The residence for investment programmes – the so-called Golden Visas – introduced in Cyprus offer property buyers and their families the chance to obtain permanent residency for as little as €300,000. Alternatively, you could become a citizen for a €2 million investment. All you have to do is buy a property and visit every now and then.
These days it’s not just the super-rich who can invest a bit of cash in their preferred destination for the right to live there. Cyprus is a prime example of this: the island’s government made the shrewd move to cash in on residential property revenue, by introducing an affordable Golden Visa programme through investment in bricks in mortar.
This has pricked the ears of British citizens concerned that Brexit could cause the sun to set on their rights to live and work in the EU once Brexit happens. It’s also been welcomed by other foreign nationals who want to live in Cyprus on a permanent basis, or even proudly call themselves Cypriot.
The island’s government made the shrewd move to cash in on residential property revenue, by introducing an affordable Golden Visa programme through investment in bricks in mortar.
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Permanent Residency
Considered one of the most simple and affordable Golden Visa programmes in Europe, all you have to do to gain permanent residency in Cyprus is invest in a new-build property equal to or above €300,000 (£257,000). With that kind of budget you could just about afford to buy a one-bedroom flat in London, while in Cyprus you’ll be able to pick up new three-bedroom villa with sea views. You won’t struggle to find newly constructed property to your liking on the island following a new home building permit boom there.
Luxury homes in Coral Bay Beach: all this and a visa too? (kirill_makarov / Shutterstock.com)
Your residency permit, which should be issued within a couple of months, extends to family and dependants under the age of 25. Once your permit’s in the bag all you have to do is visit once every two years to maintain its validity. We’re sure you’ll be able to manage that given Cyprus is blessed with over 300 days of sunshine a year.
Golden Visa scheme for permanent residency:
– Investment of €300,000
– Simple and fast process
– Visit required once every two years to maintain residency
– Full family residency granted (grandparents, parents and dependent children)
– Investment into new property only
– Travel throughout the EU
Citizenship
The Cypriot government is also tempting property buyers with slightly deeper pockets to the island, by offering them the chance to be awarded citizenship. If you have a couple of million euros lying around, the Cyprus citizenship scheme is one of the quickest and most assured in Europe.
If you are planning a trip to Cyprus to look at property, download our free Viewing Trip guide to help keep you on track and well organised.
For you and your family members to qualify you need to invest €2 million in residential property on the island – no residency restrictions apply. A successful application will guarantee you an EU passport within three months. Citizenship via residential property investment in Cyprus will allow entrepreneurs to conduct business throughout the EU too.
Golden Visa scheme for citizenship:
– Investment of €2 million
– No residency requirements
– Become full EU citizen
– Simple and fast process (European passport in two months)
– Full family citizenship granted (children up to 28)
If you have a couple of million euros lying around, the Cyprus citizenship scheme is one of the quickest and most assured in Europe.
Whatever the size of your budget there’s never been a better time to invest in property in Cyprus. Not only are prices on the up, making a home here a sound investment, the governments two Golden Visa schemes are a fast and efficient means of obtaining a residency permit and second passport. In fact they are proving so popular that they have already raised some €4 billion in revenue for the Cypriot government.
The Cyprus Buying Guide takes you through each stage of the property buying process, with practical recommendations from our experts who have been through the process themselves. The guide will help you to:
