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Cyprus Investment Program

Specific Analysis for the Provision of Legal Services for the handling of Conveyancing, Investment, Citizenship and Permanent Residency Acquisition

In order to meet the needs of its Clients, the Firm has set up an efficient and dedicated Conveyancing, Investment, Citizenship & Permanent Residency Acquisition Team. The lawyers involved have the experience which provides the capacity, the knowledge and the skills necessary to provide prompt and fulfilling results.

Our Services cover everything, including:

  1. Draft of Legal Documents i.e Contracts of Sale, Agreements.
  2. Legal Consultation on any matter.
  3. Proven ability to proactively solve legal issues prior to reaching the litigation stage.
  4. Court Proceedings.
  5. Court Representation.
  6. Enforcement of Judgment procedures.
  7. Investment Schemes Proceedings.
  8. Issuance of Immigration Permits for third country applicants in pursuance of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations.
  9. Issuance of Immigration Permits for third country applicants in pursuance of the provisions of Regulation 5, Category F of the Aliens and Immigration Regulations

It is important to us not to just work for the client but work with the client. In this way the client becomes part of the process. Our professional staff will keep you informed every step of the way through any of the above matters and suggest a variety of suitable options to tackle it.

We have the capacity and the capability to arrange personal and/or video conferences in order to provide analysis of our Client’s ongoing matters. We of course encourage our Clients to arrange and attend such meetings.

Our Team is always ready to provide the Clients with any updates instantly. Email, telephone calls and any other forms of communication are of course dealt with and answered within the day.

The Firm’s structure allows it to deal with a great workload and leave each client satisfied. The division of the Firm into collaborative teams splits the workload and with a proper supervision of the Firm’s Head Partner and the teams’ leaders, every single client is dealt with priority. New Clients will enjoy the dedication of our Team.

With the appointment of our Firm as the Client’s legal representatives, our Team will arrange an introductory meeting with the Client and set up a working scheme based on the Client’s needs and requests. This working scheme will be the basis of our cooperation and will of course be subject to modifications depending on the caseload, the Client’s instructions and our remarks and recommendations.

A. Specific Analysis for Issuance of Immigration Permits for third country applicants in pursuance of the provisions of Regulation 5, Category F of the Aliens and Immigration Regulations
  • After the working scheme is set, for instance, our Team will get to work. The Client will be informed of the details and demands of this Category.
  • For Category F instance Issuance of Immigration Permits eligible are Persons 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.
  • The annual income required should be at least €9,568.17 for a single applicant and moreover at least €4,613.22 for every dependent person, but the Immigration Control Board may demand additional amounts as necessary.
  • Most applicants come under this Category, the majority of them being pensioners or retired persons.
  • For the granting of an Immigration Permit, an application is submitted on the form M.67 to the Civil Registry and Migration Department directly or through the District Aliens and Immigration Branches of the Police.
  • The application should be accompanied by the appropriate documents, depending on the Category for which it is submitted. Our legal team will carefully fill this application out in cooperation with our Client.
  • Applications for Category F which are the most usual should be accompanied by the original of documents regarding the income of the applicants.
  • The applications are examined by the Immigration Control Committee which submits a relevant suggestion to the Minister of the Interior for a decision to be taken.
  • An Immigration Permit will be automatically cancelled if the interested person fails to acquire residence in Cyprus within one year from the approval of the application, in case he/she is residing outside Cyprus. It will also be cancelled if he/she acquires permanent residence abroad or be absent from Cyprus for a period of two years.
  • All these information will be analytically explained to our Client ready to respond to any queries.
B. Specific Analysis for Issuance of Immigration Permits for third country applicants in pursuance of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations.

In this case, our Team will explain in detail the financial criteria to the Client and help him/her to proceed with the application. The 6(2) Regulation revolves around the following criteria.

  • The applicant should submit a confirmation letter from a financial institution in Cyprus that he/she has deposited a minimum capital of €30.000 into an account, which will be pledged for a period of at least three years.
  • It must be proved that the said amount has been transferred to Cyprus from abroad.
  • The applicant should prove that he/she has at his/her disposal a secure annual income of at least €30.000. This annual income should increase by €5.000 for every dependent person of his/her family (spouse and children) and by €8.000 for every dependent parent or parent-in-law.
  • This income should derive from abroad, and may include salaries from employment, pensions, dividends from shares, fixed deposits, rents a.s.o. For the calculation of the total amount of the annual income, the spouse’s income may be also taken into consideration.
  • The applicant should submit, together with the application, title deeds or a sale contract in his/her name and/or his/her spouse, which has been officially filed at the Department of Lands and Surveys, of a real estate, of total market value of at least €300.000 (V.A.T. is not included therein) and official payment receipts of at least €200.000 (excluding V.A.T.), irrespective of the delivery date of the real estate. It should be stressed that the full payment of the real estate value shall be settled in an account in a financial institution in Cyprus.
  • The abovementioned amounts must be proven to have been transferred to Cyprus from abroad.
  • It is noted that the real estate purchase may be accepted even when made in the name of a legal entity, provided that the applicant and/or his/her spouse are the sole shareholders or the ultimate beneficial owners of it, and that this legal entity is legally established in the Republic or other member state of the European Union or European Economic Area.
  • For the purpose of implementing this policy, the applicant may purchase up to two housing units (apartments or houses), which can be independent, but be purchased from the same development company, or one housing unit and a shop of a surface of up to 100 sq.m., or a housing unit and an office of a surface of up to 250 sq.m., provided that the total market value satisfies the conditions above.
  • In the case of a couple, these restrictions apply for the couple and not for each of the persons involved.