Completed cases

Result: At the time of contacting us, the client already owned a registered and operating company in Cyprus that was generating profit and capable of distributing dividends. He was ready to invest the dividends in the purchase of real estate; however, he faced a legal nuance: under the Cypriot permanent residency program through property investment, the property must be paid for from an account held outside of Cyprus. This requirement excludes the possibility of direct payment from local corporate accounts. To comply with the immigration rules, we proposed a legal structure that allowed the client to legitimately use his earned funds. Following our recommendation, the client opened a personal account with a foreign bank (in this case, in the Kyrgyz Republic), to which part of the company’s profit was transferred as an official dividend payment. These funds were then used to pay for the property in Cyprus directly from abroad, ensuring full compliance with the requirements of immigration Category 6.2. After successful completion of the transaction and bank compliance, the application for permanent residency through real estate investment in Cyprus was prepared and submitted. The entire case took around two months, covering document preparation, legal support of the transactions, and coordination with banks in two jurisdictions. The PR application was submitted within the statutory timeframe, in full compliance with the legal requirements. Going forward, we continue to support the client by maintaining the validity of his immigration status and ensuring ongoing compliance with all residency regulations.

Result: Initially, the client purchased an apartment in Paphos at the off-plan stage with the intention of applying for permanent residency under Category 6.2. However, during the process, difficulties arose with bank compliance, which temporarily delayed the application. In parallel, the client acquired a second property in Limassol that met the technical requirements for residence and successfully submitted the documents for permanent residency under Category 6.2. The client also owned a third property — a residential house for personal use. Several months later, the client approached us again, this time with the intention of obtaining permanent residency for his father, without purchasing an additional property. Under the current legislation, it was not possible to use the previously acquired apartment in Paphos in its original form, since the funds for its purchase were provided not by the applicant himself, but by his son. This violated one of the key criteria of immigration Category 6.2: payment must be made directly by the person applying for permanent residency. We proposed an alternative solution — to restructure the previously concluded transaction. We initiated the cancellation of the original sale and purchase agreement and simultaneously prepared a new contract for the same property, but this time in the father’s name. All necessary compliance procedures with Cypriot banks were arranged, ensuring that the payment was legally processed on behalf of the father. The developer refunded the previously paid amount to the client’s bank account, which ensured transparency of the transactions on both sides. The new contract and the father’s payment then formed the basis for submitting the application for permanent residency in Cyprus. Thanks to this strategy, the client not only avoided purchasing additional property but also legally utilized an already acquired asset to obtain permanent residency in Cyprus for his parent. The entire process — from legal structuring of the transaction to the submission of the file to the migration authorities — took approximately four months.