Below you can find the majority of the answers that you are looking for, in relation to the granting of an immigration permit under Provision 6(2) of the Aliens and Immigration Regulations. Important to notice is the fact that there are more requisitions to be considered eligible under this specific section. The applicant should submit, together with the application, title deeds or a sale contract in his/her name and/or his/her spouse, which has been officially filed at the Department of Lands and Surveys of real estate and of total market value of at least 300,000 euros (VAT is not included therein) and official payment receipts of at least 200,000 euros (excluding VAT), irrespective of the delivery date of the real estate. It should be stressed that the full payment of the real estate value shall be settled in an account in a financial institution in Cyprus. The abovementioned amounts must be proven to have been transferred to Cyprus from abroad. It is noted that the real estate purchase may be accepted even when made in the name of a legal person, provided that the applicant and/or his/her spouse are the sole shareholders or the ultimate beneficial owners of it, and that this legal person is legally established in the republic or other member state of the European Union or European Economic Area. For the purpose of implementing this policy, the applicant may purchase up to two housing units (apartments or houses), which can be independent, but be purchased from the same development company, or one housing unit and a shop of a surface of up to 100 square meters, or a housing unit and an office of a surface of up to 250 square meters, provided that the total market value satisfies the aforementioned economic conditions. In the case of a couple, these restrictions apply for the couple and not for each of the persons involved. The said purchase must be in relation to a property (and the combinations described above) sold for the first time by a development company. In the case of acquiring two dwellings, both must be sold by the same development company. As from 7/05/2013, for the purpose of this policy, applications in relation to the re-sale of dwellings will not be accepted. It should be stressed that sale contracts in relation to a re-sale of dwellings that have been officially filed at the Lands and Surveys Department prior to 07/05/2013 (the date of filing the sale contracts is to be confirmed by the Department of Lands and Surveys), shall be accepted for the purpose of implementing this policy. It is noted that the alienation of the purchased property without an immediate replacement with another property, as it is described at the beginning, of the same or/and higher value and in accordance with the conditions of this procedure, (i.e. sold for the first time by a development company), will result to the cancellation of the Immigration Permit pursuant to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations.
