PKZ & Associates is a boutique consultancy based in Cyprus. We offer customised services for families and international companies including permanent residency by investment programmes, corporate relocation and advisory for cross border M&A.
EUROPEAN PERMANENT RESIDENCY PROGRAMMES
The Permanent Residency programmes (also known as 'Golden Visa' programmes) of the several European countries are highly valued by business executives and high net worth families because the benefits and peace of mind they offers.
We offer our clients three such programmes, Cyprus, Greece and Portugal because they offer non EU citizens the opportunity to invest modest amounts in properties or in investment funds and acquire the right to live in the European Union indefinitely. This status lifts travel restrictions and visa requirements and offers opportunities for business, work, education and other benefits.
CYPRUS PERMANENT RESIDENCY
✔ Covers the Whole Family.
The Permanent Residency covers the main applicant, spouse, parents and dependents up to the age of 24 and there are no annual renewal requirements.
✔ Easy Application Requirements.
Unlike other countries, there is no need for medical reports, language requirements or obligation to live long periods in the country before or after the issue of the permanent residency permit.
✔ Easy Travel and Residence in EU countries.
Easy access across the EU zone and easier access to the Schengen zone, USA and Canada.
✔ Easy and Fast Application Processing.
Final approvals are usually granted within 3 - 6 months from the date of filing. The application can be processed in the applicant's absence and filed on their behalf by our office.
✔ Possible Favourable Tax Status.
If the applicant resides in Cyprus for over 183 days during a year then he becomes a Cyprus tax resident which has attractive tax benefits.
✔ Possible Lower University Tuition Fees.
Some universities in the EU, offer free or lower tuition fees for permanent residents of EU counties.
✔ Possible Lower Medical Fees.
Some public hospitals in the EU, offer free or lower medical fees for permanent residents of EU countries (including Cyprus).
✔Eligible To Apply For Citizenship By Naturalization
After 7 years of legal permanent residency, if the applicant has resided for full 5 years (1825 days) in Cyprus, then he is eligible to apply for citizenship by naturalization subject to certain conditions.
Requirements for the Cyprus PR Programme
> The applicant must maintain a 3 year fixed deposit account with a Cyprus bank for a minimum amount of EUR30,000 and the funds must come from sources outside Cyprus.
> The applicant must provide evidence of annual income of at least EUR30,000 originating from abroad (plus EUR5,000 for each dependent and EUR8,000 for each parent or parent in law). The income should derive from sources as salary, rent, pension, interests, dividends, etc.
> The income should be derived from legally acceptable sources abroad. It should be secure and be able to provide long term support for the applicant and his family.
> The applicant must make a minimum property investment of EUR300,000 plus Vat, for a new 'first-time sale' residential property purchased directly from a developer.
> The applicant’s presence at the time of purchase is not mandatory and can be facilitated by our office. The property can be replaced in future with residential property valued at least EUR300,000 plus Vat.
> The EUR300,000 property investment can be one or two new properties from the same developer. One must be residential, while the second can be residential or commercial.
> The purchase can be in the name of a legal person legally established in the European Union in which the sole shareholder is the applicant or his/her spouse.
> There should be a receipt for payment of at least EUR200,000 excluding Vat and the balance of the amount should be available in a bank account in Cyprus.
> Applicants do not have right to work in Cyprus so they will be asked to sign an Affidavit that they are not going to engage in any professional activity in Cyprus. (Note that income from dividends in a Cyprus Company is not considered as a violation of this requirement).
> Clean police certificates from the country of birth and country of residence for the applicant and adult dependents.
> The applicant and all dependents must not be on EU, UN or other international sanctions or restrictions.
> The applicant must visit Cyprus within one year of the date of issuance of the permanent residency permit to provide biometrics, and subsequently once every two years thereafter.
> There are no medical tests, no language requirements and no requirement to live long periods in the country before or after the issue of the permanent residency certificate.
GREECE PERMANENT RESIDENCY
This programme offers two options for the potential investor:
(i) EUR250,000 purchase of real estate is any area of the country
(ii) EUR400,000 investment is an approved Alternative Investment Fund (AIF) which is obliged to invest in Greece.
The applicant's children (below 21 years old), parents and parents in law can be included in the application with the single investment.
Some key benefits of this programme are:
> Greece is full member of the Schengen zone
> the property can be rented to generate passive income
> investor is allowed to setup Greek company
> path to citizenship after 7 years
Contact us for private consultation about the very attractive Greek Golden Visa programme.
PORTUGAL PERMANENT RESIDENCY
This programme is the most flexible and offers five options for the potential investor:
(i) EUR500,000 purchase of real estate in high density areas, that is urban areas;
(ii) EUR400,000 purchase of real estate in low density areas, that is outside urban areas;
(iii) EUR350,000 purchase of real estate which needs major renovation in high density areas;
(iv) EUR280,000 purchase of real estate which needs major renovation and is in low density areas; and
(v) EUR350,000 investment in an approved Alternative Investment Fund (AIF) which is obliged to invest in Portugal.
The applicant's children (less than 18 years old), parents and parents in law can be included in the application with the single investment.
> Portugal is full member of the Schengen zone
> investor is allowed to work as employee in Portugal
> path to citizenship after 6 years
Contact us for private consultation about the very attractive Portuguese Golden Visa programme.
We work with a high level of integrity and ethics. From the start to finish, our team will strive to be efficient and effective. Our managing consultant has held C-level positions in trading and property companies, waste recycling and alternative investment funds. We have many years experience in the trading, M&A, real estate, and investment advisory.
We are co-founders and advisers for a mobile app called 'Learn2Invest' which is now in beta phase. The objective of the app is to teach in casual and non-jargon way about investing in stocks, commodities, forex, ETFs and mutual funds.