Benefits of the Permanent Residency

Benefits of the Permanent Residency
Tue, 7 Feb 17

The fast-track Permanent Residence Programme enables the granting of a permanent residence permit to foreigners who intend to invest in Cyprus, provided that the following requirements are met:

Residential or other property with minimum market value of € 300,000 + VAT purchased in Cyprus

Secured annual income from abroad and from sources other than employment in Cyprus

Funds transferred from abroad and deposited in a Cyprus Bank in a three year Fixed Deposit Account

The residence permit holder must visit Cyprus at least once every two years to maintain his/her status
 

ADDITIONAL BENEFITS

No language requirements

Cyprus is a common law jurisdiction

Property acquired is freehold

No inheritance tax

Low property tax

Zero Capital Gains Tax for every property purchased (valid until 31/12/2016)

Reduced 5% VAT

Strategic location: at the crossroads of three continents: Africa, Asia and Europe

Access to beaches, mild climate, and tourist destinations in Cyprus

Lowest crime rate in Europe

High-standard educational institutions and healthcare facilities

Advanced infrastructure and modern airports with connections to all major destinations

More details click here: http://www.africanosproperties.com/EN/cyprus-permanent-residency

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land and building developers association International Real Estate Federation