The Cypriot government has set a number of legislations to encourage businessmen to invest in Cyprus through purchasing a property. Buy a property and receive an immediate and unconditional permanent residency and be eligible for a citizenship of the European Union - Cyprus after 5 to 6 years.
According to Regulation 4 of the Aliens and Immigration Regulations, Cap.105, the Commission on Control of Immigration examines appliances for concession of certain applications with a report being sent to the Ministry of Internal Affairs who is responsible for granting the relevant authorizations. An alien can only have his Immigration Permit granted if and only if the application raises one of the six categories under Regulation 5 [Category F only relevant for this Memo].
An immigration permit that is granted in relation to Category F is equivalent to an approval for permanent residence in Cyprus and provides the holders of such a permit the ability to be excluded from any time-consuming migratory formalities that the other Categories may place on third-country nationals.
According to Regulation 8 of the Aliens and Immigration Regulations, Cap.105, dependants of the Immigration Permit Applicant are also considered as permanent residences in Cyprus. Dependants include children under the age of 18 and/or the applicant's wife.
Category F relates to people that are third-country nationals which will not be working in Cyprus. A further requirement that is essential for the approval of an Immigration Permit by the Minister of Internal Affairs is that third-country nationals must purchase a house holder residence for ownership-occupancy in Cyprus worth €300,000 or more.
Within four months from the date of applying for a permanent residency, the applicant will receive an approval and will be eligible for citizenship after 5 to 6 years.
On this basis, Eagle Estate has signed an exclusive cooperation agreements with "Pennaf Premier Cyprus" a Cypriot real estate operator / developer, Pelecanos and Pelecanos law firm, Credit Agricole Bank and Emporiki Bank to promote this opportunity. It is worth mentioning that "Pennaf Premier Cyprus" is one of the real estate companies that have remarkable presence in the real estate market in Cyprus. Eagle Estate will provide its customers with this service through a "One Stop Shop" that covers all needed financial, legal and real estate consultancy at competitive prices in the coastal areas of Cyprus, by offering investment in chalets and villas while realising the permanent residency in Cyprus.
Zephyr
- Just 30 meters from the best sandy beach and tourist areas
- 2 and 3-bedroom apartments on the 1st and 2nd floors, ranging in size from 105 to 165 square meters
- The complex’s facilities include full security system, parking, roof garden, outdoor spa with Jacuzzi, a BBQ area and dining and bar facility in the ground floor coffee shop.
Seaside Resorts (Paralimni Beach)
- Swimming Pool, A/C, Land Spacing, all white goods
- Fully furnished with uninterrupted sea views
- Private car park for each Villa
- Average Coverd Area- 128 Spm, Uncovered Aera - 14 Sqm
- Plot 270 sqm to 460 Sqm
- Bank finance available
Royal Haven
- Just 100 meters from the Limassol beachfront
- 3 to 5 bedroom villas
- From 171 to 400 square meters of covered area
- Landscaped gardens and private swimming pools