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Is it possible to maintain Cyprus residency through a rental or other tourist accommodation?

I am wondering if to bypass the owning a house requirement for my citizenship-by-investment application, can I rent a place? Or a long-term hotel, or something of that nature?

  • Vasiliou Law
    July 07, 2019

    Residency and citizenship are entirely different under the current available programs in Cyprus. Regarding the Cyprus investment program, it is compulsory to have a property for life or as long as you want to have your passport. However, you are not obliged to live in that house/apartment.

  • A.A. Georghiou LLC
    July 02, 2019

    The answer is that you can obtain a temporary Cyprus residency only for one year (maybe two) renewable through a rental apartment (not hotel accommodation), provided that you prove that you have the funds to live in Cyprus from legal sources outside of Cyprus.

  • Aqualis Services Limited
    July 02, 2019

    I am afraid that no such options are being offered under the scheme.

  • AME Second Citizenship Ltd
    June 26, 2019

    There is no such option in the CBI program. In addition to the investment options, you have to purchase a residential property of a minimum 500,000, plus VAT, to satisfy the criteria of the program.

  • Christodoulos G. Vassiliades & Co. LLC
    June 24, 2019

    Further to your request, please be informed that it is a vital requirement to invest in a purchase of a residential property of at least 500,000 euros, plus VAT.

  • Kannava, Kitromilidou & Co LLC (KPK Legal)
    June 24, 2019

    No, this is not possible.

  • CA Advocates (Pourgoura & Aspri LLC)
    June 22, 2019

    Unfortunately, the investment categories do not provide for any rental option either for private residence or commercial facilities.