With over 10,000 years of history, 320 days of annual sunshine and a unique location at the crossroads of 3 continents, it’s not difficult to see why Cyprus is a popular base for the business community and their families. Nestled between Europe, Africa and Asia, this Mediterranean island is a hotspot for tourism, with a wealth of historical and archaeological sites, Blue Flag beaches, extensive forests and nature trails, executive hotels, spas and golf courses, wineries, water sports and luxurious yachts.
Whilst tourism is a major income source for the island, the region also benefits from a variety of other business opportunities and investments. Encouraged by favourably low taxes these include agriculture, shipping and marinas, property development, tax and finance, and more recently, ventures into the gas, oil and photovoltaic industries.
A purchase of one newly developed residential property with a purchase price of at least 300,000 EUR.
A purchase or two newly developed residential properties from the same developer, with a combined purchase price of at lease 300,000 EUR.
A minimum cash deposit of 30,000 EUR to be paid into the applicant’s own Cypriot bank account. The deposit must be retained in the account for not less than 3 years from the date of deposit.
No additional contributions are required.
Ownership of the residential property, or properties, must be retained during the period of residency.