With a proven expertise and experience on the provisions of the relevant law, the Aliens and Immigration Law, Ch. 105, and Regulation 242/72 as amended by Law No. 22(1), the Department offers the highest quality of services to clients wishing to explore the possibilities offered by the relevant Laws and policies of the Government of the Republic of Cyprus in relation to immigration, visas, citizenship and residency.
Under the relevant law, “alien” means a person who is not a Cypriot citizen, as well as third-country national means any person who is not a European citizen. The competent authority, with which our Department works closely, is the Civil Registry and Migration Department in each district in Cyprus.
The Immigration Department of Fine Life Group provides expert advice and all necessary assistance on issues relating to citizenship, including acquisition of citizenship, determination of citizenship, naturalization, renunciation/deprivation of Cypriot citizenship. The Department is also responsible for obtaining on behalf of its clients long term residence and immigration permits as well as temporary residence permits for third country nationals.
The immigration department of Fine Life Group is responsible for the compilation of all necessary information and the submission of the application with the highest professional, ethical and business standards, while at the same time ensuring clients’ confidentiality and protection of personal data information, in accordance with the laws and regulations of the Republic of Cyprus and the European Union.
Realizing the importance of Cypriot/EU citizenship and Residency for our clients, our Department offers an insight into “the underwater stones of immigration”, with the aim of guaranteeing a full professional service from zero to completion, with the highest quality of expertise and experience in immigration services.
- Sales contract or rental agreement
- Bank statements with the amount of €30.000 (accounts in Cyprus and abroad)
- Bank guarantee €513 for 24 months
- Criminal Police Report
You can apply for a Temporary Residency Permit, with an Employment Status, through a Cyprus or an Offshore Company, where you may have a Bank account with the amount of at least €41.006 and turnover with the amount of at least €170.860. In case, where the percentage of the foreign participation in the share capital of a company is equal or below the fifty percent (50%) of the total share capital, this percentage should present an amount equal or higher than €170.860 in order for the company to be considered eligible.
- Category A:
Persons who intend to work as self employed in agriculture, cattle breeding, bird breeding or fish culture in the Republic, provided that they have in their possession adequate land or a permit to acquire same, they have fully and freely at their disposal capital of approximately €430,000 (CY£250,000) and such an employment should not negatively affect the general economy of the Republic.
- Category B:
Persons who intend to work as self employed in mining enterprises in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €350,000 (CY£200,000) and such an employment should not negatively affect the general economy of the Republic.
- Category C:
Persons who intend to work as self employed in a trade or profession in the Republic, provided that they have in their possession a relative permit, they have fully and freely at their disposal capital of approximately €260,000 (CY£150,000) and such an employment should not affect negatively the general economy of the Republic.
- Category D:
Persons who intend to work as self employed in a profession or science in the Republic, provided that they have academic or professional qualifications, for which there is demand in Cyprus. Possession of adequate funds is also necessary.
- Category E:
Persons who have been offered permanent employment in the Republic, which will not create undue local competition.
Very important to present for this category among with the rest documents required are: temporary residence permit, Sale/Purchase Agreement or Title Deed for your immovable property in Cyprus and Contract of employment.
- Category F
As regards the accelerated procedures for granting immigration permits to third country nationals who intent to invest in the Republic of Cyprus, our Immigration Department offers a unique service in accordance with the procedures envisaged by the Ministry of Interior which is the responsible authority for issuing such permits. In relation to the new and accelerated procedure for granting immigration permit to applicants who are third country nationals and intent to invest in Cyprus, and in accordance with the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the criterias that need to be fulfilled for such permit are the following:
(a) The applicant must prove that he/she has at his disposal a secured minimum annual income of no less than €30.000, from sources other than employment in Cyprus. The required income of €30.000 could derive from salaries of employment abroad and not in Cyprus, pensions, stock shares, rents, etc. The necessary minimum annual income is increased by €5.000 for each dependent person.
(b) The applicant must submit the application form accompanied with a Title of ownership or contract of sale, of a property in Cyprus, a house, apartment or other building, of a minimum market value of €300.000 and proof of payment for at least €200,000. The contract of sale should already have been submitted to the Department of Lands and Surveys.
(c) The applicant must submit a confirmation letter from a Cypriot Bank stating that he has deposited a minimum capital of €30.000 in an account, which will be pledged at least for a three year period.
(d) The applicant must submit a Criminal Record Certificate (if the applicant resides abroad), which must be issued by the Authorities in his country of origin, and he should not constitute in general any threat against public order or security in Cyprus.
(e) The applicant should submit a Statement that he does not intent to work or be engaged in any form of business in Cyprus, since ‘F Category’ in permanent residency with non-employment status.
(f) The applicants should visit Cyprus at least once every two years.
Even if you have applied for Permanent Residency, you have no right to exceed 90 days, unless you apply for Temporary Residency, while Permanent is in process of examination.
- Acquisition of Citizenship by Investments
According to the Decision of the Council of Ministers dated 24.05.2013, non-Cypriot citizens will be eligible to obtain a Cypriot citizenship, if one of the following criterias is met:
A.1. Combination of investments and donation to a government fund (2 million Euros on purchase of Shares of the National Investment Company and 0.5 million Euros donation at the Research and Technology Fund)
A.2. Direct Investments in Cyprus totalling 5 million Euros via immovable properties (residential/commercial), Cyprus companies’ Shares or other financial assets or a public project.
A.3. Bank Deposits: The applicant must have deposits in Cyprus banks amounting to 5 million Euros, for a period of 3 years. The deposits can be personal or corporate or of a trust whereby the applicant is the beneficiary. The aforementioned applies only to Cypriot banks which are licensed to operate in Cyprus and also to daughter foreign banks.
A.4. Combination of Mixed Investments and Donation to the National Fund (A1), Direct Investments (A2) and Deposits to Cypriot banks (A3): The applicant must have a combination of the above amounting to 5 million Euros.
A.5. Business Activities: The applicant must be the shareholder or the final beneficiary of a company (or companies) that has been set up and is operating in Cyprus. In addition, the Company must have paid to the Government of Cyprus an amount of at least 500.000 Euros annually during the last 3 years (before the application has been made). The amount includes corporate tax, VAT and the use of professional services like legal, accounting and audit.
Or 5 Cypriot citizens and 350.000 Euros paid annually or employ 10 Cypriot citizens with 200.000 Euros for the last 3 years, before the application has been made. One or 2 majior shareholders are eligible file applications for naturalization.
A.6. Persons whose deposits in Bank of Cyprus or in Laiki Bank have been impaired due to measures implemented in both Banks after March 15, 2013(up to 3 million Euros or above): If it is below 3 million, you can sum up 3 million adding the missing amount by A1 and A2 investments.
Our company offers individual approach to each client and criterias may be customized with the permission of relevant authorities.
- Acquisition of Citizenship as a Spouse of a Cypriot Citizen
With reference to the acquisition of Citizenship as a Spouse of a Cypriot citizen , an application can be submitted by foreign spouses of Cypriot nationals, who have completed three years of marriage and two years of residence in the Republic prior to the date of application. These applications must additionally be accompanied by a letter from the couple stating the reasons for requesting the grant of the Cypriot citizenship to the foreign spouse. If the couple has completed at least five years of marriage and has at least one child, it is not necessary to attach the aforementioned letter.
Among a standard list of documents, very important are:
· Statement of harmonious cohabitation signed before an Officer of the District Administration Office or the diplomatic authority
· Statement of cohabitation from the local authority
- Acquisition of Citizenship by Naturalisation
In order to be able to apply for Cyprus citizenship through naturalization, an EU citizen or third country national must have resided for a minimum 7 years legally in Cyprus, of which the year preceding the date of application should be full and uninterrupted.
To be entitled to apply for naturalization and become a Cypriot citizen an alien should have held Permanent Resident status and resided in Cyprus for at least 7 years out of the previous 8 years prior to his/her application. The applicant must have been resident in Cyprus or been in the Cyprus public services (or a combination of the two) for periods amount to not less than 4 years / in the case of an applicant having been residing in Cyprus due to employment he/she must have spent at least 6 years of the preceding 7 year period in Cyprus. He/she should submit all documentary evidence as required and demonstrate a basic knowledge of Greek at the interview. According to section 111 of the Law, the Minister of the Interior can grant a certificate of naturalization to any foreigner who satisfies the Minister that he or she qualifies for naturalization under the provisions of the third schedule of the law. It should be noted however that during the final year prior to the citizenship application an alien is permitted to be out of the country for not more than 2 weeks.
The procedure to finalize the review for an application of naturalization could take approximately 1.5 to 3 years.
Immigration Investment Packages
- Find and choose the property, that matches your budget and criterias, so we will form tailor made package.
- Register your asset:
a) Due diligence (Type of property / All relevant searches).
b) Search as to whether the price agreed to buy is right by Employing an valuator.
c) Appoint a civil engineer to check the terms of the Building Permit and how they may affect the transaction, the plans or and technical specifications, the size of the plot on which the house was built or is to be built and the house/apt before delivery of possession so as to report to us whether the Vendor complied with the contract.
d) Register the asset via local company or on your Personal name.
e) Apply on your behalf to the Authorities for permit to buy property for non EU (if not personal).
f) VAT refund of 13% out of 18% (if the property is new).
g) Open a local bank account.
h) Preparing/drafting/ negotiating the contract stipulating the mode of payment and collecting all the annexes.
i) Lodging of the contract in Land Registry Office.
j) Transferring the Title Deeds to your name or to the company of yours(if available).
k) Paying all the relevant taxes on your behalf.
l) Act of delivery.
m) Utility bills and standing orders.
n) Accounting, Audit, Administration and full banking Facilities with monthly reports, if the commercial property is registered via company.
o) Maintenance of the asset with monthly reports and photos.
If the property is commercial, then we will provide full legal support, that includes the incorporation of a Cyprus company, that will own the asset, the Shareholder(s) will receive shares as per their investment and rental income that will be taxed at the rate of 10% and afterwards will be paid as dividends that will be tax free for foreign tax residents .
In the packages, that we offer, the Sellers of the assets provide a bank guarantee of an international bank that guarantees rental income from 5 to 10 years with the minimum of 3% rental income a year from the investment amount.
Each asset we have in our packages has a recent independent evaluation, legal paperwork and they are considered as good opportunities due to recent crisis.
Both Permanent Residency and Citizenship by Investment require an investment to be held on the name of the applicant or the company for no less than 3 years. That means, that the bank guarantee’s validity exceeds required period of 3 years and if the investor sells it in 3 -5 years we anticipate, that the prices will be the double or higher, due to gas and oil industry development in the Republic of Cyprus.
If the property is commercial, we can register your new asset via Cyprus Company that is eligible to receive rental income for non- European citizens.
- Local company will also reduce the capital gains tax from 35% individual to 10% corporate.
- Acquire confidentiality
- Economy on Title Deed Transfer(The tax is from 3-8%, depending on the price of the property)
*In order to find out more details regarding the criteria of citizenship, please have a look to the subcategory, ‘Citizenship by investments’. You will realise, that it may be less than €5.000.000, if other criteria(s) are met.
Examples of investments:
- Citizenship packages
– Investment: 20.000.000 million Euros
-Investors: 4 x 5.000.000 million Euros each
– Return on Investment: 5% per annum
- Permanent Residency packages
– Investment: 3.000.000 Euros
-Investors: 10x 300.000 Euros each
– Return on Investment: 5% per annum
Both packages being customized include citizenship or permanent residency applications and legal support by our Law Firm on behalf of our clients-investors.