permanent residence permit law - cyprus · tel aviv beirut. strategic location on the crossroads of...
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PERMANENT RES IDENCE PERMIT
C Y P R U S
Y O U R G A T E W A Y T O E U R O P E
C y p r u s t h e b i r t h p l a c e o f A p h r o d i t e g o d d e s s o f l o v e a n d b e a u t y
MONACO
CRETE
TEL AVIV
BEIRUT
Strategic location on the crossroads of 3 continents (Europe, Asia and Africa)
Member of the EU and the Eurozone
High level of services, including financial, medical, education, telecommunications etc
Low taxes
Ability to obtain permanent residency / citizenship for non EU citizens through purchase of real estate
The recent natural gas discovery will be a game changer for the domestic economy and real estate values
Mild climate and sunshine (320 days a year)
Beautiful scenery and pristine beaches
Caters to 3.2 mm tourists per year
English language widely spoken
Safe, secure and cosmopolitan environment
High standard but low cost of living
New Marinas, Golf courses and Casinos
CYPRUS
CYPRUS
Pafos PAFOS
INTERNATIONAL AIRPORT
Famagusta
LARNACAINTERNATIONAL AIRPORT
Nicosia
Kyrenia
Larnaca
Limassol
0 % On dividend income for non-Cypriots
0 % instead of up to 8% property transfer fees (if VAT was paid)
0 % On Widow's pension
5 % flat rate on foreign pensions, exemption of 3.417 is granted
First €19.500 are exempt from personal income tax
A reduced VAT (5% from 19%) for main residence purchased
Awarded with 57 Blue Flags for its beaches, most per
Capita in the world (2016)
st1 Safest country in the world for young people
(published by the World Health Organization) 2017
st1 Safest country in the world among small countries and 5th worldwide (2015)
1-3 days to register a new company
th4 (out of 144 countries) on higher education and training (2015)
th5 best relocation destination in the world (2014)
0 % Immovable Property Tax
0 % Inheritance, Wealth and Gift Tax
Capitalizing on its strategic location, Cyprus has developed through the years
into a reputable international services hub, especially in financial and shipping activities.
Since Cyprus' accession to the European Union, its role as a business bridge
between Europe , Asia and Africa is further being enhanced.
Cyprus offers a unique basket of advantages to foreign investors utilizing the island as a base for conducting
their business activities worldwide.
Cyprus' competitive advantages derive from its strategic geographical location, favourable business climate,
fiscal regime, stable macroeconomic environment, high educational level of the labour force in conjunction with
the competitive level of graduates' remuneration, modern legal, banking and financing systems, excellent
infrastructure with advanced transport and telecommunications network, as well as the widespread knowledge
of English.
CYPRUS TAX FACTS AND FIGURES
EUROPEAN CYPRUS PERMANENT RESIDENCE PERMIT
In pursuance of the provisions of Regulation 6(2) of the Aliens and
Immigration Regulations, the Cyprus Minister of Interior, having notified
the Council of Ministers, has decided to issue an Immigration Permit to
NON EU applicants, in cases where certain conditions are satisfied.
TO APPLICANTS WHO ARE NON EU NATIONALS AND INVEST IN CYPRUS PROPERTIES
LEGAL FRAMEWORK
PROPERTY INVESTMENT
ONLY 300,000 EUROS
Guaranteed Fast track straight-forward
procedure
FOR THE ENTIRE FAMILY
PARENTS – CHILDREN – GRAND PARENTS
Cyprus Permanent Residence Permit covers the
whole family including dependents and parents
of the applicant and his/her spouse
VALID FOR LIFE
NO NEED FOR FUTURE RECONSIDERATION
Once every 2 years you need to visit
Cyprus at least for one day
PERMANENT RESIDENCE PERMIT WITH THE PURCHASE OF A PROPERTY
TOP REASONS TO ACQUIRE A CYPRUS PERMANENT RESIDENCE PERMIT
VISA REQUIREMENTS
NO VISA NEEDED TO ENTER CYPRUS
The Cyprus Permanent Residency holder
and his family are free to enter Cyprus
without the need of obtaining a visa
SCHENGEN ZONE
CYPRUS IS EXPECTED TO ENTER
THE SCHENGEN ZONE SOON
When applying for visas to other countries
and in particular a Schengen visa makes it
easier and more convenient for easy travel
and business.
EUROPEAN PASSPORT
YOU BECOME ELIGIBLE FOR CITIZENSHIP
A Cyprus Permanent Resident has the right (under
certain conditions) to apply for a Cypriot passport
following their physical presence on the Island.
PERMANENT RESIDENCE PERMIT WITH THE PURCHASE OF A PROPERTY
TOP REASONS TO ACQUIRE A CYPRUS PERMANENT RESIDENCE PERMIT
PERMANENT RESIDENCE PERMIT IN CYPRUS IN 2 MONTHS
WHO IS ELIGIBLE?
The applicant should be an owner of a property (sold for the first time
by a development company) in Cyprus, a house, an apartment or any
other building, for a minimum value of €300.000 + VAT (if any).
The immigration permit issued to an applicant covers his spouse and
children under the age of 18. The said permit is also applicable for
unmarried children aged 18 to 25 who may prove that they are students
at a University and are financially dependent on the applicant. The said
permit will be valid for life aster the age of 25 without any other additional
document.
The parents of the main applicant and those of his spouse are also eligible
to apply and obtain the Permanent Residence Permit by just showing an
extra 8,000 euros each on the main applicant's income certificate.
“To applicants who are Non EU nationals and invest in Cyprus”
CYPRUS PERMANENT RESIDENCE PERMIT WITH THE PURCHASE OF A PROPERTY
IMMIGRATION PERMIT REQUIRED DOCUMENTS / CERTIF ICATES UNDER REG. 6 (2)
Copy of valid passport of the applicant and his dependants.
Curriculum Vitae.
Original Letter from a financial institution in Cyprus (Bank, Coop) of a deposit
of €30.000, pledged for three years, emanated from abroad.
Declaration of a secured annual income from abroad of €30.000 at least,
(original documents and affidavit or declaration).
Title of ownership or contract of sale of property in Cyprus of a minimum
market value of €300.000 +vat if any (original or true copy). If the title of
ownership has not been obtained yet, the applicant must submit the contract
of sale duly stamped by the Stamps Commissioner and the Department of
Lands & Surveys and proof of payment for at least €200.000 + vat if any.
The amounts paid for the property must be proven to have
been transferred to Cyprus from abroad.
Official Statements by the applicant and his/her spouse that they
do not intent to undertake any sort of employment in Cyprus.
Health Insurance Policy for the applicant and his/her dependants.
Original Criminal Record Certificate duly certified for the applicant
and his/her spouse (if the applicant resides abroad, the certificate
must be issued from his/her country of residence, and submitted with
an official and certified translation).
Marriage Certificate duly certified (official and certified translation).
Children's Birth Certificates dully certified (official and certified translation).
FAQ'S ON APPLYING FOR A CYPRUS PERMANENT RESIDENCE PERMIT
Is Cyprus a member of the European Union?Yes Cyprus is a full member since 2004.
Is my PRP renewable every few months or years?No the PRP is granted for the life time.
How can a PRP be revoked?If the applicant sells his/her property without replacing it with another of the same or bigger value or if the applicant fails to visit Cyprus once every two years. In the case of failing to visit Cyprus within 2 years, the investor has the right to re-apply and re-grant the Residency.
What type of immovable property qualifies for the purpose of a fast track Permanent Residency ?First time sale. Resales cannot be used for Fast Track Residency One or two apartments or one or two houses or combination of eachOne apartment / house and one commercial shop/warehouse or an office.
Is it acceptable if the property is purchased in the name of a company?Yes , provided the applicant is the only owner and shareholder.
Can I buy a property which is still under study or construction?Yes you can.
Can I take up employment in Cyprus?No, however you can Establish a Company and/or-own shares in a company registered in Cyprus and the income from the dividends is not deemed an impediment for the purpose of obtaining an immigration permit.
Do I have to pass a Greek or any other language test or exam?No, it is not required.
LET 'S BE CLEAR
K A M A R E S V I L L AG E
T H E P E R F EC T P L AC E TO L I V E
Kamares Village is one of the most exclusive developments in Cyprus and is
amongst the most distinctive in the Eastern Mediterranean. This project is
characterised by its delicate stone arches and superb location with
breathtaking views of the countryside and Paphos' coastline.
The use of stone, wood and arches typify the landscape whilst swimming
pools, barbeques, sun terraces and even private tennis courts add luxury to
the Mediterranean outdoor lifestyle.
O LY M P US A N D V I K L A V I L L A S
LUXU RY H I L LTO P L I V I N G
Nestling on the hills above Paphos and next to the Tsada Golf Course is the
elegant development of Olympus and Vikla Villas. Based on the success of
Leptos Kamares Village, these homes are carefully sited so that residents
enjoy breath-taking panoramic views of the sea and the countryside.
Cool down during the warmth of the summer season in your private
swimming pool or relax in the warmth of your stone-dressed wood burning
fireplace in the winter months.
A D O N I S B E AC H V I L L A S
E L EGA N T WAT E R S I D E L I V I N G
Adonis Beach Villas is Leptos Estates’ latest most luxurious Development
set in one of the most desirable locations of Paphos. The setting is unique,
just a stonethrow from the sea¬front in a beautiful location midway between
the bustling harbour of Paphos and the blue flag sandy beach of Coral Bay.
The Villas, built to the highest standards feature private pools, large areas of
landscaped gardens, BBQ areas, large verandas and spacious parking
spaces.
CO R A L S E A S V I L L A S
YO U R O W N B E AC H F R O N T L I F E ST Y L E
Coral Seas Villas is set within the famous area of Coral Bay which is
considered to be one of the most attractive bays and sandy beaches in
Cyprus. The area is very popular with international holidaymakers who are
either living permanently in Cyprus or have invested in a holiday home.
Coral Seas Villas is a mixed-use resort comprising of luxury freehold
properties, a private residence club and exclusive retail facilities designed in
enriched Mediterranean style with special attention to detail and quality.
L I M A SS O L D E L M A R
E XC LUS I V E S E A F R O N T L I V I N G
Limassol Del Mar expresses the island's 'new wave' of architecture through
its unique High-rise Curvilinear design, that fully capitalises on the plot's 170
meters long sea frontage, enabling every single apartment of the
development to benefit from direct, wide angle sea views.
Residential with its five-star services & facilities it will blend with a collection
of gastronomic and shopping experiences at a most sought after residential
and leisure address.
B LU E M A R I N E
ST E P I N TO M E D I T E R R A N E A N L I V I N G
M A N D R I A GA R D E N S
E S C A P E TO T H E B E AC H
Mandria Gardens is set on the edge of the peaceful village of Mandria, close
to the sea, in an ideal location only 10 minutes from Paphos town, a short
drive from the golf courses of Aphrodite Hills and Secret Valley and close to
the famous landmark Petra tou Romiou, the mythological birthplace of
Aphrodite, Goddess of Love and Beauty.
The project offers one and two bedroom apartments and penthouses, and
three bedroom detached villas. There are two large communal swimming
pools, both set in beautiful and spacious landscaped gardens.
V E N US GA R D E N S
F R E S H , S I M P L E A N D M O D E R N L I N E S
Venus Gardens is a unique Residential Resort located just a short walk from
the Paphos coastline and the blue waters of the Mediterranean sea. As
Cyprus offers more than 340 sunny days a year this prime location is the
perfect place to sit on your patio sipping wine, watching sailing boats and
yachts move slowly along the blue Mediterranean waters.
Venus Gardens is a Luxury gated community boasting large communal
greens, two communal swimming pools, a clubhouse as well as ten¬nis
court.
A P H R O D I T E GA R D E N S
P E AC E F U L A N D T R A N Q U I L
Leptos Aphrodite Gardens is set to be the most luxurious gated resort
residence in Paphos with a good selection of 1, 2 and 3 bedroom
apartments, penthouses, maisonettes and villas. It is superbly located in
Kato Paphos within walking distance to all amenities and facilities and the
municipal sandy beaches.
Leptos Aphrodite Gardens comprises of 200 properties surrounding two
large free form swimming pools and landscaped gardens. 70% of the site
area is allocated for public, common, private gardens and patios with
extensive planting and landscaping including ponds, irrigation system,
footpaths and sundecks.
LEPTOS GROUP OFFICE LOCATOR
P R O P E R T YD E V E LO PM E N T CO N ST R U CT I O N P R O P E R T Y
M A N AG E M E N T R E N TA L S E R V I C E S P R O J ECTM A N AG E M E N T
P R O P E R T YI N V E STM E N TS
N EA P O L I SS M A R T ECO C I T Y
S I G N I F I CA N TH O L D I N G S
A N D I N V E STM E N TS
H OT E L OW N E R S H I P A N D
M A N AG E M E N T
T R AV E LA N D
TO U R I S M
R EA L E STAT E
3 5 0 P R O J ECTS
2 5 .0 0 0 C L I E N TS
E D U CAT I O N
U N I V E R S I T YOW N E R S H I P
A N D M A N AG E M E N T
H EA LT H CA R E
H OS P I TA LOW N E R S H I P
A N D M A N AG E M E N T
L E PTOS G R O U P
LEPTOS ORGANISATIONAL CHART
S U P E R B I N V E STM E N T O P O R T U N I T I E S
I N S P ECT I O NV I S I T
R E SA L E S E R V I C E S
P E R M A N E N T R E S I D E N CY ACQ U I R E D
P R O P E RT YM A N AG E M E N T A N D
M A I N T E N A N C E
P R O P E RT YS E L ECT I O N
R E N TA L S E R V I C E S
Leptos Estates is a vertical intergrated company offering a fully comprehensive service to its clients. A highly qualified and experienced
team of specialists, architects, civil and mechanical engineers and interior designers are always on hand to smooth out every property purchase
SERVICES
Leptos CardGold
Great Locations - Amazing Hotels
Elegance and charm of Resort Hotels
Setting of tranquillity and stunning views
Beautiful places-Inspiring spaces
The best value under the Sun
Secure your future with NUP
First and only University in Pafos
Education is life itself
Your University-Your Future
Academic Excellence
Best Medical Care
Pleasant and hospitable atmosphere
Functional, Comfortable, Trusted
A great place to receive care
A safe future for healthcare
Holidays Education Healthcare
As a small gesture of our appreciation we provide every new buyer of Leptos Estates properties in Cyprus with the Leptos Gold Card that will entitle you to enjoy the benefits from an exclusive privileged programme
LEPTOS GROUP OF COMPANIES
A 58 YEAR SUCCESS STORY
+ +
2017
BEIJING - CHINA907, Block C, Vantone Center,Jia No.6, Chaoyangmenwai StreetChaoyang District, Beijing
T: (+86) 10 5907 3099F: (+86) 19 85731449E: [email protected] URL: www.LeptosEstates.cn
DUBAI - UAEEmirates Financial TowersDIFC - North Tower - No. 319P.O. Box 506910, Dubai - UAE
T: (+971) 4 3528191F: (+971) 4 3528881E: [email protected]: www.LeptosEstates.ae
MOSCOW - RUSSIAMoscow City - Empire Tower6, Presnenskaya Naberezhnaya Building 2, Floor 44, Office 4413Moscow - 123317, Russia
T: (+7) 4959741453/54E: [email protected]: www.Leptos-Estates.ru
UKRAINE- KIEV44, Shota Rustaveli street, office 6, 01033Kiev, Ukraine
T:(+38) 063 609 69 86E: [email protected]: www.LeptosEstates.ru
LONDON - UKLeptos UK Ltd.1, Berkeley StreetMayfair, London, W1J 8DJ, UK
T: (+44) 208 883 2333F: (+44) 208 883 6464E: [email protected] URL: www.LeptosEstates.com
AMMAN - JORDAN
Mecca street, Al Husseini towers,building No 164, 4th floor, office #403, Amman, Jordan.
M: (+962) 79 816 5299E: [email protected]: www.LeptosEstates.com
PAPHOS - CYPRUS
The Leptos House111, Apostolos Pavlos Ave, CY-8046, P.O. Box 60146, CY-8129Paphos, Cyprus
T: (+357) 26880100E: [email protected]: www.LeptosEstates.com
NICOSIA - CYPRUS9, Dhemetsanis str.CY-1070 NicosiaP.O. Box 24862, CY-1304Nicosia, Cyprus
T: (+357) 22458745E: [email protected]: www.LeptosEstates.com
ATHENS - GREECE37, Achaias str. 115 23 AmbelokipiAthens, Greece
T: (+30) 210 6083800F: (+30) 210 6083849E: [email protected]: www.LeptosGreece.com
LIMASSOL - CYPRUS104, Amathountos Avenue, Shop 5, 4532 Agios TychonasLimassol, Cyprus
T: (+357) 25873233F: (+357) 25312031E: [email protected]: www.LeptosEstates.com
CHANIA - GREECE81, Chalidon str.73 100, ChaniaCrete, Greece
T: (+30) 2821020830F: (+30) 2821033647E: [email protected]: www.LeptosGreece.com
PAROS - GREECEEkatondapiliani84 400 ParoikiaParos, Greece
T: (+30) 2284028503F: (+30) 2284028504E: [email protected]: www.LeptosGreece.com
HEADQUARTERS