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How to obtain Cyprus residency

Posted by gabrielfulton in Business on April 21st, 2018

Many people want to move to Cyprus due to the warm climate and geographical position. They obtain several benefits from Cyprus residency, especially since the country welcomes new residents. However, there are certain criteria that must be fulfilled, based on the type of Cyprus citizenship desired. Handling the entire process on your own is not easy, but there are attorneys that have the needed skills and experience.

First, it is good to know a few aspects regarding Cyprus residency and why it is worth it after all. The application procedure does not take too long, if everything is filled correctly, within two months you will get a response. The approval rate is quite high, especially is all terms are satisfied. Individuals are not required to move in the country; they simply need to visit it once every two years. This is especially useful for those who work abroad or those who want to have a home to visit whenever they feel like it. The entire family will then have rights and dependents can benefit from high education, enrolling in private schools and learning English. This is because once a family member has residency, the spouse and children under 18 years old will have it as well. If children are aged above 18, they are eligible to apply.

There is no need to be present in the country to make the necessary arrangements, but a visit is mandatory for biometric capturing. The country is more than willing to increase foreign investment and this is why they have several solutions for non-European countries, including Cyprus citizenship by investment. One option is to acquire a property that has a value of at least 300.000 EUR. Applicants have to submit the application along with the sale contract and the payment proof. Properties can be bought by companies as well, with the specification that the company is registered in the applicant’s name or his/her spouse, being the only shareholders.

Another requirement is the confirmation letter from a Cyprus bank that confirms the deposit of minimum 30.000 EUR into a locked account. For a period of three years, the money is locked, but after the period expiration, the sum will be released without any issues. From the country they live, applications have to prove their annual income is at least 30.000 EUR. The income does not have to refer only to salaries, but also share dividends, pensions or rates. Additional fees exist, for the submission of the application and for biometric capturing. The Civil Registry and Migration Department will examine the application and then submitted to the Ministry of Interior. The decision is given within two months and once approved; the family needs to visit Cyprus in one year to get the permit. Afterwards, they have the possibility to decide what they are going to do next and how long they want to stay in the country.

There are people unable to take care of applications and forms on their own. Perhaps they do not have the needed time or means, but their desire is to move to Cyprus or have residency here. In this case, they can get in touch with a law firm that specializes in this area of practice. There are attorneys that know everything about the country’s legislation and requirements and can assist applicants at every step. They will advise which option suits them better, how to fulfil criteria, what proof is needed and will make sure that forms reach the right destination. Not to mention that lawyers will always inform applicants on how things are going, announce results and more.

Nothing compares with having a specialist by your side, someone you can trust with such an important subject. The process itself does not take long to finalize, but having paperwork in order is crucial. Instead of looking around online or asking around people what it takes to become a Cyprus citizen, you can discuss with experts from the start. The fees paid are worth it when you think of the time and effort saved. Attorneys will take many matters in their own hands and they will interfere when needed. They will inform you upon the progress of the application and if there is something else that has to be done.

Do you want to obtain Cyprus citizenship? It might seem like a complicated process at first, but the good news is that this law firm can help you with everything needed for Cyprus residency. Get in touch and find out everything there is about requirements and application.


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