CYPRUS | REAL ESTATE

PERMANENT RESIDENCY & CITIZENSHIP

ABOUT CYPRUS

The beautiful island of Cyprus has gained popularity as an expat destination with people from all over the globe.

Cyprus is home to beaches that stretch on for miles, ruins you can wander through, delicious foods and famous wine. Cyprus has a vast amount of history despite it’s small size.

Tax Breaks and Incentives to Home Buyers – The real draw for a number of international luxury home owners is the array of incentives they get from the government, including tax breaks, title deeds at half the price and the opportunity to get an EU Passport.

Foreigners can easily purchase a house or buy land and build a home in this country by contacting Gaylin Estates to get started.
The price of real estate is quite reasonable compared to the US, UK and many other nations with prices ranging from €90,000.

Other very attractive qualities which seam to be a hit with South Africans: Ample sunshine and warm temperatures, Summers last for a minimum of 7 months, starting in early April and lasting until the end of October. The average daytime temperature is around 32ᵒ C during these months and goes up to 40ᵒ C or more inland.

Low Crime Rates; it remains one of the safest European countries to live in.

A number of British expats who have been living on the Mediterranean island for years claim that Cyprus’ safety and security levels are much higher than the UK. Great for families.

This island is a great place to raise children. Children play outdoors as the overall environment all over the country is generally safe and secure.

Healthcare Standards; The healthcare system in the North and South of Cyprus is on par with international standards. Like in most other places, expats can choose between public and private healthcare.

Excellent Quality of Life. Most expats enjoy a higher standard of life as residents of this island since they have a better climate, better healthcare and safety and higher purchasing power than the global average.

English Speaking; 90% of the local population speak fluent English), proximity to other countries and the country’s natural beauty.

If you are interested finding out more about Cyprus residency and citizenship, please submit your details on the form below and we will send you additional information.

CYPRUS PERMANENT RESIDENCY

• Non European Citizens who are buying property for residency at a value of minimum €300,000 + vat are entitled to residency.
• No need to reside in Cyprus.
• Fast process (only two months).
• Language examination is not required.
• Ability to reside in Cyprus with no limitation.
• Free education for children.
• Ability to establish a business.
• The right to request citizenship in due time.
• The Residency is applicable to you, your spouse, children and grandparents.

REQUIREMENTS

• To prove that they have a guaranteed annual income of €30,000 which are not from employment in Cyprus but rather from other sources.
• To provide a letter from a bank in Cyprus confirming that they have deposited a minimum amount of €30,000 that will be secured for a period of at least three years.
• The candidate must submit that he/she don’t have any criminal record.
• Declare that he/she is not planning to work or be employed in Cyprus.

BENEFITS OF BEING A CYPRIOT CITIZEN

• Cypriot citizens enjoy the freedom to live, work and visit any place in the European Union and Switzerland.
• Cyprus is a member of the European community which emphasises human rights and personal freedom.
• It is possible to become a Cypriot Citizen within a period of 5 months from submitting your application.
• Investors enjoy the benefits, as does the spouse and dependent children up to the age of 28, given that they are studying.
• Your original status is not affected by acquiring the new Cypriot status. • There is no inheritance tax in Cyprus.
• 169 countries may be visited by Cypriots without the need of obtaining a visa.
• Enable business access to 500 million people within the Continental Region.

REQUIREMENTS

Option 1:

Purchase property (multiple or single properties) for a value of Euro 2M +VAT. Of such amount, a residential property purchased for at least Euro 500,000 +VAT must be earmarked and kept as prime residence. The balance of Euro 1.5M + VAT will be invested in other properties which the investor applicant must retain for 5 years. During those 5 years, the investor may let the properties if he/she so wishes. After such time, the said properties (other than the prime residential property) may be sold.

Option 2:

Purchase a single property for Euro 2M +VAT. Must be maintained indefinitely.

• A mandatory donation of € 75,000 to the Foundation for Research and Innovation to promote the creation of an entrepreneurial innovation ecosystem.
• A mandatory donation of € 75,000 to the Cyprus Land Development Corporation, aiming at the contribution to the integrated housing policy, specifically for the purpose of implementing affordable housing projects and the implementation of other housing plans / measures.
• The inclusion of investments in the shipping sector in the eligible investments, on the basis of specific measurable criteria as well as in registered Alternative Investment Funds in the eligible investments,
• The applicant must have a Schengen visa in order to be able to apply for naturalization and a clean criminal record.

CONTACT ME TODAY

Edgar Blomeyer
Office: 011 268 8000
Mobile: 0837003343
Email: edgar@gaylin.co.za