Why choose Permanent Residency in Cyprus

Table of Contents

Benefits of Permanent Residency in Cyprus
Why Cyprus
Types of investments that an individual can choose for PR
Requirements of Permanent Residency
Why Choose Oneworld?

Are you thinking of moving to Cyprus?

The Permanent Residency (PR) is a famous investment program by the government that allows applicants to obtain a residency in Cyprus. With residency in Cyprus, non-EU individuals have access in a stable economy, high quality of life and access to a global business environment. That’s why many individuals choose this program.

The Permanent Residency has the fast-track and low-track procedure that Oneworld can help with both. In this article we focus on the fast-track procedure that an individual can get the residency easily and the process can be completed within 2-4 months. If you want to learn why to choose this program and Cyprus for Residency, the types of investments that you can invest, the requirements you need to assume and how Oneworld can be your partner in this journey, you are in the right article!

The Cyprus Investment Program offers numerous advantages for individuals seeking to secure residency in an attractive European destination. Through this program, applicants can gain Cyprus Permanent Residency, which provides a range of benefits, including the right to live indefinitely in Cyprus, access to high-quality healthcare and education. Let’s see the benefits of Cyprus Permanent Residency.

Benefits of Permanent Residency in Cyprus

You get access to the EU
Granted for indefinite duration, no renewal required, just a visit every 2 years
No minimum residence stay required
Can move into a purchased house immediately
Fast track residency can be granted in 2 months
Exempts holders from immigration entry procedures
Applies to the whole family (spouse and children under 18 yrs or 25 yrs under circumstances)
After 5 years you may also obtain citizenship

With these benefits individuals can confirm that this program is beneficiaL, offering advantages such as EU access and skipping long immigration lines. Now, why choose Cyprus for permanent residency? Here’s why Cyprus is an ideal destination.

Why Cyprus

Cyprus has one of the lowest tax rates in the EU (12,5%), no inheritance tax and favorable international double tax treaties
Legal system based on English common law
English language is widely spoken and accepted as the business language
High level and mature professional services industry
Access to reputable private and public schools including British universities based in Cyprus
The Mediterranean climate – most days in Cyprus are sunny
High quality healthcare
People are kind and friendly, well-known for Greek hospitality

With these benefits individuals can confirm that Cyprus is the best option for them to relocate their business and have access in this beautiful island. If you want to make a permanent residency in Cyprus and you want a flexible program, in the fast track procedure there are many types of investment that an individual can choose for PR.

Types of investments that an individual can choose for PR:

1. If you want to invest in a House or an Apartment

The individual must buy a first sale house or apartment that costs minimum €300,000 (plus VAT).

2. If you prefer to invest in real estate (excluding houses and apartments)

The applicant can buy a resale office, shop, hotel or a related real estate entity with total €300,000 (plus VAT).

3. The option of investing in Cyprus Company with activities and employees in Cyprus

The applicant must invest in the initial share capital of a new company of €300.000 or share capital increase of €300.000 in an existing company registered in the Republic of Cyprus, which is based and physically operates in Cyprus with minimum 5 employees.

4. If you want to invest in Cyprus Investment Collective Investment Fund

The applicant must invest €300.000 in units of a Cyprus Investment Collective Investment Fund whose investments should be carried out in the Republic of Cyprus.

These are the investment options available for PR, helping you choose the one that suits you best. When you decide about the investment you want to make, the next step is to check the requirements.

Requirements of Permanent Residency

The applicant must have an income of €50,000 minimum. This amount increases by €15.000 for his/her wife and €10.000 for every dependent child.
Clear criminal record
The applicant does not have the right to work in Cyprus. However, if the individual chooses to invest in the initial share capital of a new Cyprus company and become a director, they can receive a director’s salary.

Once you fulfil these requirements and you are ready to continue with the process, Oneworld can take the lead and help you transmit your business easily in Cyprus.

Why Choose Oneworld?

Oneworld is a leading advisory and corporate services firm specializing in Permanent Residency. With decades of experience, we offer tailored solutions to help investors, and their families secure permanent residency through Cyprus.
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