The property could be purchased in the name of the Company.
1. Company must be registered in Cyprus
2. Applicant or his spouse (or both) must be shareholders and his/their name/ names should appear in the certificate of the shareholders of the Company
3. They must be only shareholders of this Company
• Trust deed is not accepted
• If the shareholder of this Company is another Company, it should be proved that only shareholder of that Company is the applicant (his spouse or both)
B) BANK DEPOSIT:
It must be created a bank deposit of 30,000 Euro in a Cypriot Bank, blocked at least for 3 years. It must be proven that 30,000 Euro was transferred to Cyprus from abroad.
C) INCOME OF THE APPLICANT AND HIS SPOUSE:
1. Income must be created abroad, not in Cyprus
2. The applicant should prove at least 30,000 Euro of income for himself and plus 5,000 Euro for each dependent on him family member
3. It should derive from legal sources as salary, rent, pension, interests, dividends, etc.
D) OBLIGATION OF NOT ENGAGING IN ANY PROFESSIONAL ACTIVITIES IN CYPRUS:
The holders of the Permanent residence permit must not work in Cyprus. Therefore, they should make Affidavits that they are not going to engage in any professional activity in Cyprus. Income from dividends in a Cyprus Company of the applicants shall not be considered as a violation of the requirement of not engaging in any professional activity in Cyprus.
E) CLEAN CRIMINAL RECORD:
The applicant, his spouse and children from 16 years old should have and provide clean criminal records from the country of their origin. The period of validity of this document is three months.
F) LEGALIZATION AND TRANSLATION OF THE DOCUMENTS:
All documents must be translated into English or Greek language by certified translator. All official documents must be duly legalized by apostil. If the Country, which issued the official document is not a party on the Hague Convention of 5 October 1961, abolishing the requirement of legalisation for foreign public documents, then the document must be legalized by the Ministry of Foreigner Affairs and the Embassy of that Country in Cyprus.