Category F (s.4)
This Category of visa is addressed to individuals who are not going to be employed or work in The Republic of Cyprus but they wish to enjoy the status of permanent residents of Cyprus which allows them to enter the country freely and live here. These individuals should earn their income from abroad which should be enough to cover their accommodation costs in Cyprus, with the minimum being at least €9.658,17 per annum and should be in a position to prove their income and that it is received from abroad.
The Economic Substance (Companies and Limited Partnership) Act, 2018 ( “ESA Act”) was enacted in the British Virgin Islands (“BVI”) on December 28th, 2018 to come into force on January 1, 2019.
The Cyprus Council of Ministers of Cyprus within the implementation framework of its objectives, one of which is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus, proceed to a further review of the economic criteria and other terms and conditions of the Cyprus Investment Program (“CIP”) and has approved revisions on it in order to make to even “more targeted and trustworthy”.
