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cyprus-Residency-bannerCYPRUS Immigration Permit – Costs

  1. Cost Structure

  • Entry VISA
    • The applicant may need a visa to enter Cyprus for the inspection trip or to record
    • their biometric data. The applicant can choose to apply for a business/travel
    • visa or a multiple entry Schengen visa to enter Cyprus.
  • INVESTMENT
    • The investment amount will be no less than €300,000.
  • ATTORNEY & IMMIGRATION
    • The example for the attorney and the immigration costs will be given based
    • on a family with one minor child.
  1. Real Estate Investment

  • INVESTMENT COSTS
    • €300,000
    • VAT: 5% – 19%
    • Note: Upon purchase of the first residential property the applicant is tax liable for 5% on the first 200sqm however if the applicant purchases a bigger property then the applicant will pay 19% on the remaining space per square meter.
    • If the applicant purchases multiple properties, if the first property is less than 200sqm the applicant will only be liable for 5% VAT, on 2nd or 3rd properties the VAT will be taxed at 19% VAT.
    • Example: a piece of real estate, worth €300,000 (market price), under 200 square meters, the total amount of VAT (5%) will be € 15,000.
  • Stamp duty :
    • 0.15% to 0.20% of the purchase price for the real estate
  • Registration fees to local authority:
    • € 50.00 per property
  • Other Applicable Costs:
    • € 100 approximately
  1. Attorney & Immigration Costs

  • ATTORNEY & IMMIGRATION COSTS
    • Attorney costs:
      • 1% of the Purchase Price of the real estate + 19% VAT of said costs
    • Immigration costs:
      • Application for Immigration Permit: € 500 per family (applicant + Spouse + Minor),
        • € 500 more per additional dependents
    • Alien registration certificate: € 70 per applicant
    • Health Insurance: € 170 per applicant (depending on the insurance policies)
    • Fixed Deposit: € 30,000, pledged for a minimum of three years

Disclaimer: The communication herein is intended to convey general information only and not to provide legal advice or opinions. It should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The facts stated may not reflect the most current legal developments. No action should be taken in reliance on the information herein. Qualified legal practitioners should be contacted for professional legal advice on specific issues.

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