Yes, Cyprus is a better option in many aspects. In essence, you may acquire permanent residence for life by purchasing a property valued at 300,000 euros + VAT and proof of funds of Eur50,000.
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Is Cyprus a better option than Spain?
I am studying my golden visa options for Europe and I see that Cyrpus and Spain are the cheaper alternatives right now. There's also information that Spain could end the property visa eventually. Is Cyprus a safer option?
Answers
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Golden Visa - Cyprus Immigration Permit for Investors: - This programme was amended in May 2023 to attract more investors. - A non-European investor and his family members can enjoy Permanent Residence in Cyprus by investing €300.000 in: A. Residential property (house/flat) B. Commercial property (offices, etc.) C. Regulated Fund D. Established Cyprus limited company - The applicant must demonstrate a guaranteed annual income of €50,000 (this income must be sourced from abroad, from the country where the applicant is a tax resident). Additionally, this income must increase by €15,000 for the spouse and €10,000 for each minor child of the applicant and/or their spouse. Under specific criteria, unmarried children between the ages of 18 and 25 who are dependents of the investor can also obtain permanent residence through the investment. - No permanent residence permit will be granted to any other adult individuals (non-dependent adult children, parents, and in-laws) unless an additional investment of €300,000 has been made. - This option does not have an expiration date. - The investor is not permitted to engage in any form of employment, but they can be a shareholder in a company to receive dividends and can also be appointed as a director without a salary, primarily functioning as a silent partner. Furthermore, the applicant is allowed to receive income from the investment made in Cyprus, such as rental income from properties. - It is important to note that foreign nationals who have completed seven years of legal residence in Cyprus have the right to apply for Cyprus citizenship. - The examination period for this option is approximately three months from the date of application submission. Our fees for this option are as follows: €6000 + VAT + actual/government expenses.
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