What is the minimum investment in Cyprus? (2024)

What is the minimum investment in Cyprus?

What Is The Cyprus Permanent Residency Program. The Cyprus Permanent Residence Program offers eligible individuals and their families the opportunity to reside indefinitely in Cyprus in exchange of an investment of at least EUR 300,000.

What is the minimum investment in Cyprus for citizenship?

Applicants may be able to obtain a Cypriot passport by investing at least €2,000,000 in alternative investment funds or financial asset of Cypriot companies/organisations. Financial assets include bonds, bills and securities issued by a company or organisation physically present and active in Cyprus.

How much money do you need to get residency in Cyprus?

It is also known as a Cyprus immigration permit or unlimited residency. In 2024, to obtain a Permanent Residency permit in Cyprus with the fast-track option, the applicant must invest at least €300,000 in real estate or other investment options. This residency can cover the whole family and does not expire.

How much does it cost to buy Cyprus citizenship by investment?

At least €2 million in financial assets of Cypriot business or investment bonds – not including the purchase of €500,000 personal residence. A combination of investments must come to the total of €2 million – not including the purchase of €500,000 personal residence.

Can you buy residency in Cyprus?

To obtain permanent residency by investment in Cyprus, you must invest at least EUR 300,000 in real estate or company shares, have an independent and secure annual income of over EUR 50,000, and provide a clean criminal record from your country of origin and country of residence.

Can you buy citizenship for a € 2 million investment in Cyprus?

An investment of at least €2 million in an applicable sector. The main applicant must be at least 18 years old. One visit is required to acquire biometrics and permanent residence permit. Ownership of a lifetime, private residence (house or apartment) in Cyprus with a purchase price of at least €500,000 (+VAT).

Can a US citizen retire in Cyprus?

Any retiree moving to Cyprus will have to demonstrate proof of an annual income no less than €9,560 – or what is equivalent to CY5,600 – in order for them to apply for the retirement visa and acquire a temporary residence permit.

How much money do you need in the bank to move to Cyprus?

You purchase a property in Cyprus valued at least €300,000.

You will deposit €30,000 in a Cypriot bank account, which will be frozen for three years. You will enter Cyprus at least every two years. If you have dependents, you must have an additional annual income of €5,000.

How much income do I need to retire to Cyprus?

The minimum is about EUR 10,000 annually, with an additional EUR 5,000 for each dependent family member. This type of residence permit does not give you the right to work. Permanent residency by investment is granted if you buy a property of at least EUR 300,000 and have a secured annual income of EUR 50,000 annually.

How hard is it to get citizenship in Cyprus?

In short, to become a Cyprus citizen, you must be married to a Cypriot citizen for at least 3 years, or have Cyprus roots, or live in Cyprus for 7 years (2555 days) with a temporary residence permit or 5 years (1825 days) as a permanent resident.

How do I buy property in Cyprus and get residency?

For a fast-track permanent residency in Cyprus, you must buy a house or apartment for at least EUR 300,000 plus VAT (19%). Sellers may require a deposit. There is no property tax in Cyprus, but municipality taxes apply (cost varies with area and type of property).

What is the golden visa for Cyprus?

The Cyprus Golden Visa program enables non-EU, non-EEA, and non-Swiss nationals who buy property or set up a business in the Republic to acquire legal permanent residency, and increases their eligibility for European citizenship and a Cyprus passport.

What is the Cyprus Investment Program?

The Cyprus Investment Program (CIP) (Greek: Κυπριακό Επενδυτικό Πρόγραμμα, ΚΕΠ) was an immigrant investor program conceived by the Government of Cyprus in order to attract foreign investors in exchange for Cyprus citizenship.

What are the pitfalls in buying property in Cyprus?

Pitfall 1 – Not appointing an independent property lawyer

Such contracts will likely not protect the buyer, and instead be heavily biased in favour of the developer. Also, beware of lawyers acting for vendors or builders, who are therefore not independent. This is the equivalent to not appointing a lawyer at all.

Are houses expensive in Cyprus?

The average cost of real estate in Cyprus is €1,678 per m². The most expensive villas and apartments are in Limassol, Nicosia, and Larnaca. Cyprus permanent residence can be obtained by foreigners who have bought apartments in new buildings or new houses at a price of €300,000.

Can a US citizen buy a house in Cyprus?

Permission to acquire immovable property in Cyprus

Cypriots and EU citizens are entitled to buy immovable property without any restrictions. Non-EU citizens can buy immovable property, however, permission from the Council of Ministers is required.

Does Cyprus allow dual citizenship with us?

Dual citizenship is recognized in Cyprus. You are not required to renounce your previous nationality to become a citizen of Cyprus.

Does Cyprus allow dual citizenship?

Dual citizenship/nationality is allowed both in Cyprus and in the UK. For more information click here. For general information and guidance so as to establish which application you need the criteria for, you may consult the website of the Civil Registry & Migration Department of the Ministry of Interior.

Which country is easiest to get citizenship by investment?

Antigua and Barbuda - Easiest Country to Get Dual Citizenship by Investment. The Antigua and Barbuda citizenship by investment program grants qualifying individuals citizenship rights and an Antigua and Barbuda passport in three to six months in exchange for the starting investment amount of $100,000.

Why are expats leaving Cyprus?

The main factor for people leaving is the poor performance of the pound against the Euro. Paople have seen their income shrink by a third in the last year and there is no sign of things improving in the short term. Another point is, since Cyprus joined the EU there has been an influx of foreign labour.

What is the easiest European country to retire to from USA?

Based on selection criteria including cost of living, environmental factors, medical care, expat community, taxes & ease of acclimatizing in a foreign country, the top 5 best countries to retire in Europe include Portugal, France, Slovenia, Italy, and Montenegro.

How much is health insurance in Cyprus?

The cost of Cyprus private health insurance heavily depends on the chosen coverage plan and personal factors like age, gender, and medical history. On average, private health insurance for a 35-year-old man can cost from €500 to €720. For an older person, the cost is between €680 and €960.

How much cash can you fly with to Cyprus?

There are no capital restrictions in the Republic of Cyprus. As with other EU countries, travelers to Cyprus must declare cash sums greater than EUR 10,000 upon arrival.

Where is the best place to live in Cyprus?

Is it expensive to retire in Cyprus?

Look into making a move to Cyprus, the third-largest island in the Mediterranean. In the U.S. News & World Report's roundup of the cheapest places to retire on $1,000 a month, the report recommends retirees move to the city of Kyrenia in Northern Cyprus.