Fast Track offers the opportunity to obtain permanent residency in Cyprus through investments in real estate or the country’s economy. Recently, the entry threshold for this type of investment was raised from 200,000 euros to 300,000 euros, excluding the 19% VAT on the transaction amount.

Additionally, the applicant must demonstrate an annual income of at least 50,000 euros, with an increase of 15,000 euros for a spouse and 10,000 euros for each dependent child. Income sources can include salary, pensions, dividends from stocks, interest from deposits, or rental income.

Among the advantages of the Fast Track program, it’s worth noting that there’s no requirement to stay in Cyprus every three months, as is the case with Pink Slip or work visas. It is sufficient to visit Cyprus no less than once within two years. Also, there’s no need to open a bank account to apply for Fast Track, which is particularly relevant these days; it’s enough to show your foreign income.

The processing time for this type of permanent residency is as short as two months, but in reality, it often takes 4-5 months. However, there have been cases where documents were issued after 10 months or even a year. To avoid such situations, reach out to us for a free consultation before submitting your documents. We will provide you with qualified support at every stage and help promptly address any issues that arise.