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More than 1 billion Euros from foreigners for permanent residency permits

The minister of interior, Mr Socrates Hasikos, stated that fresh money of more than 1 billion euros have been invested in Cyprus by third country nationals who have seeked a permanent residency VISA or passport in the Republic of Cyprus within the last 15 months.

The minister emphasized during the latest council of ministers that the construction industry is an important sector within the cyprus economy and despite the various problems of the sector we should keep this sector strong.

The application for fast truck permanent residency by third country nationals is filed immediately after the applicant proceeds with a purchase of a property of at least 300 000 euros plus vat. The license is now granted within 3 months.

 
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