- Cyprus Why Cyprus?
Cyprus Residency By Investment
For investors who don’t need a passport, Cyprus also offers a residency-by-investment program at a sharply reduced cost. Investors must demonstrate that they have an annual income of at least 30,000 euros and depending on the number of dependents applying with the applicant, deposit at least 30,000 euros in a Cyprus bank, and purchase a first-sale residence valued at 300,000 euros or more.
At least 200,000 euros of the property investment must be paid in order to start/lodge the P.R. application.
In February 2017, Cyprus also introduced a start-up visa on a pilot basis, allocating 150 visas for the program’s first two-year period. The visa grants a two-year residency visa to the founders of businesses with 50,000 euros (£44921.50) in start-up capital, as long as the companies spend at least 10 per cent of their operating costs on research and development. After two years, recipients can qualify for permanent residency as long as their companies are found to be successfully creating jobs, paying taxes, and delivering technological innovation.