Cyprus – New Proposed Residency Program for High-Income Earners

Cyprus is considering easing residency rules for high-income earners.

The new proposed bill foresees a minimum of EUR 250, 000 investment in residential property and EUR 40, 000 income from abroad (increased by EUR 10, 000 for each family member) to enable high-income earner third-country nationals to qualify for an immigration permit.

Cyprus already has a residency by investment scheme in which the minimum investment amount is EUR 300,000, and it is not clear whether this proposed bill will replace the existing bill, if not how it will differ.

There is no doubt that the new bill will gather attention and increase Cyprus’s popularity when it comes to European Residency.

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