Benefits of EU Permanent Residency
- Permanent residency can be received in just 2 months and is valid for the whole family
- European Union citizenship
- Tax and financial planning as well as other proven financial services provided by professionals educated in compliance with the British Royal Standards
- No inheritance tax
- Low corporate tax
- Low property taxes
The experts in Liberty Group make sure that every application gone through them is carried out with the best expertise – quickly and professionally.
Shortened procedures based on regulation 6 (2) application
There are several requirements for foreigners to become citizens:
- Annual minimal income of 30,000 euro, that comes from businesses and sources located out of the EU. This requirement is raised by 5,000 euro for any additional person
- Possession of Title of ownership for property worth 300,000 euro with a signed proof of payment of at least 200,000 euro and submitted to the Department of Lands and Surveys.
- Contract with a local bank for at least 3 years and 30,000 deposit in the financial institution
- The required capital cited in paragraphs 1 and 3 must be transferred to the EU from a foreign account
- The applicants are required to request the Authorities in the country of origin to issue verification to a clean criminal record
- The candidate must ensure the Authorities that he won’t develop any business on EU soil
- The new citizen is required to visit the island at least once in 2 years
Every case stands for itself and is being examined thoroughly depending on its own specifics and merits.
Citizenship may be guaranteed to a married couple with children below the age of 18. However, some cases may include children over the specified age and grandparents in order to complete a family unification.
Permanent Residency based on Regulation 5 (F) Application
Everyone can apply for EU citizenship – the most important requirement is at least 300,000 euro real estate purchase or rent under the regulation 5 (F). The following criteria must also be met:
- Minimum secured annual income of 10,000 euro granted from foreign sources (it increases with additional 5,000 for another person)
- The candidate is not employed in the country
- Proves his income comes from legal activities or sources
- Adequate proof that the provided income is sufficient for a normal life for the family members
- Clean criminal dossier
- No charges of any kind had been filed against the applicant or any dependents
The minimal income requirement is significantly lowered under the application 5 (F) and represent one of the biggest benefits of it. Another advantage is the possibility that the applicant may only rent not purchase the real estate that is required by law.
Since all these requirements are met, the new citizen will be able to enter or leave Cyprus without any restrictions or other additional documentation.