Expedited Investor Immigration Permit

The applicant must invest at least€300,000 in one of the following investment categories:

**(A) Investment in a house/apartment:** Purchase of a house or apartment from a development company, which must be a first sale worth at least €300,000 (plus VAT).

**(B) Investment in real estate (excluding houses/apartments):** Purchase of other types of real estate such as offices, shops, hotels or related estate developments, or a combination thereof, with a total value of €300,000. These purchases may result from a resale.

Investment in Cyprus Company’s share capital, with business activities and personnel in the Republic:** An Initial investment worth €300,000 in the share capital of a newly registered company in the Republic of Cyprus or an increase in the share capital worth €300,000 of an existing company registered in the Republic of Cyprus, based and operating in the Republic of Cyprus and having a proven physical presence in Cyprus, and employing at least five (5) people.

**(D) Investment in units of Cyprus Investment Organization of Collective Investments (forms of AIF, AIFLNP, RAIF):** Investment worth €300,000 in units of Cyprus Investment Organization Collective Investments, whose investments should be held in the Republic of Cyprus.

The applicant must invest at least€300,000 in one of the following investment categories:

The total market value of at least €300,000 (plus VAT, if applicable) and the official payment receipts should be at least €300,000 (excluding VAT), regardless of the property’s delivery date.

The applicant should, in addition to the investment under Paragraph 2.1 above, be able to prove that he has at his disposal a personal secure annual income of at least €50,000. This annual income increases by €15,000 for his/her spouse and by €10,000 for each of his/her or his/her spouse’s dependent minor child.

A fee of €500 is charged upon application submission, as well as a fee of €70 for each person included in the application for issuing the Alien Registration Certificate (ARC), where it does not already exist.

It is noted that any alienation of the holder of the Immigration Permit from the investment he/she has made without its immediate replacement with another of the same or greater value which must meet the conditions set out in the present procedure, will result in the cancellation of the Immigration Permit based on the provisions of Regulation 6 of the Aliens and Immigration Regulations.

the requirement for annual submission of proof that the applicant maintains the income determined for him/herself and his/her family members is abolished.

The applicant and the adult members of his/her family are obliged to submit a clean criminal record certificate from their country of origin and their country of residence every three years, instead of annually. The requirement for the applicant to provide evidence of maintaining his/her investment on an annual basis, as well as the fact that the applicant and his/her family members are holders of a health insurance certificate in case they no longer continue to be beneficiaries of GESY, remains valid.

An Immigration Permit shall cease to be valid if the interested person and his/her dependents fail to acquire residence in Cyprus within one year from the approval of the application, in case that they are residing outside Cyprus.

An Immigration Permit shall cease to be valid if the interested person and his/her dependents acquire permanent residence abroad or be absent from Cyprus for a period of two years.

**5.1** The Immigration Permit is issued to the applicant and it covers his/her spouse and their children under the age of 18 as dependent persons.

Two separate Immigration Permits may be granted to each spouse, if desired, provided that a separate application is submitted and the relevant fee is paid, without being required for the other spouse to satisfy the criteria of this policy.

**5.2** Unmarried children between the ages of 18 and 25, who have proved that they are students of tertiary education abroad at the application’s submission date and are financially dependent on the applicant, can submit their own, separate application for an Immigration Permit with the payment of the relevant fee. In such a case, the father or mother and/or both parents together must present an additional annual income of €10,000 for each such dependent child.

An Immigration Permit may also be granted to children of the applicant who are over the age of 18, not financially dependent on the applicant, on a higher value investment.

The market value of the €300,000 investment should be multiplied by the number of adult children

**3.3** The applicant and his/her spouse shall confirm that they do not intend to undertake any form of employment in the Republic, with the exception of their employment as Directors in a Company in which they have chosen to invest under this policy.

It is noted that, if for any reason the Immigration Permit granted to the investor is cancelled, this will result in the cancellation of the spouse’s Permit

The residence right of such permits is of unlimited validity, for the holder and his/her adult dependents. The residence permit (card), however, has an expiry date of ten years from the date of its issuance and must be replaced with its expiration.

The residence permit which is issued to the underage dependents is valid until the age of 18.