Cyprus’s immigration policy originated from the provisions of Article 5 of the Immigration Law issued in 1972:
There are overseas (that is, countries and regions other than Cyprus) A person who has a stable source of non-wage income and can freely use this income without engaging in any professional or business activities in Cyprus to obtain income and maintain a high standard of living in Cyprus. The minimum requirement for this income is: 9568.17 euros/year for the main applicant and 4613.22 euros/year for each secondary applicant. The Cyprus Ministry of Interior reserves the right to amend this minimum standard. Most of the people applying for Cyprus immigration permits are such people, and most of them are retired people.
Cyprus house-purchasing immigrants originated from the financial crisis. After the financial crisis, the real estate industry in Cyprus suffered a heavy blow, and a large number of construction workers lost their jobs. In February 2009, as proposed by the Ministry of Interior, the Council of Ministers discussed and decided to extend the scope of the above-mentioned immigration, stipulating that foreign applicants who purchase a house in Cyprus for more than 300,000 euros and have stable overseas income will be given priority in granting a Cyprus permanent residence permit. This policy is commonly known as the "Cyprus House Purchase Immigration Policy". The Council of Ministers submitted the policy to Parliament, which approved it and subsequently amended Chapter 105 of the Immigration Act, making the current Immigration Act the 2009 revised version.
In 2012, the employment situation in Cyprus began to show a serious trend. In order to further encourage foreigners to buy properties in Cyprus to save jobs, on August 23, the government announced the rapid approval of home purchase immigration through the official website of the Ministry of Interior and various government announcements. The standard stipulates that applicants who purchase a house in Cyprus for 300,000 euros and whose annual income reaches 30,000 euros (the income standard increases by 5,000 euros for each additional dependent applicant) will have their immigration applications quickly approved within two months! And it benefits the entire family including some specific financially dependent children over the age of 18. Furthermore, the process is very simple and can even be arranged through a local Cyprus lawyer without the need to visit the country. This makes Cyprus one of the countries with the shortest green card approval time.
identity. Real estate worth at least €500,000 is held permanently in Cyprus and other investments can be sold after three years.
The revised permanent residence policy will take effect on February 22, 2016.
1. Investment/funding standard A. Parents can be brought along
New Cyprus immigration policy According to the regulations, the main applicant needs to provide proof of annual income of 30,000 euros. For each dependent member of the family, proof of annual income of 5,000 euros is required. For the parents of the main applicant and his spouse, proof of annual income of 8,000 euros is required. prove. When assessing the above income amounts, the income of both the main applicant and his/her spouse can be included.
B. Investment through companies
Investment in real estate in Cyprus can be done through a company legally registered in Cyprus or in any other EU member state or European Economic Area country. company.
C. Disposal of real estate investment
After disposing of the property purchased when applying for permanent residence, if you do not immediately purchase a property of the same price or a higher price that meets the regulations (purchase from the developer) , and it is a new house), may result in the residence permit being revoked.
2. Dependents
A. Spouses applying independently
The new regulations allow couples to submit applications independently, and only require one spouse to meet the financial standards of the plan. , each person needs to submit an application fee of 500 euros. The couple's minor children can claim as dependents on both parties' applications.
B. If the main applicant dies
The spouse and minor dependents have not obtained independent permanent residence permits. In the event of the death of the main applicant, the spouse and minor dependents can obtain a permanent residence permit by submitting a new application without meeting any financial conditions.
C. Children aged 18-25
Unmarried children aged 18-25 who are financially dependent on the main applicant, if they are students enrolled in higher education institutions outside Cyprus, You can submit an application independently, and you are required to study for at least 6 months after submitting the application.
D. Parents’ Immigration Permits
According to the new plan, the parents of the applicant and/or spouse can obtain permanent residence by submitting the corresponding application and paying the corresponding fees. rights license. For each dependent parent, provide proof of annual income for an additional €8,000.
3. Qualitative stipulations: Within 1 year from obtaining permanent residence, the holder of a permanent residence permit must go to Cyprus to obtain permanent residence. Holders of this permanent residence permit and family members included in their permit application are required to visit Cyprus at least once every 2 years.
4. Issuing a Permanent Residence Card Cyprus permanent residence does not require a visa stamp in the Chinese passport, a permanent residence card will be issued
Passport Policy Amendment 2016 New Policy will come into effect on February 22, 2016 On September 14, 2019, the Cyprus Interior Minister announced in an interview with the media that Cyprus was amending the bill for non-Cypriot citizens to apply for naturalization.
Key points in the latest changes to the Naturalization Act
Key point 1: Reduce the investment amount
Old policy: 2.5 million euros to buy self-occupied property, or 2.5 million euros to start a business Investment + 500,000 euros to purchase self-occupied real estate
New policy: 2 million euros to purchase self-occupied real estate, or 2 million euros for commercial investment + 500,000 euros to purchase self-occupied real estate
Key points 2: Passports approved for three generations
Old policy: The main applicant + legal spouse + financially dependent children under the age of 28 can be approved for passports. The parents of both the main applicant and the couple apply for reunification and are approved for permanent residence
p>New policy: Main applicant + legal spouse + parents + financially dependent children under 28 years old can all be approved for passports
Note: 1. Parents also need to purchase 500,000 euros in Cyprus the above properties. 2. The spouse’s application can be made simultaneously with the main applicant’s. The application for the nationality of parents and children needs to be applied after the main applicant’s submission is completed.
Key point 3: No need to form a group, each family can apply independently
Old policy: An investment of 2.5 million euros is a collective investment, and 5 groups of families need to be gathered to submit the application
New policy: Each family can apply independently, no need to wait for group formation
Key point 4: Get approved for permanent residence first, and then get a passport
Old policy: Only New policy for passport approval: first obtain permanent residence, then obtain passport, making it easier to enter and exit Cyprus
Important reminder: The old policy is valid until October 31, 2016, and will be valid until that date , investors are free to choose the old policy or the new policy to apply.
Cyprus New Immigration Policy
Cyprus New Immigration Policy - Permanent Residence Policy
● The main applicant must be over 18 years old and have no criminal record;
< p>●● Purchase a property in Cyprus with a net value of 300,000 euros or more;● Deposit 30,000 euros in Cyprus for three years.
Advantages of permanent residence under Cyprus’ new immigration policy
● The processing speed is fast and you can obtain permanent residence status in 2 months;
● Immigration supervision only takes Log in once every two years and it will not affect your normal life and work in China;
● Low threshold, no funding source and business experience requirements, low investment amount, real estate investment accepted, stable and risk-free;
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● Dual nationality is recognized, permanent land title can be passed down from generation to generation, one person applies, and the whole family can obtain immigration status;
● Citizens can be naturalized after having lived for 7 years in total. After obtaining a passport, they can travel freely 159 countries and regions;
● The investment property can be lived in or rented out, with no restrictions;
Naturalization policy of Cyprus’ new immigration policy
● Main Applicant must be over 18 years old;
● No criminal record;
● Purchase a real estate worth 2 million euros (including 500,000 euros for self-occupied residence).
Children under the age of 28 can apply for a passport together. Parents of the main applicant who purchase a house worth 500,000 euros can also apply for a passport together.
Advantages of the naturalization policy of Cyprus’ new immigration policy
● You will receive an EU passport when you buy a house, with no language, residence, management experience requirements, and no explanation of the source of funds;
● Get a permanent residence card in 5 days, and get a passport in 3 months;
● The ultimate solution for international identity, EU passport holders can visit 159 countries around the world without visas (in addition to 28 EU countries, there are also Switzerland, Mainstream developed countries and regions such as Canada, New Zealand, Japan, Hong Kong, Singapore, Australia and Brazil);
● EU benefits: Enjoy medical, education, work and other benefits in 32 European developed countries;
● The property only needs to be held for three years, the property can be rented out within three years, and the property can be sold after three years (you only need to keep a house of no less than 500,000 euros);
● The third generation can take it Passport: main applicant, spouse, children under 28 years old, and parents of the main applicant
● The law is clear, it is held for life, and the identity is safe and risk-free