I heard that the Cypriot RBI program is just a “life-long travel visa” program, which grants applicants the freedom to travel in and out of Cyprus freely but no other benefits. Applicants cannot work, cannot accept health care or other benefits. Is it true? What benefits am I entitled to if I become a permanent resident of Cyprus through the real estate purchasing route?
Permanent residency in Cyprus entitles you to live in Cyprus and to come in and out of Cyprus freely without a visa. Your children have access to free government school education as any child born in Cyprus would have. You are not permitted to work or obtain health benefits because if you are not working and therefore not contributing to social insurance, you are not entitled to any health benefits.
The benefits vary based on the needs of each applicant. Mainly, you have the right to reside indefinitely in Cyprus. The investment is required only for one time. There is no residency requirement. Family members can be included. You have access to education and right to have your own business in Cyprus. Lastly, you can apply for citizenship if you fulfill the criteria required based on the days of staying in Cyprus.
Kindly note that the benefits of obtaining permanent residency in Cyprus are the following. Applicants and their families can freely stay in the republic of Cyprus. Cyprus is strategically located in the crossroads of Africa, Europe and Asia. Applicants gain access to the best universities and private schools established in Cyprus. Cyprus is the appropriate place for investments. There is a favorable tax framework with a large network of double tax treaties. It is a renowned tourist destination with clear beaches and is one of the safest places to reside permanently. There is sunny weather and a mild climate all year long.
The benefits of the permanent residency program in Cyprus are as follows: fast access to Europe; a two-month procedure; one-year Schengen visa in any European embassy in Nicosia; permanent residence permit is not renewable because it is permanent and for life; the possibility to enjoy education of British universities based in Cyprus; the best medical facilities and high quality healthcare; no inheritance tax; rental income; a passport opportunity; a high quality of life.
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