Live, study and work freely in Cyprus & the EU

A Cyprus visa will allow you and your family to freely travel, reside, study, work and do business within the European Union (EU).

Living in Cyprus & the EU

Indeed, there are many attractive benefits of being within the EU. Cyprus is an ideal hub, and itself a fantastic place to be based, and living. Cyprus offers:

• A very high standard of living, with ideal (sunny) climatic conditions, excellent food, diverse nature within close proximity, and a relaxed pace of life
• Excellent investment opportunities, particularly in light of the previous downturn, lowering prices/costs and establishing great buys, such as in real estate, and
• Ideal business possibilities, being within the EU/Europe and yet also close to Asia-Middle East, Africa, and Russia/CIS countries. As a key business destination, Cyprus has the EU's most attractive taxation regime, especially for new investors, and new residents. It also has a highly educated, skilled and cost effective workforce, particularly well suited to services sectors.

Did you know, about Cyprus?

Some interesting facts to note about Cyprus - a great time and place to invest, do business and live:

• Economic recovery came much faster than anticipated, further verifying its ability to implement reform and whatever is needed to progress forward, as well as its resilience. At the same time, international rating agencies have increased Cyprus' position. This means it's a great time and place to invest, do business and live.
• Not too long ago, Cyprus discovered natural resources (hydrocarbons) in its Exclusive Economic Zone. Major global energy companies have already invested and continue to explore the extent. This means it's a great time and place to invest, do business and live.
• Cyprus is arguably one of the most liveable countries in the world, driven by the 3 S's - Safety, Slow-pace Life, and Sunshine. Recently, Cyprus ranked 1st safest country in the world among small nations, and 5th globally among all nations, and ranked as the 5th best relocation destination in the world in an international lifestyle review by Knight Frank global real estate consultancy firm. It also happens to be the sunniest location in Europe, and together with a relaxed-paced of life, widely regarded as one of the happiest places. This means it's a great time and place to invest, do business and live.

Why the citizenship programme

The government in Cyprus made some changes to the law to encourage greater economic stimulus, namely via investments and new residents to enrich the business environment, as well as greater society.

Changes to the Cypriot immigration policy and legal framework have enabled non-EU applicants to obtain permanent residency and Cypriot citizenship on an expedited basis. Cyprus residency and citizenship by investment is available to foreign investors subject to meeting the legal requirements. There is also a “fast-track” citizenship scheme aimed at high net worth individuals, investors and entrepreneurs. This allows the successful applicant and their family to hold a Cypriot passport and enjoy all the benefits of a Cyprus and EU National.

Such citizenship programmes exist in many countries, or via more solid business structures. Studies undertaken by international immigration experts, rank the Cyprus Citizenship by Investment programme among the top ten in the world.

Requirements overview

Important Read: This is only a brief overview. There are certain terms and conditions as part of the legal procedure to obtaining residency or citizenship in Cyprus. For more specific information and to start the process of looking for an ideal property, Contact Urban Keys. Our team will inform you of more detail, as well as of course guide you through the process to make it efficient.

To obtain permanent residence in Cyprus, non-EU investors have to spend at least €300,000 on a property (not including VAT and/or transfer fees). Property can be part of new developments, or re-sales (although differ slightly in end terms), and the first €200,000 must be funds from abroad.

They must also prove that they have no criminal record and are in good financial standing, in turn agreeing to deposit €30,000 for a minimum of three years in a local Cypriot bank account, and maintaining health insurance, among other requirements. Immediate family members can also get residence, but a further €30,000 has to be deposited for each one.

The permit normally arrives in about 45 days.