Cyprus residence permit biometric card

Cyprus residence permit biometric card, Purchase a new house or apartment. Investors can buy one or two properties, even from different developers, provided the total value meets the minimum threshold. Investments in off-plan properties are also eligible.

• Commercial Property: Investment in commercial properties such as offices, retail spaces, or hotels is permitted. Unlike residential investments, commercial investments can include resale properties.
• Cyprus Company Share Capital: Establish a new company in Cyprus or purchase shares in an existing one. The company must have a physical presence in Cyprus, employ at least five people, and operate within the republic.
• Collective Investment Schemes: Purchase units in Alternative Investment Funds (AIF), Alternative Investment Funds with a Limited Number of Persons (AIFLNP), or Registered Alternative Investment Funds (RAIF).

Income and Financial Requirements

In addition to the investment, applicants must demonstrate a secured annual income of at least €50,000 to support themselves and their dependents. This amount increases by €15,000 for a spouse and €10,000 for each dependent child. For residential property investors, the entire income must be generated from sources outside of Cyprus. Other investment options allow income to be sourced from within Cyprus, provided it is taxed locally. Acceptable income sources include salaries, dividends, rental income, pensions, and interest from fixed deposits.

Required Documents ; Cyprus residence permit biometric card

• Valid passports for all applicants and their family members.
• Updated CVs for each applicant.
• Official marriage certificate (if applicable) with a certified English translation and apostille stamp.
• Official birth certificates of dependent children, translated into English and certified.
• A criminal record certificate from the applicant’s country of residence, with an official English translation and necessary certifications.
• A formal declaration from the applicant and spouse affirming that they will not engage in paid work in Cyprus.
• Original tax statements or auditor confirmations from the applicant’s country of tax residence, supported by a sworn affidavit, verifying the necessary income levels.
• Documentation proving that the investment funds were transferred from abroad to Cyprus, such as bank transfer receipts.
• Valid health insurance coverage for the applicant, spouse, and underage children if not already covered by the General Healthcare System (GESY).
• A signed and certified authorization form if a representative is handling the application on behalf of the applicant.
• Proof of enrollment in a university for dependents aged 18-25, along with other required documents.
• The contract for purchasing the property, with proof of payment amounting to at least €300,000 (for real estate investments).
• Agreement detailing the purchase of shares in a Cyprus-based company (for company share investments).
• Certificates of incorporation and shareholder details (for company share investments).
• Documentation showing proof of purchased units in the investment fund (for collective investment schemes).
• A confirmation letter from the Cyprus Securities and Exchange Commission regarding the fund (for collective investment schemes).