently, only one two - bedroom unit is left and it will be sold out soon. A storage room and a parking space are given as gifts.
Key Selling Points:
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Existing property, about to be sold out, high occupancy rate
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Core location in the old town, 4 international schools within 5 minutes
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Low average price, large area in the same location, high cost - performance ratio
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.