Real Estate Investor Magazine South Africa March 2016 | Page 59

TRACK permanent residency programme – making
this the quickest, most inexpensive & most attractive
residency programme in the EU.
1. Parents & parents-in-law of the main applicant
also qualify on same residency application! So
there is no need for each parent to purchase their
own property to secure permanent residency.
2. All dependent children will retain their
residency permits for life, without the need to
submit any other supporting documentation!
3. Dependents of a residency permit holder can
study in Cyprus on a temporary student visa
for the whole duration of their studies and after
graduation will secure their residency permits
regardless of their age.
4. In the case of the main applicant’s death, if the
contract was solely in his/her name then the
spouse and descendants can continue to retain
their residency permits without the need of any
other criteria. The old regulation required the
spouse and dependents to reapply once they had
shown property ownership.
Cyprus’ FAST TRACK residency programme
currently has the following 8 benefits and predominant
differentiators to the EU residency programmes on
offer in Greece, Malta, Portugal & Spain:
1. It is the most affordable residency programme in
Europe
2. €300k investment in a new residential property
secures permanent residency permits for the whole
family; and
3. only 2/3 of the purchase price needs to be paid
upfront before the application process can begin (all
other countries require full payment to be made)
4. Dependent children up to the age of 25* qualify.
5. The residency permits are FOR LIFE - they
automatically renew every year.
6. It only takes 4 – 6 weeks for the residency permits to
be processed and approved.
7. No need to stay/live in Cyprus: except for 1 day
every 2 years - so you can continue to live & work
in South Africa while retaining your EU residency
status.
8. No minimum annual tax levied for your residency
permit to remain valid; and Cyprus’ personal &
corporate tax rates are the lowest in Europe.
9. No inheritance tax: this is highly advantageous for
legacy planning.
10. The annual property-ownership costs (council
taxes, levies, rates etc.) are one of the cheapest in
Europe.
www.reimag.co.za

And if you want to secure an EU passport, Cyprus’
“Citizenship via investment” programme will get
the whole family – including dependent children up
to the age of 28 - passports within 3 months! This
is the quickest guaranteed way to get citizenship in
Europe.

The requirement are:

- the purchase of a single residential property for
min €2,5M OR a portfolio of properties for €3M:
- properties must be retained for min 3 years, then
can be sold;
- in both options a property of min €500k must be
retained after the 3 years.

Benefits on this progamme include:

- you CAN rent the property/ies out
- you have freedom to live, work and travel
anywhere in the EU (incl. the UK)
- Visa-free travel to more than 169 countries
- Never have to live in Cyprus!
- Citizenship is passed on by descent, offering a
legacy to future generations.

RESOURCES
Cypriot Realty
MARCH 2016 SA Real Estate Investor

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