The new regulation is published on the website of the Department of Population and Migration of the Ministry of Interior of Cyprus. Cyprus residence permit for investment is indefinite, so it can be called a light version of permanent one.
To obtain permanent residency in Cyprus the following conditions must be met: 1. Buying a residential or other property worth at least €30000 2. Having a stable annual income outside Cyprus of €30000 or more per year
However, the purchase of real estate is not the only way to buy a residence permit, the government has introduced additional opportunities to invest in the Cyprus economy, which in the second year of the coronavirus crisis is in great need of them.
If the purchase of real estate is not in the plans of the investor, there are other options: 1. Acquiring a stake in a Cyprus company worth €300000 2. Acquiring a share in Cypriot investment funds for €300000
Holders of residence permit in Cyprus do not need to live permanently in the country, as in obtaining this status in other countries. You only need to come to Cyprus once every two years.
