Non-EU citizens who purchase property in Cyprus can benefit from a new and accelerated procedure for obtaining a permanent residence permit. This less costly alternative may appeal to retirees. It may also appeal to those who wish to use Cyprus as a base for their professional or business activities.

The parents of permanent residency permit holders or future applicants may also apply for a permit.

There are a number of criteria the applicant must meet for this programme and the minimum investment is €300,000.

The Cyprus Permanent Residency Programme is cost-effective, permits may be obtained within a short period of time and the requirements regarding residency periods are not onerous.

Our team would be happy to guide you through the process and provided all the criteria are met, the permit is usually granted, after being examined by the Minister of Interior, within one to two months.

Earl Cyprus has considerable experience in incorporating, managing and administering companies. Such companies often have foreign shareholders and/or form part of a wider international group, and hold properties, investment portfolios or subsidiaries worldwide. The team at Earl Cyprus are experienced in dealing with a range of other jurisdictions and benefit from a broad network of trusted advisors internationally.

Cyprus’ well-developed body of trust law make it an attractive jurisdiction from which to assist our clients with succession planning. Cypriot trusts also benefit from a favourable local tax regime.