CYPRUS PERMANENT RESIDENCY PROGRAM

Cyprus offers the fastest route to a European Union passport to individuals looking to invest through real estate with no donation required to the government.

The Cyprus Investment Program (CIP) requires a purchase of a permanent residence of minimum EUR 500,000 and a further investment of EUR 1.5 million in a single or portfolio of residential properties. After 3 years the real estate investment can be reduced to the EUR 500,000 permanent residence, to be held for perpetuity. The Cyprus Investment Program grants a Cypriot citizenship and passport within 7 months. The Cypriot passport is an EU passport with freedom of movement, employment and settlement anywhere in the European Union, Switzerland, Norway and Iceland and visa free travel to 158 countries including the UK, and Canada. An EU passport also provides reciprocal healthcare and education benefits among European Union member states.

Cyprus also offers a residency by investment program. The Cyprus Permanent Residency Program requires a real estate purchase of EUR 300,000 and a deposit of EUR 30,000 in a fixed deposit in a Cyprus bank for 3 years. The program grants a permanent residency in 3 months with the right to live and work in Cyprus and travel visa- free within the Schengen zones.

3 generations can be included in one application which cover: investor, spouse, children under 18 years, dependent children between 18-28 years who are in full time education and financially dependent on the primary investor and dependent grandparents. Dependent grandparents can be included in CIP with an additional investment of EUR 500,000. Both programs do not carry any requirements of minimum physical presence in Cyprus i.e. the investor can maintain Cyprus residency and citizenship while continuing to live in their country of domicile without relocating to Cyprus.

That said, Cyprus is ranked as a top relocation destination; the only European country alongside Switzerland to make it to the top 5, ahead of London, Madrid and Monaco. Located at the cross roads of three continents: Africa, Europe and Asia, Cyprus enjoys an enviable location, 320 days of sunshine, the clearest waters in the Mediterranean and the title of being the safest country in Europe. The country boasts substantial oil and natural gas reserves and is a hotspot for global energy giants. Cyprus also ranks highly due to its favourable tax environment- attractive regime for new citizens who are tax residents but not domiciled in Malta, double taxation treaties with 52 countries, low corporate tax rate at 12.5 percent and low property tax.

ActiveAvenues offers real estate investment options with 'Class A' property development companies in Cyprus, a distinction given to companies with a reputation for high quality construction and the ability to undertake and execute projects of unlimited number, size and value suitable for the Cyprus Investment Program and Cyprus Permanent Residency Program.