The Cyprus Ministry of Interior has announced improved criteria for rapid migration authorization procedure and this will increase buying interest from foreign investors in the Cyprus real estate market.
Specifically the two main revisions affect the applicant’s dependent parents and the applicant’s dependent children who finish their school or university education. Now the dependent parents can be included in the application for an additional annual income of the applicant. Additionally the applicant’s children that study in Cyprus, after completing their studies can apply for separate renewal of their residence permit, without any age limitations, with the only new criteria for the applicant increase the annual minimum income guarantee deriving from abroad.
The revised criteria for the Cyprus Permanent Residency Programme make it as one of the most attractive and competitive real estate investment programmes in Europe. The new revisions to the Permanent Residency Programme are in effect as of the 22nd February 2016.
If you are interested in finding out more about the requirements and the benefits of the Cyprus Residency Program you can visit this page or arrange a meeting to speak to an advisor of Denizen Cyprus.
