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CYPRUS PRP.Cdr CYPRUS PERMANENT RESIDENCY CYPRUS Mediterranean destination at the Crossroads of Europe, Asia and Africa Official Name: Republic of Cyprus Member of: European Union Area: 9,251 km2 Population: 843,300 Currency: Euro Language: Greek & English International Airports: Paphos & Larnaca Annual Days of Sunshine: 340 Climate: mild winters - cool summers Religious Freedom: Christians and Muslims CYPRUS An island for all seasons and a million reasons Strategic location on the crossroads of 3 continents (Europe, Asia and Africa) Member of the EU and the Eurozone High level of services, including financial, medical, education, telecommunications etc Low taxes Ability to obtain permanent residency / citizenship for non EU citizens through purchase of real estate The recent natural gas discovery will be a game changer for the domestic economy and real estate values Mild climate and sunshine (320 days a year) Beautiful scenery and pristine beaches Caters to 3.2 mm tourists per year English language widely spoken Safe, secure and cosmopolitan environment High standard but low cost of living New Marinas, Golf courses and Casinos CYPRUS’ STRATEGIC GEOGRAPHIC LOCATION MONACO CRETE BEIRUT TEL AVIV CYPRUS IN FIGURES 1st Safest country in the World among small countries and 5th worldwide (2016) 1st Safest country in the world for young people (2017) 4th 4th (out of 144 countries) on higher education and training (2016) 5th 5th best relocation destination in the World (2016) 60 Double Taxation agreement with over 60 countries worldwide 63 Awarded with 63 Blue Flags for its beaches, most per Capita in the World (2018) 340 Cyprus enjoys 340 days of sunshine 2017 Pafos 2017 European Capital of Culture 3.6mm 3.6 million tourists visited Cyprus in 2017 TAX INCENTIVES 0 % Immovable Property Tax 0 % Inheritance, Wealth and Giſt Tax 0 % On dividend income for non-Cypriots 0 % On Widow's pension 0 % First €19.500 are exempt from personal income tax 0 % Instead of 8% property transfer fees are payable (if VAT was paid) 5 % on foreign pensions, exemption of €3.417 is granted 5 % A reduced VAT (5% from 19%) for main residence purchased Euros 12.5 % Corporate tax ,one of the lowest in Europe NON DOM Residence persons have high exemptions from many taxes and rates for their Cyprus and non-Cyprus income CYPRUS LIFESTYLE ● High quality cosmopolitan lifestyle ● Ιdeal for outdoor activities & sports ● Healthiest Mediterranean cuisine ● The island's life is full of Entertainment, Culture Events & Performances ● New Casinos, Marinas, Golf Courses and Spa Resorts ● Exclusive VIP vibrant nightlife ● Super luxury International restaurants ● Private jet and yachting services ● VIP shopping offering the latest in fashion trends and innovative designs ● Private tours to ancient landmarks and breathtaking landscape ● Best Mediterranean clear and clean sandy beaches and the richest nature WHY LEPTOS GROUP PROFILE The Leptos Group, one of the largest and most successful private groups in Cyprus and Greece, was founded by the Executive Chairman, Michael G. Leptos, a leading figure and an innovator in his field, in 1960 in Kyrenia relocating its headquarters to Paphos in the late 1970s. The Leptos Group is the Leading Group in Land and Building Development in Cyprus and the Greek Islands. Over the years it has successfully completed more than 350 unique projects with sophistication, quality and excellence in design. Leptos Calypso Hotels and Resorts, a member of the Group, is a public listed company that owns and operates Hotels and Resorts with over 3600 beds both in Cyprus and Greece. The Group, following an innovative path is also involved in the Education and Healthcare sectors with its own University, the Neapolis University Pafos, the first and only one in the region and Iasis Hospital which is considered to be amongst the best equipped and staffed hospitals in Cyprus. The Leptos Group with over 58 years of a success history has today an international network of private offices in the top global business cities and business associates in more than 75 countries all over the world. WHY LEPTOS GROUP PROFILE It has also an extensive land bank in prime locations both in Cyprus and Greece for the development of prestigious residential and holiday developments, luxury hotels and resorts as well as for the creation of mega projects which is considered to be the most ambitious construction challenge that has been taken on in the Mediterranean. In addition, the Group offers a fully comprehensive service to its customers and business associates. Highly qualified and experienced teams of specialists, amongst them architects, engineers, designers, sales and marketing executives, property and after sales managers together with qualified personnel are always on hand. The Leptos Group is committed to its outward-looking and innovative strategy and implements its investment planning with a view to adding value and creating new potential. At the Leptos Group we believe that the value of an enterprise is not measured by the returns of the day but by the legacy one leaves behind. LEPTOS ORGANISATIONAL CHART PERMANENT RESIDENCE PERMIT IN CYPRUS MEMBER OF THE EUROPEAN UNION TO APPLICANTS WHO ARE NON EU NATIONALS AND INVEST IN CYPRUS PROPERTIES LEGAL FRAMEWORK In pursuance of the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Cyprus Minister of Interior, having notified the Council of Ministers, has decided to issue an Immigration Permit to NON EU applicants, in cases where certain conditions are satisfied. PERMANENT RESIDENCE PERMIT IN CYPRUS MEMBER OF THE EUROPEAN UNION TO APPLICANTS WHO ARE NON EU NATIONALS AND INVEST IN CYPRUS PROPERTIES FOR THE ENTIRE FAMILY PROPERTY INVESTMENT VALID FOR LIFE PARENTS – CHILDREN – GRANDPARENTS ONLY 300,000 EUROS NO NEED FOR FUTURE RECONSIDERATION Cyprus Permanent Residence Permit covers the Guaranteed fast track straight-forward The Permanent Residence Permit is valid for Life. whole family including dependents and parents procedure. The property must be bought You need to visit Cyprus once every two years at of the applicant and his/her spouse from a licenced development company least for one day (First sale property) PERMANENT RESIDENCE PERMIT IN CYPRUS MEMBER OF THE EUROPEAN UNION TO APPLICANTS WHO ARE NON EU NATIONALS AND INVEST IN CYPRUS PROPERTIES VISA REQUIREMENTS SCHENGEN ZONE ELIGIBLE FOR CITIZENSHIP NO VISA NEEDED TO ENTER CYPRUS CYPRUS IS EXPECTED TO ENTER NATURALISATION BASED ON YEARS THE SCHENGEN ZONE SOON OF RESIDENCE The Cyprus Permanent Residency holder Cyprus along with Romania, Bulgaria and Croatia A Cyprus Permanent Resident has the right (under and his family are free to enter Cyprus are expected to join the Schengen area soon certain conditions) to apply for a Cypriot Citizenship without the need of obtaining a visa following their physical presence on the Island. (C.R.L. Article 111) PERMANENT RESIDENCE PERMIT IN CYPRUS IN ONLY 2 MONTHS WHO IS ELIGIBLE? “To applicants who are Non EU nationals and invest in Cyprus” The applicant should be an owner of a property (sold for the first time by a development company) in Cyprus, a house, an apartment or any other building, for a minimum value of €300.000 + VAT (if any). The immigration permit issued to an applicant covers his spouse and children under the age of 18. The said permit is also applicable for unmarried children aged 18 to 25 who may prove that they are students at a University and are financially dependent on the applicant. The said permit will be valid for life aſter the age of 25 without any other additional document. The parents of the main applicant and those of his spouse are also eligible to apply and obtain the Permanent Residence Permit by just showing an extra 8,000 euros each on the main applicant's income certificate. CYPRUS PERMANENT RESIDENCE PERMIT WITH THE PURCHASE OF A PROPERTY IMMIGRATION PERMIT REQUIRED DOCUMENTS / CERTIFICATES UNDER REG. 6(2) Copy of valid passport of the applicant and his dependants. The amounts paid for the property must be proven to have Curriculum Vitae. been transferred to Cyprus from abroad. Original Letter from a financial institution in Cyprus (Bank, Coop) of a deposit Official Statements by the applicant and his/her spouse that they of €30.000, pledged for three years, emanated from abroad. do not intent to undertake any sort of employment in Cyprus. Declaration of a secured annual income from abroad of €30.000 at least, Health Insurance Policy for the applicant and his/her dependants. (original documents and affidavit or declaration). Original Criminal Record Certificate duly certified for the applicant Title of ownership or contract of sale of property in Cyprus of a minimum and his/her spouse (if the applicant resides abroad, the certificate market value of €300.000 +vat if any (original or true copy). If the title of must be issued from his/her country of residence, and submitted with ownership has not been obtained yet, the applicant must submit the contract an official and certified translation). of sale duly stamped by the Stamps Commissioner and the Department of Marriage Certificate duly certified (official and certified translation). Lands & Surveys and proof of payment for at least €200.000 + vat if any. Children's Birth Certificates dully certified (official and certified translation). FAQ'S ON APPLYING FOR A CYPRUS PERMANENT RESIDENCE PERMIT LET'S BE CLEAR Is Cyprus a member of the European Union? Yes Cyprus is a full member since 2004. Is my PRP renewable every few months or years? No the PRP is granted for the life time. How can a PRP be revoked? If the applicant sells his/her property without replacing it with another of the same or bigger value or if the applicant fails to visit Cyprus once every two years. In the case of failing to visit Cyprus within 2 years, the investor has the right to re-apply and re-grant the Residency.
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