The Cyprus Permanent Residency program enables non-EU nationals to acquire a Permanent Residency Permit (PRP) by investing in Cyprus a minimum of €300,000 (+VAT if applicable). Acquiring real estate property in Cyprus is one of the eligible investment types. The eligibility criteria have recently changed to include not only residential, but also commercial properties.
Eligible real estate investments:
• Residential Property: One or two new residential properties (cumulative value at least €300,000); purchased from a developer.
• Commercial Property: Any other real estate property investment in Cyprus is also eligible including offices, shops, hotels, other real estate investments or developments. The investment can be in one or more properties and the properties can either be new or resale.
The PRP program covers the whole family! A PRP can also be granted to an applicant’s relatives: dependent parents, dependent children up to the age of 25, spouse as well as the spouse’s parents. The process is simple, straight-forward and fast; typically a PRP is granted in two months.
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