Cyprus permanent residence for investment in real estate: value, features, nuances.

Cyprus permanent residence for investment in real estate: value, features, nuances.
The residence permit in Cyprus is called Pink Slip and is a reliable insurance for the future, because it is issued forever.
The status of a permanent resident of Cyprus can be obtained through a secure investment in a property. According to the Department of Land Resources and Land Management of Cyprus, in September 2017 there was an increase in sales of real estate (by 18% in annual terms). The statistics of the previous three months are no less impressive: sales grew by 27% in August, 18% in July and 28% in June.
The logical result is & mdash; rising prices for real estate. The report of the representatives of the Central Bank of Cyprus indicates that prices for Cypriot real estate in the first quarter of 2017 increased by 0.3 percent. As representatives of the Royal Society of Real Estate Experts (RICS) predict, the value of real estate in Cyprus will continue to confidently go up. Thus, investing in real estate today can turn out to be a good profit tomorrow.
The benefits of obtaining permanent residence in Cyprus.
We know at least 5 reasons to pay attention to the Cyprus program of permanent residence for investment:
Permanent residents can live freely for a long time in Cyprus, which is not provided by a normal visa. Since Cyprus is not part of the Schengen area, you are limited in travel around the Schengen countries. But there are pluses: you can get a Schengen visa within 7 days. Favorable taxation conditions for program participants. By registering a company in Cyprus, you get all the benefits of a low corporate tax of 12.5% on net profit. Cyprus secured the title of an international commercial center offering an optimal tax system that allows you to direct foreign capital anywhere in the world. The Cyprus tax system complies with the requirements of the EU and OECD. The residence permit is issued for ever, there is no need to renew it. The program participant has a security guarantee for the future. A weighty advantage & mdash; access to health care and education at the European level.
Possession of a permanent residence card for 7 years opens the way for citizenship. Accelerate the procedure for obtaining a passport for Cyprus can be through participation in the state program “Citizenship of Cyprus for investment”, which provides for the acquisition of real estate worth not less than � 2 million with the further possibility of selling it.
On what conditions can I get permanent resident status in Cyprus?
The main criterion for the registration of the status of permanent residence is the purchase of real estate for at least � 300 thousand (excluding VAT). Real estate can be registered with the company if it is registered in the name of the applicant and / or the applicant and his / her spouse. The applicant must be the sole owner of the company. The minimum annual income for each applicant is � 30,000.
For a married couple the following investment options are provided:
up to two units of residential property (apartments / houses); residential real estate object + shop (maximum area of 100 sq. m.); residential real estate object + office (the maximum area is 250 sq.m.).
All real estate (total price & mdash; from & euro; 300 thousand) must be purchased from one builder.
Be ready: the requirements for the applicant.
The main applicant must be over 18 years of age, have an impeccable personal and business reputation, as well as a positive credit history. Another important condition is & mdash; no previous conviction. The application can include a spouse, children under 25 years of age who are dependent, and parents.
In obtaining permanent residence may be denied in the following cases:
the provision of knowingly false information; Detection of outstanding criminal records or criminal proceedings both at home and in any other country; if the applicant is assessed as a person who threatens the established public order; if the presence of the applicant in the territory of the country can affect its reputation and carries with it a threat to national security; if accusations are made or there are suspicions of direct or indirect participation in terrorism, illegal money laundering or crimes related to an attempt on human rights and freedoms.
The process of registration of permanent residence: 5 simple steps.
The process of obtaining the status of permanent residence is extremely simple. You become a permanent resident after 2 months.
Step 1. Purchase of one or more properties worth � 300,000 (+ VAT) in Cyprus. When choosing a property it is worth considering that the conditions of the program exclude the transaction with a private person. The purchase must take place through the participation of the developer.
Step 2. Apply to the Department of Civil Registration and Migration (CMRD). In the presence of the applicant, there is no need.
Step 3. Within 2 months the Ministry of Internal Affairs notifies the applicant or his representative about his decision through the CMRD.
Step 4. Representatives of the Department of Civil Registration and Migration are reviewing the application. After that the Ministry of Internal Affairs through the Permanent Secretary makes a decision. Interview in the case of registration of permanent residence through investment is not required.
Step 5. Within a year after obtaining a positive decision, the applicant needs to come to Cyprus to obtain a resident’s certificate.
Alternative options in Europe.
Undoubted interest of investors is attracted by residence permit programs for investments in such EU countries as Portugal, Greece, Malta and Cyprus.
Prospects for acquiring the citizenship of Cyprus.
The status of permanent residence opens the door for citizenship with further opportunities:
create a “spare airfield” & raquo; in any EU country; register companies and real estate on a second passport; keep your capital in a reliable country.
In the modern world, those who pave new paths of development and think about their safety and the safety of their families in advance win. Today’s steps lead to new prospects tomorrow.
Christina Ruzhilo & mdash; Immigration expert, managing partner of the company & la Migronis & raquo;
tel .: + 7 499 350 2137.
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