[ Offshore Tax ] How do I get residency in Cyprus?

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To obtain a Permanent Residency Permit in Cyprus, one can either purchase a property in Cyprus (the fast-track option), or after legally residing in Cyprus for a continuous period of more than five years, an individual and his or her family members may apply for the permit.

TIMESTAMPS:
0:00 INTRO
0:18 Golden visa not offered anymore in Cyprus
1:00 How do I get residency in Cyprus?
2:00 Setting up a company in Cyprus
3:06 OUTRO

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DERREN JOSEPH:
The golden visa options are aside for the US. But I think when we were discussing this earlier, you said that it’s no longer available,

MARY TRIMITHIOTOU:
What I was saying is that the citizenship by the investment program we used to have, we don’t offer anymore since November, I think 20th. So we don’t offer something in the sense of visa, but what we offer for country national, we can offer, they can get the residents and work permit, there are various options. There is an immigration permit by investment, which is an investment requirement is around, is at least 300,000, which is not substantial and can and one can have a residential or commercial product or shares in a site with a physical presence on the site or he can even buy units investment fund. So this is an immigration permit by investment. Then we have another scheme in which one can get the permit, can get a resident permit if we can get employed at a foreign interest company. For interest, the company is a company, the majority of which is foreign, foreign foreigner, sorry. We also have a Thema visa, which is one for one year. Also granted Una you individuals who can work remotely for employers and then we have the standard immigration permits.

DERREN JOSEPH:
Okay, I understand. Yeah, so, so the investment option, sounds attractive and so if I’m an entrepreneur I can set up a company in Cyprus and that company can sponsor my work permit potentially.

MARY TRIMITHIOTOU:
Yeah, definitely, definitely You can set up a company as a for-interest company and also mention that under this scheme it’s for an interesting company that can employ up to a percent of the key personnel from new countries. So it’s a great advantage for a, for an interesting company is they want to employ key personnel from their countries as well.

DERREN JOSEPH:
That’s attractive

MARY TRIMITHIOTOU:
Is the benefits. And we see a lot of tech companies taking advantage of these disciples. We have seen a lot of tech companies relocating to Cyprus.

DERREN JOSEPH:
Right. And this probably pays well with the non-dom regime. So then your incoming from outside of Cyprus will be free of taxes in Cyprus and only what arises within.

MARY TRIMITHIOTOU:
Yeah, because you have dividends and income. Yes.

DEREN JOSEPH:
That’s great.

OUTRO:
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