VLT HIGH-END PROPERTIES LTD Reg. No. 870 & Licence No. 435/E

This simple process should take no longer than 2 months and can begin right after the acquisition of real estate for the amount of not less than €300,000

Investing in real estate in Cyprus has grown in popularity among those seeking to establish permanent residence here with us. Cyprus has a favorable tax code in addition to a high standard of living, stunning scenery, and a Mediterranean climate. Foreign investors may qualify to apply for citizenship through the Cypriot government's investment program by investing in a brand-new property in Cyprus.

Cyprus provides a range of opulent homes for buyers seeking permanent residence. There is something to suit every taste and budget, from contemporary villas with private pools to apartments with breathtaking sea views. Cyprus also has a tax system that is advantageous and particularly appealing to wealthy people, making it a great place to invest in luxury real estate.

Foreign buyers of newly constructed homes in Cyprus are also entitled to a 5% VAT discount. This incentive is available for homes that will serve as the buyer's primary residence and can result in significant price reductions. Investors can make sure they are utilizing this incentive fully and maximizing their returns by working with a qualified VAT expert.

For foreign investors seeking permanent residency, purchasing a new property in Cyprus can provide a number of advantages. A high standard of living is offered, and it also promotes greater mobility within the European Union. Investors can travel to other EU nations without a visa by establishing permanent residency in Cyprus, making it a desirable choice for people who want to live in Europe.

Investors can benefit from the Cypriot government's investment program in addition to the advantageous tax system and high standard of living. Foreign investors may qualify to apply for citizenship through the program and permanent residency by making an investment in a new property in Cyprus. This can give investors more investment flexibility and security, as well as the chance to gain the advantages of being a citizen of Cyprus.

In conclusion, foreign investors seeking permanent residency may benefit greatly from purchasing a new property in Cyprus. Cyprus is a desirable option for those looking to make a long-term investment in the nation because of its advantageous tax structure, high standard of living, and selection of opulent properties. Investors can make sure they are taking full advantage of the incentives offered and making knowledgeable decisions about their investment by working with a qualified real estate agency. To find out more about purchasing luxury properties in Cyprus and obtaining permanent residency through investment, get in touch with Cyprino Real Estate.

Non-EU citizens who purchase property in Cyprus can benefit from a new and accelerated procedure for obtaining a Permanent Residence Permit. The parents (his and or her spouse) of Permanent Residency holders or future applicants can also apply for a permit. Given this new procedure and the savings of thousands of Euros due to the abolition of transfer fees, now is the best time to buy property in Cyprus.

Benefits of Cyprus Permanent Residence

  • Cyprus Residence Permit is permanent and no need for future reconsideration. It is a lifetime permit.
  • Cyprus Permanent Residence applies to the entire family (parents, children, grandparents).
  • Cyprus Permanent Residents have the right (under certain conditions) to apply for a Cypriot passport following their physical presence for a total of 5 years within a 7 year period.
  • Once the Cyprus Permanent Residence Permit is obtained the applicant and his family included in his Immigration permit will be entitled to apply for a Schengen Visa through any Schengen European Embassy. It is very important to note that Cyprus is expected to enter the Schengen Zone soon.
  • Cyprus has a relaxed, stress-free lifestyle with the lowest crime rate in Europe.
  • No Inheritance Tax applies in Cyprus.
  • Cyprus offers an ideal family environment, enabling your children to benefit from excellent schools and universities while healthcare and infrastructure are all state-of-the-art.
  • Cyprus is one of the most popular destinations for setting up companies with only a 12.5% corporate tax rate, and double taxation treaties with almost 60 countries.
  • Risk free Freehold property ensures permanent property rights




  1. Concerns NON EU citizens
  2. It is granted to the applicant and his spouse till the rest of their lives
  3. It is granted to their minor children till the age of 18 years old (in some exceptions till the age of 25 years old)
  4. Holders of this Permit are not entitled to work in Cyprus
  5. Holders of this Permit may own Cyprus Company and receive dividends from its profit
  6. Reasons for revocation of the Permanent Residence Permit:
  • When the holder of this Permit was granted a permanent Residence Permit in another Country (other than the country of his nationality)
  • When he did not visit Cyprus for a period longer than 2 years continuously


  1. Fast Track Procedure (Regulation 6(2)): within 2 months
  2. Category F (Regulation 5(f)): within 5- 12 months





  1. Must be purchased in Cyprus
  2. Purchasers could be just an applicant or just his spouse or the applicant and his spouse or a Cyprus Company as below described
  3. Vendor must just the Developer, who built this property
  4. Must be new (not resale)
  5. The Purchase Price must be at least 300,000 Euro (not including VAT)
  6. At least 200,000 Euro (not including VAT) should be paid to the Vendor
  7. Proofs of transfer of 200,000 Euro (not including VAT) from abroad must be provided
  8. Contract of Sale must be deposited at the Land Registry


  • House (or apartment) + house (or apartment)
  • House (or apartment) + shop up to 100 m2
  • House (or apartment) + office up to 250 m2


  1. The total purchase price is more than 300,000 euro (without VAT)
  2. Both properties must be new, resale is not accepted
  3. If two properties are separate they must be purchased from the same developer. It is not required when the properties are possible to unite in one because they are connected to each other vertically or horizontally


All conditions are valid for the couple. It will not be accepted purchase of more than two properties by the couple (including the purchase by the Company)


The property could be purchased in the name of the Company.


  1. The company must be registered in Cyprus
  2. The applicant or his spouse (or both) must be shareholders and his/their name/ names should appear in the certificate of the shareholders of the Company. The trust deed will not be accepted.
  3. They must be only shareholders of this Company


If the shareholder of this Company is another Company, it should be proved that the only shareholder of that Company is the applicant (his spouse or both)


It must be created a bank deposit of 30,000 Euro in a Cypriot Bank, blocked at least for 3 years. It must be proven that 30,000 Euro was transferred to Cyprus from abroad.


  1. Income must be created abroad, not in Cyprus
  2. The applicant should prove at least 30,000 Euro of income for himself and plus 5,000 Euro for each dependent on him family member
  3. It should derive from legal sources such as salary, rent, pension, interests, dividends, etc.


The holders of the Permanent residence permit must not work in Cyprus. Therefore, they should make Affidavits that they are not going to engage in any professional activity in Cyprus.

Income from dividends in a Cyprus Company of the applicants shall not be considered as a violation of the requirement of not engaging in any professional activity in Cyprus.


The applicant, his spouse, and children from 16 years old should have and provide a clean criminal record from the country of their origin. The period of validity of this document is three months.


All documents must be translated into English or Greek language by certified translator.

All official documents must be duly legalized by apostille. If the Country, which issued the official document is not a party on the Hague Convention of 5 October 1961, abolishing the requirement of legalization for foreign public documents, then the document must be legalized by the Ministry of Foreigner Affairs and the in the Cyprus Embassy of that Country.

Please note, that for Russian citizens apostille is not required.



It should be approved within 2 months and PR should be granted provided that:

  1. All requirements are satisfied
  2. There are no reasons of rejection due to their criminal records (after the research of the Ministry of Interior) or public order

Dependent Adult Children Aged 18- 25:

Application fast-track procedure (regulation 6) may be submitted by the adult child. He will get his permit till 25 years of age. After 25 he will have to make his own application for PR as an independent person.


  1. Age 18-25
  2. To be dependent on the parents
  3. To provide proof of their studies
  4. Parents must prove additional 5,000 euro of income for each dependent adult child
  5. Adult child provides all documents required in his case

Independent Adult Children:

  1. Age 18 and more
  2. To be independent of their parents
  3. The total purchase price of the property of their parents must be 300,000 Euro (without VAT) for each independent adult child
  4. It must be proved payment of 66% of the total purchase price of the property of their parents
  5. All other requirements (bank deposit, etc) must be completed



Upon the decision of the Minister of Interior of the Republic of Cyprus, dated on 7/05/2009, when a non-EU Member buys a PROPERTY – RESIDENCE for himself and his family of €300.000 and more, his application for Permanent Residence, Category F will be examined favorably.

This type of permit is granted to those NON-EU nationals, who possess and have fully and freely at their disposal a SECURED ANNUAL INCOME, high enough to give them a decent living in Cyprus, WITHOUT HAVING TO ENGAGE IN ANY BUSINESS, TRADE, OR PROFESSION. This income must come from legal sources from abroad. For example, it might come from pensions, permanent deposits, business activities, ownership of companies, shares etc.

According to the provisions of the Law, the MINIMUM annual income required is €9,568.17 for a single applicant and €4,613.22 for every dependent person, but the Civil Registry and Migration Department may demand ADDITIONAL AMOUNTS as necessary. These additional amounts might come from annual maintenance expenses of the property, educational, medical and other needs of the family in each particular case. It is always necessary to take in consideration ALL NEEDS OF THE FAMILY of the applicant and to offer solid evidence that the applicant is able to cover all those needs on the long run. He has to prove that the money he is getting from abroad will be enough to cover ALL EXPENSES of the family.

As Category F is the permit, granted once but for a permanent stay in Cyprus, the Immigration Authorities will examine the STABILITY and RELIABILITY of annual income over a long period of time. The possession of a solid amount of money, deposited in one of the banks of Cyprus might facilitate the application.

Basically, the most important requirements are:

  1. The applicant has enough money to cover all expenses of all members of his family
  2. This money come from abroad
  3. This money come from legal sources
  4. This income is securedreliable and consistent on a long run and this income will be maintained in time

If there is a reasonable doubt that the applicant or any of his dependents might become an UNREASONABLE BURDEN ON THE SOCIAL ASSISTANCE of the Republic of Cyprus his application will be rejected.


Those applicants, who do not comply with the strict requirements of Regulation 6(2) may apply for PR Permit under Category F.

For instance, if a family owns a property in Cyprus, the value of which is 100,000 Euro we would suggest to apply for permanent residence permit under Category F.