Cyprus is a beautiful and safe country with a population of 1.1 million people.
The country became an EU member state in 2004 and is one of the most attractive business places in the EU. The country has an excellent education system, with several UK universities on the island. It has a lowest crime rate in European Union and is the 5th safest country in world.
Cyprus is an attractive place in which to reside, has a warm and stable climate, and is in a convenient geographical position in the Eastern Mediterranean.
In line with the Cypriot government’s intention to increase foreign investment and to help its economic development, Regulation 6(2) of the Aliens and Immigration Regulations has recently been simplified by the Ministry of Interior in order to issue residence permits to applicants from non-European countries who intend to invest in the republic, provided that the following requirements are met:
A fee of EUR 500 is payable with the submission of the application and EUR 50 extra for biometric capturing. The application will then be examined by the Civil Registry and Migration Department and will be submitted to a permanent secretary of the Ministry of Interior, who will make a decision within two months. Once approval has been granted, the applicant and all the members of the family must visit Cyprus within one year to obtain the actual permit.
When in Cyprus, a visit is organized to the migration office in Nicosia in order to capture the biometric data for all members of the family applying. The biometric data can be submitted either with the submission of the application for residence, during the application process, or immediately after approval.
To see how the combined expertise and global reach of our specialists could also work for you, please Contact Us for further information or to arrange a private consultation.