The Cyprus permanent residency by investment programme has become increasingly popular for non-EU individuals seeking permanent residency in an EU-member state. It boasts one of the easiest and fastest immigration services into Europe, where most cases are completed within a period of 60 to 120 days. While Malta has its own attractive investment scheme, let’s now compare it with Cyprus, highlighting the key differences and similarities that may be valuable for potential investors to consider.
A comparison of the Cyprus Residency Scheme and the Maltese Citizenship by Investment Program::
| Cyprus PR | Malta PR |
| Purchase of a house or apartment from a development company worth at least €300,000 (plus VAT) OR Purchase of other types of real estate such as offices, shops, hotels or related estate developments, or a combination thereof, with a total value of €300,000. | Purchase a property for a minimum value of €300,000 in the South of Malta/Gozo or €350,000 in the rest of Malta. |
| Evidence must be provided that the investment money has derived from abroad. | Be in receipt of stable and regular financial resources, sufficient to maintain themselves and their dependants, without recourse to the social assistance system of Malta. |
| The applicant should prove that he/she has at his/her disposal a personal secure annual income of at least €50,000. This annual income increases by €15,000 for his/her spouse and by €10,000 for each of his/her or his/her spouse’s dependent minor child. | Show they have capital assets of not less than €500,000, out of which a minimum of €150,000 must be financial assets. |
| The applicant and his/her spouse must provide a clean criminal record certificate and generally, they should not be pose a threat in any way to public order or public security in Cyprus. | Be fit-and-proper individuals and have a clean criminal record. |
| A fee of €500 is charged upon application submission, as well as a fee of €70 for each person included in the application for issuing the Alien Registration Certificate (ARC), where it does not already exist. | Pay a non-refundable administrative fee of €40,000. |
| Covers spouse and children under the age of 18, and between the age of 18 and 25 for children, who have proved that they are students. | Not pose any potential threat to the national security, public policy, public health or public interest. |
| Cyprus Permanent Residency Permit holders are beneficiaries of General Healthcare System. | Take out a sickness insurance policy of cover all risks across Malta. |
| The residence right of such permits is of unlimited validity, for the holder and his/her adult dependents. | Pay €7,500 for each additional parent or grandparent of the Main Applicant and/or spouse who is principally dependent on the Main Applicant. |
| The estimated examination period for the application, starting from the submission date of the completed application, is approximately two (2) months. | The processing time is typically around three to six months. |
| An Immigration Permit shall cease to be valid if the interested person and his/her dependents acquire permanent residence abroad or be absent from Cyprus for a period of two years. | Not benefit under other pertinent regulations and schemes. |
| Hold the qualifying property for a minimum period of 5 years after which a residential address is required. | |
| Make a donation of €2,000 to a local philanthropic, cultural, scientific, artistic, sport or animal welfare NGO registered with the Commissioner of Voluntary Organisations. | |
| Pay a Government contribution of €28,000 if purchasing a property or €58,000 if leasing a property. |
Benefits Of The Cyprus Permanent Residency:
- Granted 2-4 months
- Property Investment €300,000 + VAT
- Covers the spouse and dependent children
- No language criteria
- Valid for life
- Easy Access within the EU
- Visit Cyprus Every 2 years
- All nationalities are eligible
Your 6 step process to Cyprus Permanent Residency:
- Select Real Estate Investment
- Investor selects property/ies either by visiting Cyprus or through correspondence to an Aristo Developers representative.
- The minimum investment should be €300,000 + VAT.
- Payment
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- Purchase Agreement signed.
- Minimum requirement of €300,000 + VAT as initial payment.
- Permanent Residency fee €500 per application.
- Document Submission
- Required residency documents need to be prepared and submitted to the Civil Registry and the Migration Department, or to the District Offices.
- Issue of Permanent Residency
- Residency Permit is issued within 2-4 months.
- Residency Permit and ID Cards
- Upon approval, the applicant is required to visit Cyprus within one year to obtain the actual permit and digital ID cards.
- Visit Cyprus every 2 years
- The applicant and his/her dependents must visit Cyprus at least once every two (2) years.
Invest with Aristo Developers and Acquire Cyprus Permanent Residency in an EU Member State.
